Karachi, October 9, 2023 – The Association of Builders and Developers (ABAD) of Pakistan has called upon the government to abolish Section 7E from the statute.
(more…)Author: Shahnawaz Akhter
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Pakistani Rupee Reaches Record 23rd Straight Gain Against Dollar, Closes at PKR 281.65
Karachi, October 9, 2023 – The Pakistani Rupee (PKR) extended its remarkable winning streak for the 23rd consecutive session against the US dollar, ending at PKR 281.65 in the interbank foreign exchange market.
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Pakistan’s Active Taxpayers List Reaches New Record of 4.83 Million Return Filers
Islamabad, October 9, 2023: The Federal Board of Revenue (FBR) on Monday announced that Pakistan’s Active Taxpayers List (ATL) has reached a new historic high of 4.83 million return filers for tax year 2022.
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FBR Updates Super Tax Rates for High-Earning Individuals
Karachi, October 9, 2023 – The Federal Board of Revenue (FBR) has introduced updated super tax rates for high-earning individuals for the tax year 2024.
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Pakistan Introduces Minimum Tax for Companies Declaring Losses in Tax Year 2024
Karachi, October 8, 2023 – Pakistan has implemented a minimum tax requirement for companies that frequently declare losses in their financial statements, effective for Tax Year 2024.
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PKR Expected to Maintain its Winning Streak Amid Afghan Transit Restrictions
Karachi, October 8, 2023 – The Pakistani rupee (PKR) is poised to continue its ascent against the US dollar in the coming week as Pakistan implements various restrictions on Afghan transit trade.
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Pakistan Begins Collecting Bank Guarantee for Afghan Transit Goods to Curb Pilferage
Karachi, October 7, 2023 – In a bid to enhance security measures and curb pilferage of Afghan transit goods on Pakistani soil, Pakistan has initiated the process of collecting bank guarantees for goods intended for Afghan transit trade.
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PPL Discloses Successful Outcome of Rigless Production Enhancement Campaign
Karachi, October 6, 2023 – Pakistan Petroleum Limited (PPL), a major player in Pakistan’s energy sector, has unveiled the results of its rigless production enhancement campaign, reaffirming its commitment to bolster the country’s energy security by optimizing domestic hydrocarbon production.
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Pakistan Allows No Tax Deduction for Citizens Exempted from Return Filing
Karachi, October 6, 2023 – Pakistan has implemented a policy allowing for no deduction of withholding tax for citizens who are exempted from filing tax returns.
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Pakistan May Reduce Petroleum Prices Sharply for Second Half of October 2023
Karachi, October 6, 2023 – Pakistan may announce a significant reduction in petroleum product prices for the second half of October 2023 following a substantial drop in international oil prices.
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