Karachi, September 28, 2023 – The Pakistani Rupee (PKR) concluded the month of September with a triumphant performance, closing at PKR 287.74 against the US dollar on Thursday, marking a significant recovery from its all-time low of PKR 307.10 to the dollar on September 5, 2023.
(more…)Author: Shahnawaz Akhter
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Pakistan Directs Citizens to Declare Foreign Income and Assets for Tax Year 2023
Karachi, September 28, 2023 – In a move aimed at enhancing transparency and compliance with tax regulations, Pakistan has issued a directive requiring its citizens to declare foreign income and assets as part of their annual tax return for the year 2023.
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OGDCL Announces Remarkable 68% Surge in Profits for FY23
Karachi, September 28, 2023 – In a remarkable financial performance, the Oil and Gas Development Company Limited (OGDCL) has announced a staggering 68 percent growth in net profit for the fiscal year ending June 30, 2023.
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PPL Explores Engagement with Sovereign Foreign Investors in Reko Diq Project
In a strategic move to enhance the development prospects of the Reko Diq Project, Pakistan Petroleum Limited (PPL) announced its intention to explore potential engagement with sovereign foreign investors.
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PTBA Demands 90-Day Filing Period After Portal Error Removal
Karachi, September 27, 2023 – The Pakistan Tax Bar Association (PTBA) has called upon tax authorities to provide taxpayers with a clear 90-day window, as mandated by statute, following the removal of all glitches from the online portal.
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Return Filing Glitches Annoy Non-Resident Pakistanis
Karachi, September 27, 2023 – Non-resident Pakistanis are encountering significant challenges as they attempt to file their income tax returns for the tax year 2023, primarily due to persistent glitches in the Federal Board of Revenue’s (FBR) online portal.
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FBR Issues Procedure for Income Tax Return Filing Date Extension
Karachi, September 27, 2023 – The Federal Board of Revenue (FBR) has released a detailed procedure for individuals and entities seeking an extension in the filing of income tax returns.
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Banks to Extend Saturday Hours for Duty Drawback Claims
Karachi, September 27, 2023 – In a move to facilitate the resubmission of claims under duty drawback schemes, the State Bank of Pakistan (SBP) has directed commercial banks to keep their branches open on Saturday, September 30, 2023.
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FBR May Extend Return Filing Date for Tax Year 2023 Amidst Technical Challenges
Karachi, September 27, 2023 – The Federal Board of Revenue (FBR) is contemplating an extension of the deadline for filing income tax returns for the tax year 2023, following a surge in complaints from taxpayers grappling with technical difficulties in the online filing process.
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FBR Exempts Categories of Taxpayers from Tax Return Filing
Karachi, September 26, 2023 – The Federal Board of Revenue (FBR) has announced that certain categories of taxpayers are exempt from filing annual income tax returns for the tax year 2023.
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