Karachi, November 6, 2023 – Pakistan Customs has received authorization to offer confiscated and seized goods at a substantial 50 percent discount to the Utility Stores Corporation (USC).
(more…)Author: Shahnawaz Akhter
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Number of Active Taxpayers in Pakistan Crosses First-Time 5-Million Mark
Karachi, November 6, 2023 – Pakistan has achieved a historic milestone as the number of active taxpayers in the country surpassed the 5-million mark for the first time.
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Anwar Kashif Mumtaz Elected President of PTBA for 2023-2025 Term
Pakistan Tax Bar Association (PTBA) has elected Anwar Kashif Mumtaz as its new President for the term 2023-2025, marking a significant development in the realm of taxation in Pakistan.
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Pakistani Rupee Faces Further Decline Against Dollar Amidst IMF Talks and Import Challenges
The Pakistani Rupee (PKR) is expected to face further decline against the US dollar in the upcoming week, commencing on November 6, 2023.
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Pakistan Collects Rs 8.98 Billion in Motor Vehicle Tax in 1QFY24
Karachi, November 4, 2023 – Pakistan has successfully collected a substantial amount of Rs 8.98 billion in motor vehicle tax during the first quarter of the fiscal year 2023-24 (July to September).
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Commissioner Inland Revenue Granted Powers Equivalent to Civil Court for Tax Recovery
Karachi, November 4, 2023 – The Commissioner of Inland Revenue has been granted powers equivalent to a civil court to facilitate the recovery of taxes, including the seizure of properties and, when necessary, the arrest of taxpayers.
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Salt Manufacturers Seek Equal Access to FASTER for Refund Claims
Karachi, November 3, 2023 – The Salt Manufacturers Association of Pakistan (SMAP) has made a compelling appeal to the Federal Board of Revenue (FBR), urging the processing of refund claims through the FASTER (Fully Automated Sales Tax E-Refund) system for all exporters, highlighting a pressing issue that affects numerous members within the industry.
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Middle Income Groups in Pakistan Hit Hardest by Soaring Inflation
Islamabad, November 3, 2023 – Official data released on Friday has revealed that the citizens of Pakistan falling within the middle income group are bearing the brunt of the country’s rising inflation.
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Pakistan’s Weekly Foreign Exchange Reserves Decrease by $78 Million
Karachi, November 2, 2023 – Pakistan’s foreign exchange reserves have witnessed a significant decline of $78 million in just one week, according to a report released by the State Bank of Pakistan (SBP) on Thursday.
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Pakistan Requires $340 Billion to Tackle Climate Challenges, Says Finance Minister
Karachi, November 1, 2022 – Pakistan Finance Minister, Dr. Shamshad Akhtar, has emphasized the need for a substantial investment of approximately $340 billion to address the country’s climate challenges.
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