Karachi, October 4, 2023 – The State Bank of Pakistan (SBP) successfully conducted an auction of Market Treasury Bills (MTBs), selling T-bills worth Rs 557 billion.
(more…)Author: Shahnawaz Akhter
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Pakistan Expands Negative List for Afghan Transit Trade to Curb Smuggling and Misuse
Karachi, October 4, 2023 – Pakistan has expanded its negative list to prohibit certain goods imported by Afghanistan under transit arrangements, in a move aimed at curbing smuggling and preventing the misuse of transit facilities,
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Pakistan Starts Physical Examination of Afghan Transit Goods
Karachi, October 4, 2023 – The Pakistan Customs authorities have announced the commencement of physical inspections of Afghan transit goods as they pass through the country’s major trade routes.
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Pakistan Imposes Up to 20% Advance Tax on Marriage Functions; Varies for Taxpayers
Karachi, October 4, 2023 –Pakistan has instituted a 20 percent advance tax on individuals organizing marriage functions. However, this rate is not uniform, as those listed in the Active Taxpayers List (ATL) by the Federal Board of Revenue (FBR) will be subjected to a comparatively lower rate of 10 percent.
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Sindh Announces Tax Rates for Foreign Payments via Banking Channels
Karachi, October 3, 2023 – Sindh has unveiled its sales tax rates applicable to foreign payments processed by various service providers through banking channels.
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Pakistan Implements Bank Guarantees to Secure Duty and Taxes on Afghan Transit Goods
Karachi, October 3, 2023 – In a bid to bolster customs security and ensure compliance with customs procedures, Pakistan has introduced a new system of bank guarantees for Afghan transit trade goods.
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Pakistan Slaps 10% Processing Fee on Afghan Transit Goods to Curb Smuggling
Karachi, October 3, 2023 – In a bid to curb the rampant smuggling of goods, Pakistan has introduced a 10 percent processing fee for the clearance of Afghan transit trade goods passing through its territory.
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FBR Gains Access to Property Buyer Data to Combat Tax Evasion
Karachi, October 3, 2023 – The Federal Board of Revenue (FBR) in Pakistan has taken a significant step in its ongoing efforts to combat tax evasion by obtaining comprehensive data of property buyers from relevant authorities.
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Pakistan’s Petroleum Sales Plunge by 34% YoY in September 2023
Karachi, October 2, 2023 – Pakistan’s domestic sales of petroleum products experienced a significant decline, plummeting by 34 percent year on year (YoY) in September 2023, according to a report by the research team at Arif Habib Limited.
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Active Taxpayers List Expands to New Record High at 4.78 Million
Islamabad, October 2, 2023 – Pakistan’s Active Taxpayers List (ATL) has reached a historic milestone, with a record high of 4.78 million taxpayers for the tax year 2022.
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