Karachi, October 2, 2023 – The Federal Board of Revenue (FBR) has taken decisive action against property builders and developers who failed to meet project completion deadlines set under the amnesty scheme.
(more…)Author: Shahnawaz Akhter
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Pakistan Business Council Suggests Measures to Reduce Electricity Costs and Boost Forex Savings
Karachi, October 2, 2023 – Pakistan Business Council (PBC) has put forth a comprehensive set of recommendations to the government to alleviate country’s soaring electricity costs and enhance foreign exchange savings.
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Pakistani Rupee Maintains Strong Streak Against Dollar, Closes at PKR 286.76
Karachi, October 2, 2023 – The Pakistani Rupee (PKR) continued its impressive performance against the US dollar, extending its unbeaten streak for the 18th consecutive session.
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FBR Allows Taxpayers to Set Off Losses Against Capital Gains
Karachi, October 2, 2023 – The Federal Board of Revenue (FBR) has granted taxpayers the ability to offset losses against capital gains, providing relief and flexibility in income tax matters. Official sources confirmed this change on Monday, shedding light on the new provisions.
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Inflation in Pakistan Surges to 31.4% in September 2023
Karachi, October 2, 2023 – Official data released on Monday by the Pakistan Bureau of Statistics (PBS) reveals a sharp increase in headline inflation, which soared to 31.4 percent on a year-on-year basis in September 2023.
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FBR Updates Income Tax Rates on Brokerage and Commission for FY24
Karachi, October 1, 2023 – The Federal Board of Revenue (FBR) has released updated income tax rates for brokerage and commission, which will be applicable for the tax year 2024. These revised rates, effective from July 1, 2023, have been introduced through amendments to the Income Tax Ordinance, 2001.
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PKR Emerges as September Top Performer in Currency World
KARACHI: The Pakistan Rupee (PKR) has stunned global financial markets with an astonishing recovery, solidifying its position as the best-performing currency in the world for the month of September, according to market analysts.
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Asif Sumsum Elected Chairman of ABAD for 2023-2024 Term
Karachi, September 30, 2023 – The Association of Builders and Developers (ABAD) has elected Asif Sumsum, a prominent builder and developer, as its chairman for the term 2023-2024.
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New Managing Committee Takes Charge at KCAA
Karachi, September 30, 2023 – The newly elected members of the managing committee of the Karachi Customs Agents Association (KCAA) have officially assumed their roles for the term 2023-24.
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SRB Registers Unprecedented 44% Revenue Collection Growth in First Quarter of FY24
Karachi, September 30, 2023 – The Sindh Revenue Board (SRB) has reported an extraordinary 44 percent surge in the collection of sales tax on services during the first quarter of fiscal year 2023-24.
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