Karachi, January 23, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has issued a significant announcement regarding the collection of Capital Gain Tax (CGT) for the month of December 2023.
(more…)Author: Shahnawaz Akhter
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Powers of Pakistan Customs Officials to Search Persons
Karachi, January 23, 2024 – In a significant development, the Customs Act of 1969 in Pakistan has undergone revisions granting expanded powers to Pakistan Customs officials for the purpose of searching individuals and goods suspected to be carrying prohibited items.
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Find Out Tax Rates for Marriage Gatherings in Pakistan for 2024
Karachi, January 23, 2024 – As the tax year 2024 kicks off, the Federal Board of Revenue (FBR) in Pakistan has unveiled the updated income tax rates applicable to functions and gatherings, specifically those organized in the context of marriage ceremonies.
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Pakistan Set to Launch Online FX Trading Platform by Month-End
Karachi, January 22, 2024 – In a strategic move, Pakistan has announced its plans to introduce an online trading platform for foreign exchange by the end of January 2024, marking a significant step toward enhancing transparency and efficiency in the country’s FX market.
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Three-Year Jail Term Specified for Falsifying Declaration
Karachi, January 22, 2024 – In a significant development, Customs Laws in Pakistan have explicitly outlined a three-year jail term for those found guilty of falsifying declarations.
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Tax Rates on Telephone and Internet Usage Notified for 2024
Karachi, January 22, 2024 – The tax rates for telephone and internet usage in Pakistan for the tax year 2024 have been officially notified through amendments to the Income Tax Ordinance, 2001.
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IMF Urges Pakistan to Avoid Forex Restrictions for Stability
Karachi, January 21, 2024 – The International Monetary Fund (IMF) has advised Pakistan to exercise caution and avoid imposing restrictions on foreign exchange, emphasizing the importance of supporting a return to a market-determined exchange rate.
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FBR Discovers Non-Filer Retailers in Door-to-Door Campaign
Karachi, January 20, 2024 – The Federal Board of Revenue (FBR) has unveiled plans to launch a door-to-door campaign targeting non-filer retailers.
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Pakistan Set to Enhance Tax Rates for Additional Revenue
Karachi, January 20, 2024 – In a bid to generate additional tax revenue, Pakistan is gearing up to implement increased tax rates, as outlined in the country report on Pakistan issued by the International Monetary Fund (IMF) on Friday.
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Inflation of Essential Prices in Pakistan Nears 45%
Islamabad, January 19, 2024 – Alarming data released by the Pakistan Bureau of Statistics (PBS) on Friday reveals that the inflation of essential prices in Pakistan has surged, nearing a staggering 45 percent.
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