Author: Shahnawaz Akhter
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HBL Anticipates Policy Rate Cut to 17% by Year-End
Karachi, Pakistan – March 6, 2024 – Habib Bank Limited (HBL) expects the benchmark interest rate in Pakistan to be reduced to 17% by the end of 2024.
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Standard Chartered Bank Pays Rs 143 Million Penalty to SBP
Karachi, March 6, 2024 – Standard Chartered Bank Pakistan Limited has recently disclosed that it paid a substantial penalty of Rs 143 million due to regulatory violations, as per a report released by the financial institution.
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Ministry Gathers Details on Pending Textile Tax Refunds
Karachi, March 5, 2024 – The Ministry of Commerce in Pakistan has intensified efforts to address the liquidity challenges faced by the textile industry, a key sector in the country, by gathering details of outstanding tax refunds and drawbacks.
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Unilever Pakistan Reports Record Profit of Rs 9.74 Billion for CY23
Karachi, March 5, 2024 – Unilever Pakistan Foods Limited has announced a significant surge in its profit after tax (PAT), reaching an impressive Rs 9.74 billion for the calendar year ending December 31, 2023.
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FBR Receives 60,000 New Active Taxpayers in Just Three Days
Karachi, March 4, 2024 – The Federal Board of Revenue (FBR) has experienced a significant boost, registering approximately 60,000 new active taxpayers in just three days since the launch of the latest Active Taxpayers List (ATL).
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FBR Introduces New SOP for Time Extension under Sales Tax Law
Islamabad, March 4, 2024 – The Federal Board of Revenue (FBR) took a significant step on Monday by officially notifying a new Standard Operating Procedure (SOP) for granting time extensions under the sales tax law.
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FBR Clears Rs 65 Billion in Tax Refunds for Exporters
Islamabad, March 4, 2024 – The Federal Board of Revenue (FBR) has achieved a significant milestone by promptly disbursing all outstanding tax refunds to exporters, amounting to a staggering Rs 65 billion.
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Pakistan’s Petroleum Sales Plummet by 13% in 8MFY24
Karachi, March 2, 2024 – Pakistan’s petroleum industry has witnessed a substantial 13% decline in sales during the first eight months (July – February) of fiscal year 2023-24, compared to the same period in the previous fiscal year.
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Taxpayers Eager to Secure ATL Status to Avoid FBR Action
In Pakistan, taxpayers are currently fervently seeking inclusion in the recently unveiled Active Taxpayers List (ATL) to shield themselves from the stringent measures enforced by the Federal Board of Revenue (FBR).
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FBR Officer Dismissed from Service for Embezzlement Charges
Karachi, March 1, 2024 – In a significant development, a Federal Board of Revenue (FBR) officer, Wazir Hussain Lashari, has been handed the major penalty of dismissal from service following charges of embezzlement.
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