In a recent revelation by Pakistan’s Ministry of Finance, the previous government, led by the Pakistan Democratic Movement (PDM), which comprised several prominent political parties, has left the nation grappling with a staggering burden of Rs 452 billion due to the imposition of a petroleum levy during the fiscal year 2022-23. This unprecedented financial load has raised concerns among citizens and policymakers alike.
(more…)Author: Shahnawaz Akhter
-
FBR Announces Income Tax Payment By Retailers Through Electricity Bills
Karachi, August 30, 2023 – The Federal Board of Revenue (FBR) has announced a new method for retailers to pay their income tax through their monthly electricity bills.
(more…) -
FPCCI Demands Tax Exemption on Electricity Bills to Relieve Masses
Karachi, August 29, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for immediate sales tax exemptions on electricity bills to alleviate the financial burden on the public.
(more…) -
FBR Notifies Organization of Customs Risk Management Directorate
Karachi, August 29, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing customs risk management by notifying the organization of the Directorate General of Customs Risk Management (DGCRM).
(more…) -
National Bank of Pakistan Records Remarkable 122% After-Tax Profit Growth for 1HCY23
Karachi, August 29, 2023 – The National Bank of Pakistan (NBP) has reported an astounding 122 percent increase in after-tax profit for the first half of the calendar year 2023.
(more…) -
Foreign Investors Repatriate Only $2.1 Million in July 2023; Plunge by 87%
Karachi, August 28, 2023 – Foreign investors operating in Pakistan have repatriated a meager $2.1 million in July 2023, marking a staggering 87 percent plunge compared to the same month in the previous year.
(more…) -
FBR Identifies Eligible Taxpayers for Initial Allowance
Karachi, August 29, 2023 – The Federal Board of Revenue (FBR) has taken a significant step toward providing tax relief to eligible taxpayers by identifying those qualified for the grant of an initial allowance.
(more…) -
FBR Issues Mandatory Rules for Declaration of Beneficial Owners by Corporate Entities
Karachi, August 28, 2023 – The Federal Board of Revenue (FBR) took a significant step on Monday by issuing new rules that make it mandatory for corporate entities to declare their beneficial owners.
(more…) -
Karachi Chamber Urgently Calls for Relief in Electricity Bills, Seeks Immediate Action by Tomorrow
Karachi, August 28, 2023 – The Karachi Chamber of Commerce and Industry (KCCI) has made an urgent appeal for immediate relief in electricity bills for businesses and the general public.
(more…) -
Citizens Rush to Attain Active Taxpayer Status to Avoid Soaring Electricity Bills
Karachi, August 28, 2023 – In a remarkable development, a significant surge has been observed in Pakistan’s Active Taxpayers List (ATL), driven by citizens seeking this status to circumvent skyrocketing electricity bills.
(more…)