Karachi, December 6, 2023 – Pakistan has recorded significant surge in the country’s total debt, reaching Rs 62.48 trillion by the end of October 2023.
(more…)Author: Shahnawaz Akhter
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State Bank of Pakistan Launches Raast Person to Merchant Service to Boost Digital Payments
Karachi, December 5, 2023 –The State Bank of Pakistan (SBP) officially unveiled the Raast Person to Merchant (P2M) Service on Tuesday for advancing digital payment solutions in Pakistan.
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SBP Proposes Regulatory Sandbox to Propel Digital Financial Services Innovation
Karachi, December 5, 2023 – In a strategic move to foster innovation in the digital financial services (DFS) sector, the State Bank of Pakistan (SBP) unveiled a draft regulatory sandbox on Tuesday, encouraging stakeholders to provide feedback before the finalization of the regulatory and technical sandboxes.
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FBR Set to Implement Real-Time Access to Information and Databases
Karachi, December 5, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing its capabilities by finalizing plans to gain real-time access to information and databases of both public and private institutions.
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KATI Expresses Surprise Over Government’s Silence on Protests Against Gas Tariff Hike
Karachi, December 5, 2023 – The Karachi Association of Trade and Industry (KATI) raised eyebrows on Tuesday as it expressed astonishment over the government’s notable silence in the face of escalating protests against the recent gas tariff hike.
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FBR Introduces KIBOR-Linked Compensation for Delayed Sales Tax Refunds
Karachi, December 5, 2023 – The Federal Board of Revenue (FBR) has announced a significant policy shift regarding delayed sales tax refunds, introducing an additional compensation mechanism tied to the Karachi Interbank Offered Rate (KIBOR).
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Maintenance of Books of Accounts by Taxpayers in Pakistan During Tax Year 2024
Karachi, December 5, 2023 – The Federal Board of Revenue (FBR) in Pakistan has introduced crucial updates to the Income Tax Rules, 2002, stipulating mandatory maintenance of books of accounts, documents, and records for taxpayers during the tax year 2024.
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Advisory on Claiming Sales Tax Refunds under Updated Law for Tax Year 2024
Karachi, December 4, 2023 – The Federal Board of Revenue (FBR) has issued a crucial advisory to taxpayers in Pakistan, emphasizing the importance of timely claiming sales tax refunds under the updated tax law for the tax year 2024.
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FBR Sheds Light on Fee for Technical Services in Tax Year 2024
Karachi, December 4, 2023 – The Federal Board of Revenue (FBR) has shed light on the fee for technical services during the tax year 2024, updating the Income Tax Rules, 2002.
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FBR Unveils Tax Recovery Procedure for Companies in Liquidation During Tax Year 2024
Karachi, December 3, 2023 – In a move to address tax recovery challenges from companies undergoing liquidation, the Federal Board of Revenue (FBR) has issued a comprehensive procedure under the Sales Tax Act, 1990 for the tax year 2024.
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