Tobacco farmers in Pakistan are up in arms against what they perceive as the government’s unfair policies, as the recent increase in federal excise duty (FED) on cigarettes has pushed them into a deep crisis.
(more…)Author: Shahnawaz Akhter
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Karachi Tax Bar Association Proposes Sales Tax Relief for Non-Profit Organizations
The Karachi Tax Bar Association (KTBA) has presented a tax proposal aimed at providing relief to charitable and non-profit organizations engaged in charitable activities.
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KTBA Raises Concerns Over Undescribed Timelines under Sales Tax Law
The Karachi Tax Bar Association (KTBA) has recently highlighted the issue of undescribed timelines under the Sales Tax Law in Pakistan.
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FPCCI Proposes Dollar Amnesty Scheme to End Exchange Rate Volatility
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
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Petrol pumps may not accept cash for fuel purchase in Pakistan
Pakistan is contemplating a potential restriction on cash payments for fuel purchases at petrol pumps as part of an effort to promote digitalization and curb financial irregularities.
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Anticipated Tax Measures in the Federal Budget 2023-24
The upcoming federal budget for 2023-24 is expected to include a range of tax measures aimed at achieving a tax revenue target of Rs9-9.2 trillion.
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Pakistan Budget 2023-2024: Navigating Challenges and Striving for Economic Stability
The Pakistan Budget for the fiscal year 2023-2024 faces significant challenges due to stagflation, uncertainties surrounding the upcoming elections, and the country’s external account funding gap.
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ICAP Urges Tax Authorities to Revise Tax Rates and Regimes in Budget 2023-2024
Institute of Chartered Accountants of Pakistan (ICAP) has raised concerns over the current tax rates and tax regimes in the country, urging the tax authorities to revisit them in the upcoming budget for the fiscal year 2023-2024.
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KTBA President highlights key tax proposals for budget 2023-2024
Syed Zafar Ahmed, President of the Karachi Tax Bar Association (KTBA), has recently submitted a series of important tax proposals for inclusion in the upcoming Finance Bill 2023.
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Pakistan’s Import Bill Surges by 43% in May 2023, Trade Deficit Widens
Karachi, June 2, 2023 – Pakistan’s import bill experienced a substantial increase of 43% in May 2023, reaching $4.28 billion compared to $2.99 billion in the previous month, according to official statistics released on Friday. In contrast, exports recorded a nominal increase, reaching $2.19 billion in May 2023 compared to $2.14 billion in April 2023.
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