Green industry in Pakistan has been defined for Tax Year 2024 under updated Sales Tax Act, 1990 released by Federal Board of Revenue (FBR).
(more…)Author: Shahnawaz Akhter
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Tax Collection from Profit on Debt Surges by 103% Amid Soaring Interest Rates
Karachi, November 11, 2023 – The fiscal landscape of Pakistan has witnessed a remarkable surge, with tax collection from profit on debt skyrocketing by an impressive 103 percent, propelled by the prevailing high-interest rates, according to an official report.
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State Bank of Pakistan Sheds Light on Key Tax Measures Introduced in FY23
Karachi, November 11, 2023 – The State Bank of Pakistan (SBP) has shed light on pivotal tax measures unveiled in the fiscal year 2022-23, emphasizing the transformative impact of these initiatives on the economic landscape.
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UAE Real Estate Conglomerate Announces $25 Billion Investment in Pakistan
Karachi, November 10, 2023 – A consortium of real estate companies from the United Arab Emirates (UAE) has expressed its intent to invest a staggering $25 billion in Pakistan’s construction industry.
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Pakistan Records 26% YoY Growth in Total Debt in 1QFY24
Karachi, November 10, 2023 – Pakistan has experienced a significant uptick of 26 percent in its total debt during the first quarter (July – September) of the current fiscal year 2023-24, as revealed by official data released on Friday.
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Bank Deposits in Pakistan Hit New Peak at Rs 26.40 Trillion
Karachi, November 10, 2023 – Bank deposits in Pakistan have hit new peak at Rs 26.40 trillion by the end of October 2023, according to official data released on Friday by the State Bank of Pakistan (SBP).
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Pakistan Experiences 11.54% Surge in Foreign Remittances Amidst Crackdown on Smuggling
Karachi, November 10, 2023 –Pakistan has recorded a substantial 11.54% increase in foreign remittances, reaching $2.46 billion in October 2023. This surge, as reported by the State Bank of Pakistan (SBP) on Friday, is attributed to the government’s robust crackdown against currency smuggling and hoarding.
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Tax Rates on Foreign Transactions via Credit or Debit Cards Unveiled for Tax Year 2024
Tax rates on foreign transactions through credit or debit cards have been unveiled for tax year 2024 by the Federal Board of Revenue (FBR).
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Pakistan Stock Market Achieves New All-Time High at 54,261 Points
Karachi, November 8, 2023 – In a remarkable display of resilience and growth, the Pakistan stock market has soared to an unprecedented level, reaching a new all-time high of 54,261 points on Wednesday.
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Unclaimed Prize Bonds Worth Rs 5 Billion Linger Despite Deadline Extension
Karachi, November 8, 2023 – In a startling revelation, official data from the State Bank of Pakistan (SBP) has shown that discontinued bearer prize bonds worth a staggering Rs 5 billion remain unclaimed as of September 30, 2023.
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