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.
(more…)Author: Shahnawaz Akhter
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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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FBR Directs 52 IRS Officers to Submit Asset Declaration and Performance Reports
Islamabad, November 7, 2023 – The Federal Board of Revenue (FBR) has taken a significant step to ensure transparency and compliance within its ranks. In an official communication issued today, the FBR directed 52 officers from the Inland Revenue Service (IRS) to promptly submit their asset declaration and performance reports.
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UBL Continues Legal Battle Against SBP’s Rs 4.09 Billion Penalty Since 2016
Karachi, November 7, 2023 – United Bank Limited (UBL) has been embroiled in a legal dispute with the State Bank of Pakistan (SBP) since 2016 over a penalty totaling Rs 4.09 billion.
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Pakistan Customs to Sell Confiscated Goods at 50% Discount to Utility Stores
Karachi, November 6, 2023 – Pakistan Customs has received authorization to offer confiscated and seized goods at a substantial 50 percent discount to the Utility Stores Corporation (USC).
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Number of Active Taxpayers in Pakistan Crosses First-Time 5-Million Mark
Karachi, November 6, 2023 – Pakistan has achieved a historic milestone as the number of active taxpayers in the country surpassed the 5-million mark for the first time.
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Anwar Kashif Mumtaz Elected President of PTBA for 2023-2025 Term
Pakistan Tax Bar Association (PTBA) has elected Anwar Kashif Mumtaz as its new President for the term 2023-2025, marking a significant development in the realm of taxation in Pakistan.
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Pakistani Rupee Faces Further Decline Against Dollar Amidst IMF Talks and Import Challenges
The Pakistani Rupee (PKR) is expected to face further decline against the US dollar in the upcoming week, commencing on November 6, 2023.
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Pakistan Collects Rs 8.98 Billion in Motor Vehicle Tax in 1QFY24
Karachi, November 4, 2023 – Pakistan has successfully collected a substantial amount of Rs 8.98 billion in motor vehicle tax during the first quarter of the fiscal year 2023-24 (July to September).
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Commissioner Inland Revenue Granted Powers Equivalent to Civil Court for Tax Recovery
Karachi, November 4, 2023 – The Commissioner of Inland Revenue has been granted powers equivalent to a civil court to facilitate the recovery of taxes, including the seizure of properties and, when necessary, the arrest of taxpayers.
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