Author: Shahnawaz Akhter
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Government Bank Borrowing Hits Rs 4.28 Trillion in 1HFY24
Karachi, January 11, 2024 – The federal government has borrowed an unprecedented Rs 4.28 trillion during the first half (July – December) of the current fiscal year 2023-24, marking a substantial surge compared to the corresponding period last year.
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FBR May Cancel Customs Registration for Non-Compliance
Karachi, January 10, 2024 – The Federal Board of Revenue (FBR) in Pakistan has powers to cancel customs registration for non-compliance to ensure compliance with prevailing laws in the tax year 2024.
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Pakistan Grants Tax Exemption to Judges of Higher Courts
Karachi, January 10, 2024 – Pakistan has introduced income tax exemptions on various allowances granted to judges of higher courts during the tax year 2024.
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Pakistan’s Saving Schemes Observe 8.37% Investment Decline
Karachi, January 9, 2024 – Pakistan is grappling with a substantial decline in investment in saving schemes, as official data released on Tuesday by the State Bank of Pakistan (SBP) indicates a notable downturn for the period ending November 2023.
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Pakistan Customs Updates Baggage Declaration Rules for 2024
Karachi, January 9, 2024 – In a bid to enhance customs procedures and curb illicit activities, Pakistan Customs has recently updated the rules governing baggage declaration for the tax year 2024.
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FBR Grants Tax Exemption to Employee Perquisites in 2024
Karachi, January 9, 2024 – The Federal Board of Revenue (FBR) has recently announced a tax exemption on various perquisites granted to employees by virtue of their employment.
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Pakistan Customs Enables Duty-Free Transshipment in 2024
Karachi, January 8, 2024 – In a bid to streamline trade processes and promote efficient logistics, Pakistan Customs has authorized transshipment without duty payment during the tax year 2024.
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FBR Grants Tax Exemption to Gratuity Payments in 2024
Karachi, January 8, 2024 – The Federal Board of Revenue (FBR) has announced a tax exemption for gratuity payments during the tax year 2024.
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Customs Clearance Procedure for Home Consumption
Karachi, January 7, 2024 – The Federal Board of Revenue (FBR) in Pakistan has recently released the updated Customs Act, 1969, outlining the procedural framework for customs clearance for home consumption during the tax year 2024.
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Pakistan Unveils Cash Withdrawal Tax Rates for 2024
Karachi, January 7, 2024 – Pakistan has revealed the tax rates on cash withdrawals for tax year 2024. The move aims to boost revenue collection and promote financial transparency by encouraging participation in the tax system.
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