Karachi, September 30, 2023 – The newly elected members of the managing committee of the Karachi Customs Agents Association (KCAA) have officially assumed their roles for the term 2023-24.
(more…)Author: Shahnawaz Akhter
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SRB Registers Unprecedented 44% Revenue Collection Growth in First Quarter of FY24
Karachi, September 30, 2023 – The Sindh Revenue Board (SRB) has reported an extraordinary 44 percent surge in the collection of sales tax on services during the first quarter of fiscal year 2023-24.
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FBR Addresses Concerns on IRIS 2.0 Functionality, Responds to KTBA
Islamabad, September 30, 2023 – The Federal Board of Revenue (FBR) responded on Saturday to objections raised concerning the performance of the online return filing portal, IRIS 2.0, effectively dispelling doubts raised by the Karachi Tax Bar Association (KTBA).
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KTBA Sheds Light on Tax Return Challenges Amid Online Portal Woes
Karachi, September 30, 2023 – The Karachi Tax Bar Association (KTBA) has issued a formal statement addressing the significant challenges faced by taxpayers attempting to file their annual income tax returns due to multiple issues within the Federal Board of Revenue’s (FBR) online portal.
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FBR Makes Submission of Wealth Statement Mandatory for All Return Filers
Karachi, September 29, 2023 – The Federal Board of Revenue (FBR) has taken a significant step in enhancing tax compliance by making the submission of a wealth statement mandatory for all income tax return filers.
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Pakistan’s Foreign Exchange Reserves Decline to $13.162 Billion
Pakistan’s foreign exchange reserves have dwindled to $13.162 billion as of the week ending September 22, 2023, marking a $24 million drop compared to the previous week’s level of $13.186 billion, according to the State Bank of Pakistan (SBP).
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FBR Recovers Rs 3 Billion from State Life Insurance by Attaching Bank Accounts
Karachi, September 28, 2023 – In a significant development, the Federal Board of Revenue (FBR) successfully recovered a substantial amount of Rs 3 billion from the State Life Insurance Corporation of Pakistan by attaching its bank accounts.
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Pakistani Rupee Ends September on Winning Streak, Closes at PKR 287.74 Against Dollar
Karachi, September 28, 2023 – The Pakistani Rupee (PKR) concluded the month of September with a triumphant performance, closing at PKR 287.74 against the US dollar on Thursday, marking a significant recovery from its all-time low of PKR 307.10 to the dollar on September 5, 2023.
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Pakistan Directs Citizens to Declare Foreign Income and Assets for Tax Year 2023
Karachi, September 28, 2023 – In a move aimed at enhancing transparency and compliance with tax regulations, Pakistan has issued a directive requiring its citizens to declare foreign income and assets as part of their annual tax return for the year 2023.
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OGDCL Announces Remarkable 68% Surge in Profits for FY23
Karachi, September 28, 2023 – In a remarkable financial performance, the Oil and Gas Development Company Limited (OGDCL) has announced a staggering 68 percent growth in net profit for the fiscal year ending June 30, 2023.
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