Karachi, October 11, 2023 – The Karachi Tax Bar Association (KTBA) has raised concerns over the recent changes to the conditions for raising credit notes for sales tax returns, labeling them as impractical due to various legal loopholes.
(more…)Author: Shahnawaz Akhter
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Pakistan to Sell Treasury Bills Amounting Rs 7.90 Trillion for Repayment of Domestic Debt
Karachi, October 10, 2023 – Pakistan has unveiled plans to raise a substantial amount of Rs 7.90 trillion through the sale of Market Treasury Bills (MTBs) over the next three months, according to an announcement made on Tuesday.
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FBR Notifies Transfers and Postings of 33 Senior IRS Officers in Major Administrative Overhaul
The Federal Board of Revenue (FBR) has announced a substantial administrative overhaul involving the transfers and postings of 33 senior officers from the Inland Revenue Service (IRS) in grades BS-19 to BS-21.
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FPCCI Expresses Concerns Over Reports of New Wealth Tax
Karachi, October 10, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced deep concerns regarding reports of a potential new wealth tax being considered in the country.
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Pakistan Reports 20% Decline in Foreign Remittances During First Quarter of FY24
Karachi, October 10, 2023 – Pakistan has experienced a significant 20 percent decline in foreign remittances during the first quarter (July – September) of fiscal year 2023-24.
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Rupee Bulldozes Dollar by 8.66% Since Falling to Historic Low
Karachi, October 10, 2023 – The Pakistani Rupee (PKR) has demonstrated remarkable strength by appreciating by 8.66 percent against the US dollar since hitting a historic low of PKR 307.10.
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PBC Discovers Massive Underreporting of Pakistan Exports to China
Karachi, October 10, 2023 – The Pakistan Business Council (PBC) has revealed a significant issue of underreporting in Pakistan’s exports to China, raising concerns about foreign exchange problems faced by the country.
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Pakistan Monitors Global Oil Prices as Israel-Hamas Conflict Intensifies
Karachi, October 9, 2023 – Pakistan is closely monitoring global oil prices as the Israel-Hamas conflict intensifies. The conflict escalated on Monday when Hamas launched attacks on Israeli installations last week, resulting in significant losses for both sides.
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Property Builders and Developers Demand Abolishing Section 7E
Karachi, October 9, 2023 – The Association of Builders and Developers (ABAD) of Pakistan has called upon the government to abolish Section 7E from the statute.
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Pakistani Rupee Reaches Record 23rd Straight Gain Against Dollar, Closes at PKR 281.65
Karachi, October 9, 2023 – The Pakistani Rupee (PKR) extended its remarkable winning streak for the 23rd consecutive session against the US dollar, ending at PKR 281.65 in the interbank foreign exchange market.
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