Islamabad, August 13, 2023 – In a significant move, the government of Pakistan has taken a step to provide stability and continuity in the leadership of trade bodies by extending the tenure of office bearers and members of executive committees.
(more…)Author: Shahnawaz Akhter
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Mastermind Behind Fake Invoice Scam Apprehended by Karachi’s IR Intelligence
The Directorate of Intelligence and Investigation (I&I) of Inland Revenue in Karachi has successfully apprehended the mastermind behind a colossal sales tax scam involving the creation and use of fake and flying invoices.
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Sindh Revenue Board Extends Deadline for July 2023 Sales Tax Return Filing
Karachi, August 11, 2023 – In a recent development, the Sindh Revenue Board (SRB) has decided to grant an extension for the filing of sales tax returns for the month of July 2023.
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Remittances from UAE into Pakistan plummet by 31% in July 2023
Karachi, August 10, 2023 – The State Bank of Pakistan (SBP) has reported a significant drop in remittances from Pakistani workers in the United Arab Emirates (UAE) during the month of July 2023, revealing a concerning decline of 31 percent compared to the same period in the previous year.
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Engro Polymer Records 61% Decline in Half-Year After-Tax Profit
Karachi, August 10, 2023 – Engro Polymer and Chemicals Limited (EPCL) has encountered a substantial 61 percent drop in profit after tax for the half-year ending June 30, 2023.
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Bank Alfalah Achieves Remarkable 113% Half-Year Profit Surge
Karachi, August 10, 2023 – Bank Alfalah, a prominent player in Pakistan’s financial sector, has stunned the market by announcing an astounding 113 percent growth in net profit for the half-year ending June 30, 2023.
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Meezan Bank Achieves Impressive 93% After-Tax Profit Growth in First Half of 2023
Karachi, August 10, 2023 – Meezan Bank Limited (MEBL), the leading Islamic bank in Pakistan, has reported a remarkable 93 percent increase in after-tax profit for the first half of the year ending on June 30, 2023.
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Record High Bank Deposits Reach Rs25.70 Trillion in Pakistan
Karachi, August 9, 2023 – Deposits in commercial banks in Pakistan have reached an all-time high of Rs25.70 trillion by the end of July 2023, driven by the country’s highest interest rates.
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FBR Launches Transaction Recording for Aggressive Crackdown on Tax Evaders
Karachi, August 9, 2023 – The Federal Board of Revenue (FBR) has taken a significant step in its pursuit of tax evaders by launching an information portal to record all transactions.
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Non-ATL Property Buyers to Face 250% Higher Income Tax in FY 2023-24
Karachi, August 8, 2023 – The non-ATL buyers of immoveable property will face 250 percent higher tax during fiscal year 2023-24, according to the Federal Board of Revenue (FBR).
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