Karachi, August 29, 2023 – The National Bank of Pakistan (NBP) has reported an astounding 122 percent increase in after-tax profit for the first half of the calendar year 2023.
(more…)Author: Shahnawaz Akhter
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Foreign Investors Repatriate Only $2.1 Million in July 2023; Plunge by 87%
Karachi, August 28, 2023 – Foreign investors operating in Pakistan have repatriated a meager $2.1 million in July 2023, marking a staggering 87 percent plunge compared to the same month in the previous year.
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FBR Identifies Eligible Taxpayers for Initial Allowance
Karachi, August 29, 2023 – The Federal Board of Revenue (FBR) has taken a significant step toward providing tax relief to eligible taxpayers by identifying those qualified for the grant of an initial allowance.
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FBR Issues Mandatory Rules for Declaration of Beneficial Owners by Corporate Entities
Karachi, August 28, 2023 – The Federal Board of Revenue (FBR) took a significant step on Monday by issuing new rules that make it mandatory for corporate entities to declare their beneficial owners.
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Karachi Chamber Urgently Calls for Relief in Electricity Bills, Seeks Immediate Action by Tomorrow
Karachi, August 28, 2023 – The Karachi Chamber of Commerce and Industry (KCCI) has made an urgent appeal for immediate relief in electricity bills for businesses and the general public.
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Citizens Rush to Attain Active Taxpayer Status to Avoid Soaring Electricity Bills
Karachi, August 28, 2023 – In a remarkable development, a significant surge has been observed in Pakistan’s Active Taxpayers List (ATL), driven by citizens seeking this status to circumvent skyrocketing electricity bills.
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Dollar Touches New Peak at PKR 302 Against Rupee in Interbank Closing on August 28
Karachi, August 28, 2023 – In a concerning development for Pakistan’s economy, the US dollar soared to a historic high of PKR 302 at the close of the interbank foreign exchange market on Monday, August 28.
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Pakistani Rupee Hits New Intraday Low at PKR 301.75 Against Dollar
Karachi, August 28, 2023 – The Pakistani Rupee (PKR) experienced a new intraday low against the US dollar on Monday, reaching PKR 301.75 during trading.
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UNISAME Urges Revision of Solar Panel Import Policy to Support SMEs
Karachi, August 28, 2023 – The Union of Small and Medium Enterprises (UNISAME) has called upon authorities to review the import policy for solar panels in order to streamline the process and facilitate small and medium-sized enterprise (SME) importers.
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FBR Updates Depreciation Rates Under Income Tax Ordinance for Tax Year 2023-24
Islamabad, August 28, 2023 – In a move aimed at providing clarity and consistency in tax calculations for businesses across Pakistan, the Federal Board of Revenue (FBR) has announced updated depreciation rates under the Income Tax Ordinance, 2001, for the tax year 2023-24.
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