Karachi, July 26, 2023 – The Federal Board of Revenue (FBR) has declared that the newly introduced tax on bonus shares is applicable to both public and private companies.
(more…)Author: Shahnawaz Akhter
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Tax Makeover: Capital Gains on Securities and Shares Get Fresh Look
Karachi, July 26, 2023 – The Federal Board of Revenue (FBR) has announced significant tax amendments pertaining to capital gains on securities and shares through an official notification, Circular No. 2 of Income Tax.
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Breaking Barriers: FBR Expands Associate Scope to Tackle Tax Avoidance
Karachi, July 26, 2023 – In a bid to strengthen its efforts against tax avoidance, the Federal Board of Revenue (FBR) has taken a significant step by enlarging the scope of associate.
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Pakistan Amends Laws to Tax Virtual Businesses of Foreign Entities
Karachi, July 26, 2023 – In a significant move, Pakistan has revised its tax laws to include virtual businesses operated by foreign entities within the scope of taxation.
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FBR Implements Bar on Property Purchases for Section 7E Defaulters
Karachi, July 26, 2023 – In a significant move aimed at ensuring tax compliance, the Federal Board of Revenue (FBR) has announced that individuals defaulting under Section 7E of the Income Tax Ordinance, 2001, will be barred from purchasing immovable properties.
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FBR Unveils Updated Tax Rates for Salaried Persons in 2023-24
Islamabad, July 26, 2023 – The Federal Board of Revenue (FBR) has recently updated the tax rates for salaried individuals for the tax year 2023-24.
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State Bank of Pakistan Issues New Instructions on Import of Cash US Dollars
Karachi, July 26, 2023 – The State Bank of Pakistan (SBP) has recently issued a set of comprehensive instructions regarding the import of cash US dollars through cargo or security companies.
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Private Sector Loans Nose-Dive 87% in FY23 Due to High Interest Rates and Slowdown
Karachi, July 25, 2023 – Pakistan’s private sector has been hit hard by the economic slowdown and high interest rates, as bank loans plummeted by a staggering 87 percent in the fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
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IMF Loan Success: Pakistan Wins Applause from Foreign Investors for Economic Resilience
Karachi, July 24, 2023 – Foreign investors have expressed their appreciation for Pakistan’s successful efforts in securing a $3 billion IMF loan under the Stand By Agreement (SBA).
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FBR Sets Deadline for Income Return Filing for Tax Year 2023
Islamabad, July 24, 2023 – The Federal Board of Revenue (FBR) has officially declared the deadline for filing income tax returns for the Tax Year 2023.
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