Islamabad, June 21, 2023: In a significant move aimed at improving the financial well-being of government employees, the government of Pakistan has announced an 18% increase in the pension for pensioners of the Employees Old-Age Benefit Institution (EOBI).
(more…)Category: Budget 2023-2024
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Karachi Chamber Urges Restoration of Zero-Rating for Textile Industry
Karachi, June 20, 2023: Amidst economic instability, foreign exchange crisis, and declining exports, the Karachi Chamber of Commerce and Industry (KCCI) has called on the government to reinstate the zero-rating facility to support the survival of five export sectors during liquidity crunch periods.
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Tax Concession to Retailers Termed as Politically Motivated
Karachi, June 18, 2023 – The tax concession provided to retailers and jewelers through the Finance Bill, 2023 has come under scrutiny, with critics arguing that it is aimed at appeasing certain political groups in light of the upcoming general elections.
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FPCCI Urges Immediate Resolution to Anomalies in Budget 2023-24
Karachi, June 17, 2023: The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh, has called upon the government to promptly address the anomalies present in the recently announced Budget 2023-24.
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Pakistan Responds to IMF Concerns: Addressing Budget 2023-24 Issues
In response to concerns raised by the International Monetary Fund (IMF) regarding Pakistan’s budget for the fiscal year 2023-24, the country’s finance minister issued a statement on Friday, addressing the issues raised and reaffirming Pakistan’s commitment to the IMF program.
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Tax Experts Express Concerns over Increase in Threshold for Money Whitening
Tax experts have raised questions regarding the proposed enhancement of the foreign currency threshold for the money whitening scheme outlined in the Finance Bill of 2023.
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Highlights of Amendments To Income Tax Introduced Through Finance Bill 2023
Following are the highlights of income tax amendments proposed through Finance Bill, 2023. These highlights are prepared by experts of KPMG Taseer Hadi & Co. Chartered Accountants.
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Immunity to Bring Dollars into Pakistan May Lead to Misuse, Experts Warn
In a recent development, concerns have been raised by experts regarding the proposed immunity in the Finance Bill, 2023, which allows individuals to bring dollars into Pakistan.
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Pakistan Aims to Generate Rs870 Billion from Petroleum Levy in 2023-24
Despite Challenges, Pakistan Sets Ambitious Revenue Target for Petroleum Levy in the Next Fiscal Year
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Senate Committee Reviews Customs Duty Proposals in Finance Bill 2023
Islamabad, June 14, 2023: The Senate Standing Committee on Finance and Revenue recently conducted a comprehensive review of the proposed customs duty amendments introduced through the Finance Bill 2023.
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