The Federal Board of Revenue (FBR) is considering implementing special measures to examine taxpayers who filed their annual returns without making any tax payments.
Islamabad, June 5, 2023: A high-powered commission, appointed by the finance minister of Pakistan, has expressed concerns regarding the verification of freight charges in CFR/CNF (Cost and Freight/Cost, Insurance, and Freight) invoices, which has led to potential underdeclaration of CNF values and the exclusion of freight charges on the Bill of Lading.
Islamabad, June 5, 2023 – The Economic Coordination Committee (ECC) of the Cabinet granted its approval on Monday for a government guarantee amounting to Rs9.2 billion towards the construction of the Hyderabad-Sukkur motorway.
In the interbank foreign exchange market on Monday, June 5, 2023, the Pakistani Rupee (PKR) experienced a decline of 51 paisas against the US dollar.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
Pakistan is contemplating a potential restriction on cash payments for fuel purchases at petrol pumps as part of an effort to promote digitalization and curb financial irregularities.
Islamabad, Pakistan – Pakistan has announced updated petroleum prices ahead of the highly anticipated federal budget for the fiscal year 2023-24, scheduled to be announced on June 9, 2023.
Islamabad, June 4, 2023 – Prime Minister Muhammad Shehbaz Sharif has said that Pakistan and Turkey are set to increase their bilateral trade to $5 billion annually over the next three years.
The Pakistan Budget for the fiscal year 2023-2024 faces significant challenges due to stagflation, uncertainties surrounding the upcoming elections, and the country’s external account funding gap.
Karachi, June 3, 2023 – Local auto assemblers have strongly opposed a budget proposal for the fiscal year 2023-24 that suggests levying the Withholding Tax (WHT) based on invoice prices of motor vehicles instead of engine capacity. Industry representatives argue that this change could further distress an already struggling auto sector, leading to a decline […]