Karachi, September 24, 2024 – The gold market in Pakistan hit a record-breaking milestone on Tuesday, with the price of 24-karat gold reaching an all-time high of Rs 273,000 per tola. This increase comes after a surge in global gold prices, further exacerbating the domestic market trends.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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Mari Petroleum Announces Rs 10 Billion Equity Investment
Karachi, September 24, 2024 – Mari Petroleum Company Limited (MPCL) has announced a significant equity investment of Rs 10 billion into a newly proposed subsidiary company. This move is part of the company’s broader strategy to diversify its business portfolio and explore emerging sectors beyond its traditional focus on petroleum exploration and production.
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FBR Extends Collection Timings for Pakistan Customs to Boost Revenue
Karachi, September 24, 2024 – In a strategic move to address revenue shortfalls, the Federal Board of Revenue (FBR) has extended collection timings for Pakistan Customs, aiming to generate additional revenue through enhanced duty and tax collection.
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PTBA Raises Voice for Taxpayers in Return Filing Deadline Relief
Karachi, September 24, 2024 – The Pakistan Tax Bar Association (PTBA) has taken a stand for taxpayers by formally requesting Prime Minister Shehbaz Sharif to extend the deadline for filing tax returns. In a letter to the Prime Minister, the PTBA expressed concerns about the challenges faced by taxpayers in meeting the September 30 deadline, citing technical issues with the Federal Board of Revenue’s (FBR) online system and the increasing financial strain on tax filers.
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FBR Urges Citizens to File Income Tax Returns Before September 30 Deadline
Karachi, September 23, 2024 – The Federal Board of Revenue (FBR) has called on citizens to submit their income tax returns for the tax year 2024 before the approaching deadline of September 30, 2024. In a statement released on Monday, the FBR emphasized that the deadline would not be extended, urging individuals to fulfill their legal obligations promptly.
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Taxpayers in Pakistan Rush to Secure Active Status Amid FBR’s Stringent Measures
Karachi, September 23, 2024 – A growing sense of urgency has gripped taxpayers in Pakistan, as individuals and businesses rush to attain “active taxpayer” status to avoid severe repercussions from the Federal Board of Revenue (FBR).
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OGDCL and CCDC Sign MoU for Shale and Tight Gas Exploration in Pakistan
Islamabad, September 22, 2024 – In a significant move to harness Pakistan’s indigenous energy resources, the Oil and Gas Development Company Limited (OGDCL) has signed a Memorandum of Understanding (MoU) with China’s CCDC to explore shale and tight gas reserves in Pakistan.
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FBR to Leverage AI for Examining TY 2024 Income Tax Returns
Karachi, September 22, 2024 – The Federal Board of Revenue (FBR) has announced its decision to utilize Artificial Intelligence (AI) for an in-depth examination of income tax returns and wealth declarations submitted for the tax year 2024.
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EDF Approves Rs 20 Billion Proposals to Boost Export Growth
Islamabad, September 22, 2024 – In a significant push for Pakistan’s export sector, the Export Development Fund (EDF) has approved 20 key proposals worth Rs 8.5 billion across industries including textiles, agriculture, gems and jewelry, defense, and global branding initiatives. These initiatives aim to drive export growth and enhance Pakistan’s presence on the international stage.
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Rupee Stability to Dollar Hinges on IMF Loan Approval
Karachi, September 22, 2024 – The stability of the Pakistani rupee against the US dollar in the coming week largely depends on the approval of a $7 billion loan by the International Monetary Fund’s (IMF) executive board.
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