Karachi, December 3, 2024 – The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index reached an unprecedented milestone on Tuesday, closing at 104,559 points, driven by strong investor sentiment surrounding an anticipated rate cut by the State Bank of Pakistan (SBP). This surge represents an impressive gain of 1,284 points from the previous day’s close at 103,275 points.
(more…)Category: Top stories
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.
-
FBR Implements New Tax Rates on Sale of Immovable Property
KARACHI, December 3, 2024 – The Federal Board of Revenue (FBR) has announced updated advance tax rates on the sale or transfer of immovable property in Pakistan for the tax year 2025. These changes, outlined under Section 236C of the Income Tax Ordinance, 2001, aim to streamline tax compliance and ensure clarity for property transactions.
(more…) -
PM Shehbaz Hopes for Further Rate Cuts After Inflation Drops
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday hailed the remarkable decline in inflation to 4.9%—the lowest in six and a half years—expressing optimism that this milestone could lead to further reductions in the key policy rate by the State Bank of Pakistan (SBP). Speaking during a federal cabinet meeting, Shehbaz emphasized the importance of leveraging this development to improve the financial well-being of the general public.
(more…) -
KSE-100 Hits New High of 103,275 Points Amid Bull-Run
Karachi, December 2, 2024 – The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index surged to an unprecedented high of 103,275 points on Monday, marking a significant milestone in the ongoing bull run.
(more…) -
FBR Adds 0.3 Million Active Taxpayers to ATL for 2024 in November
Karachi, December 2, 2024 – The Federal Board of Revenue (FBR) has added approximately 0.3 million taxpayers to its Active Taxpayers List (ATL) for the tax year 2024 during November. The updated list now reflects 5.64 million active taxpayers as of December 1, 2024, based on income tax returns filed up to that date.
(more…) -
Pakistan’s Headline Inflation Drops to 4.9% in November 2024
Karachi, December 2, 2024 – Pakistan’s headline inflation, measured through the Consumer Price Index (CPI), eased significantly to 4.9% year-on-year in November 2024, reflecting improved economic stability.
(more…) -
FBR Amends Rules for Temporary Import of Vehicles
Karachi, December 2, 2024 – The Federal Board of Revenue (FBR) has introduced significant amendments to the rules governing the temporary import of vehicles by tourists into Pakistan. These changes, formalized through SRO 1965(I)/2024 on November 27, 2024, modify Rule 77 of the Customs Rules, 2001, with stricter conditions and streamlined processes.
(more…) -
FBR Implements Sunday Reshuffle of IRS Officers
Karachi, December 1, 2024 – In an uncommon weekend move, the Federal Board of Revenue (FBR) announced a significant reshuffling of Inland Revenue Service (IRS) officers, signaling its urgency to address a growing revenue shortfall.
(more…) -
Tax on Telephone and Internet Users in Pakistan for TY 2025
Karachi, December 1, 2024 – The Federal Board of Revenue (FBR) has reiterated its policy of collecting advance income tax from telephone and internet users under Section 236 of the Income Tax Ordinance, 2001.
(more…) -
Fake Sales Tax Invoices Land CFOs in Hot Water with FBR
Karachi, December 1, 2024 – Chief Financial Officers (CFOs) of companies implicated in submitting fake sales tax invoices are under strict scrutiny by the Federal Board of Revenue (FBR). The national tax agency has vowed to take severe actions against individuals and organizations involved in such fraudulent practices, which have caused significant losses to the national exchequer.
(more…)