Islamabad: Finance Minister Muhammad Aurangzeb has announced that the size of the new International Monetary Fund (IMF) Extended Fund Facility (EFF) for Pakistan will be determined within a week.
(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 to Unveil Fixed Tax Rates for Traders and Retailers
Islamabad: The Federal Board of Revenue (FBR) is set to announce a new, simplified tax system tailored for traders, shopkeepers, and retailers in 42 Pakistani cities. This initiative aims to replace the existing complex square-footage based tax system with a more straightforward flat tax rate determined by shop location and category.
(more…) -
SBP Relaxes Conditions for IT Companies to Invest Abroad
Karachi, July 11, 2024 – The State Bank of Pakistan (SBP) has announced a relaxation in conditions for IT sector companies regarding equity investments abroad. This move, unveiled on Thursday, aims to facilitate export-oriented companies in expanding their international presence and boosting the country’s exports.
(more…) -
PM Shehbaz Directs Action Against Corruption in Pakistan Customs
Prime Minister Shehbaz Sharif chaired a significant meeting on Thursday, focusing on eliminating corruption within Pakistan Customs while enhancing operational efficiency through advanced technology.
(more…) -
FBR Clarifies SRO 350 After Taxpayer Concerns
Karachi, July 10, 2024 – The Federal Board of Revenue (FBR) has responded to concerns raised by taxpayers, businesses, and tax professionals regarding complications arising from SRO 350(I)/2024, a regulation impacting sales tax return filing.
(more…) -
Pakistan Faces 18% Decline in Car Sales for FY24
Karachi, July 10, 2024 – Pakistan’s automotive sector has witnessed a notable decline in car sales, reporting an 18% drop for the fiscal year 2023-24, according to data released by the Pakistan Automotive Assemblers Association (PAMA) on Wednesday.
(more…) -
PAAPAM Demands Regulatory Duty on All Old and Used Cars
Islamabad, July 10, 2024 — The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has called for the imposition of regulatory duty across the board on all old and used motor cars.
(more…) -
SRO 350 Sparks Controversy as PBC Raises Tax Return Concerns
Karachi, July 9, 2024 – The Pakistan Business Council (PBC) has raised significant concerns regarding recent amendments to the Sales Tax Rules, 2006, introduced through SRO 350(I)/2024 by the Federal Board of Revenue (FBR).
(more…) -
KSE-100 Index Touches New Peak at 80,672 Points
Karachi, July 9, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) surged to a new peak, closing at 80,672 points on Tuesday. The index gained 106 points from the previous day’s closing of 80,566 points, which had been the record high.
(more…) -
PM Shehbaz Unveils Energy Subsidy for Low-Income Households
Islamabad, July 9, 2024 – Prime Minister Shehbaz Sharif announced on Tuesday a Rs50-billion energy subsidy package aimed at easing the financial burden on low-income households consuming less than 200 units of electricity.
(more…)