Islamabad, September 15, 2024 – In a major relief to consumers, Pakistan announced a sharp reduction in petroleum prices for the second half of September 2024.
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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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Withholding Tax Rates for Telephone and Internet in TY 2024-25
Karachi, September 15, 2024 – The Federal Board of Revenue (FBR) has updated the withholding tax rates on the usage of telephone and internet services for the tax year 2024-25. This update follows the release of the FBR’s withholding tax card for the current tax year, which outlines the applicable tax rates under Section 236 of the Income Tax Ordinance, 2001.
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Pakistani Rupee Outlook Against Dollar Remain Stable Next Week
KARACHI: The Pakistani rupee is expected to maintain stability against the US dollar in the coming week, supported by ample dollar liquidity, healthy remittances, and reduced imports driven by declining global oil prices.
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FBR Steps Up Advance Tax Collection to Meet Revenue Targets
ISLAMABAD – September 14, 2024 – The Federal Board of Revenue (FBR) is ramping up its efforts to ensure timely collection of advance tax payments from banks and the corporate sector as it aims to meet its quarterly revenue target of Rs2.652 trillion for the fiscal year 2024-25.
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Gold Prices in Pakistan Hit New Record Rs 266,300
Karachi, September 14, 2024 – Gold prices in Pakistan continued their bullish trend on Saturday, marking another record high as market uncertainty and global trends fueled a surge in demand for the precious metal. According to the latest figures, the price of 24-karat gold rose by Rs 400, reaching Rs 266,300 per tola, surpassing the previous day’s closing of Rs 265,900.
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National Savings Announces Sharp Cut in Profit Rates
Karachi, September 13, 2024 – The Central Directorate of National Savings (CDNS) announced a significant reduction in profit rates for various savings certificates and accounts on Friday, following the State Bank of Pakistan’s (SBP) decision to cut its key policy rate.
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Gold Price in Pakistan Soars to Record High of Rs 265,900 per Tola
Karachi, September 13, 2024 – Gold prices in Pakistan surged to a new all-time high, hitting Rs 265,900 per tola (11.66 grams) on Friday, September 13, 2024. This sharp increase followed a rise from the previous day’s closing price of Rs 263,000 per tola. The latest surge surpassed the previous record of Rs 264,000, which was also reached earlier the same day.
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Petroleum Prices in Pakistan Dip 15% YoY in September: PBS
Islamabad, September 13, 2024 – The Pakistan Bureau of Statistics (PBS) has reported a notable decline in petroleum prices for September 2024, with diesel and petrol prices falling by 15.64% and 15.03% year-on-year (YoY), respectively.
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Is Pakistan on the Verge of Introducing Mini-Budget?
Karachi – The Pakistani government is gearing up to introduce a mini-budget aimed at generating an additional Rs650 billion in revenue. This fiscal strategy will primarily target tax evaders and include an increase in the General Sales Tax (GST) on properties, tractors, and other goods.
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SBP Sharply Reduces Policy Rate by 200 bps to 17.5%
Karachi, September 12, 2024 – The State Bank of Pakistan (SBP) has announced a significant policy rate cut of 200 basis points (bps), bringing the rate down to 17.5%.
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