Karachi, December 20, 2024 – Leading tax experts have expressed grave concerns over the proposed amendments to tax laws, warning that these measures could unintentionally drive a significant shift towards a cash-based economy.
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Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
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Pakistan Prohibits Bank Cash Withdrawals for Tax Dodgers
Karachi, December 19, 2024 – Pakistan has decided to implement stringent measures to curb tax evasion by prohibiting bank cash withdrawals for individuals who evade taxes.
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Pakistan Stock Market Crashes 4.32% on New Tax Bill
Karachi, December 19, 2024 – The Pakistan Stock Exchange (PSX) on Thursday experienced a dramatic downturn, closing with a significant loss of 4.32% amid widespread negative sentiments triggered by the introduction of a new tax bill by the government of Pakistan.
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FBR Set to Ban Cash Withdrawals by Non-Filers
Karachi, December 18, 2024 – The Federal Board of Revenue (FBR) is poised to introduce a significant change in the banking sector with the potential imposition of a ban on cash withdrawals by individuals who are non-filers of income tax returns.
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PSX Dwindles 2.78% in Midday Trading Amid Selling Pressure
The Pakistan Stock Exchange (PSX) experienced a sharp decline on Wednesday, with the benchmark KSE-100 index plummeting by 3,196 points or 2.78% by midday trading at approximately 3:00 PM. The index fell to 111,665 points, down from the previous day’s closing of 114,861 points.
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Pakistan Records 31.3% Increase in FDI During 5MFY25
Karachi: Pakistan has witnessed a significant 31.3% surge in foreign direct investment (FDI) during the first five months (July–November) of the fiscal year 2024-25, reflecting growing investor confidence in the country’s economic prospects.
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Pakistan Posts $944 Million Current Account Surplus in 5MFY25
Karachi, December 17, 2024 – Pakistan has reported a significant current account surplus of $944 million for the first five months (July to November) of the fiscal year 2024-25, according to balance of payment data released by the State Bank of Pakistan (SBP) on Tuesday.
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FBR Integrates FMCG Sector with Digital Invoicing System
Islamabad, December 17, 2024 – The Federal Board of Revenue (FBR) has taken a significant step toward enhancing transparency and compliance by integrating the Fast-Moving Consumer Goods (FMCG) sector with its digital invoicing system. This initiative aims to streamline tax collection and improve documentation within the sector.
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SBP Warns of Inflation Risks from Potential Tax Measures
Karachi, December 17, 2024 – The State Bank of Pakistan (SBP) has expressed concerns over potential risks to the inflation outlook, particularly due to the possibility of additional tax measures. During a briefing following the latest decision by the Monetary Policy Committee (MPC), analysts at Insight Securities (Pvt) Ltd noted that the SBP Governor indicated a more optimistic outlook for FY25.
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Aurangzeb Lauds Formal Sector for Bearing Tax Burden
Islamabad, December 16, 2024 – Finance Minister Muhammad Aurangzeb has commended the formal sector for shouldering the brunt of front-loaded tax measures introduced under the government’s economic stabilization program.
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