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.
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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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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.
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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).
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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.
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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.
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Pakistan Receives $30.25 Billion in Workers’ Remittances in FY24
Karachi, July 9, 2024 – Pakistan received $30.25 billion in workers’ remittances during the fiscal year 2023-24, according to a report by the State Bank of Pakistan (SBP) released on Tuesday. This represents an 11 percent increase compared to the $27.33 billion received in the preceding fiscal year.
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Finance Act 2024 Limits FBR in Issuing Assessment Notices
Karachi, July 9, 2024 – The Finance Act 2024 has introduced significant changes, imposing limitations on the Federal Board of Revenue (FBR) regarding the issuance of assessment notices. This move aims to streamline tax processes and provide clarity to taxpayers.
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FBR Predicts Significant Tax Revenue Growth for 2024-25
Islamabad, July 9, 2024 – Pakistan’s Federal Board of Revenue (FBR) reported a slight improvement in the country’s tax-to-GDP ratio, which reached 9% in the fiscal year 2023-24, up from 8.5% the previous year.
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FBR Records Nearly 5 Million Active Taxpayers for Tax Year 2023
Islamabad, July 8, 2024 – The Federal Board of Revenue (FBR) has reported a significant milestone, with nearly 5 million active taxpayers recorded for the tax year 2023 as of July 7, 2024.
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KSE-100 Soars to New Heights Despite Mid-Day Fire Disruption
Karachi, July 8, 2024 – In a day marked by both triumph and temporary setbacks, Pakistan’s benchmark stock index, the KSE-100, scaled new heights, reaching an all-time high of 80,566 points.
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