Karachi, May 9, 2024 – Pakistan has seen a robust increase in foreign exchange reserves this week, with an infusion of $1.143 billion, boosting the total reserves to $14.459 billion as of May 3, 2024, according to data released by the State Bank of Pakistan (SBP).
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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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FBR Receives Proposals to Clamp Down Benami Car Purchases
KARACHI, May 9, 2024 – The Federal Board of Revenue (FBR) is considering new measures for the 2024-25 budget to combat benami (anonymous) transactions in the automobile sector and to enhance tax collection across various sectors.
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Pakistan Borrows Record Rs 6 Trillion from Commercial Banks
KARACHI, May 9, 2024 – Pakistan has set a new record in domestic borrowing, securing approximately Rs 6 trillion from commercial banks during the first ten months of fiscal year 2023-24, primarily to finance its burgeoning budget deficit.
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PM Shehbaz Sharif Declares Education Emergency in Pakistan
Islamabad, May 8, 2024 – Aimed at addressing the educational crisis, Prime Minister Shehbaz Sharif announced an “Education Emergency” across Pakistan.
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FBR Crackdown on Non-Filers Threatens 2.5 Million SIMs
Karachi, May 8, 2024 – The Federal Board of Revenue (FBR) has issued a directive that could lead to the suspension of approximately 2.5 million mobile phone SIMs.
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Key Changes to Income Tax Ordinance through New Laws 2024
The Income Tax Ordinance, 2001 has undergone significant revisions through the enactment of new Tax Laws (Amendment) Act, 2024.
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Thousands of Cases Stuck Amid Missing Rules for New Tax Laws
As the government rolled out the Tax Laws (Amendment) Act, 2024, thousands of tax cases have been bottlenecked at various tribunals, casting a shadow over the efficacy of the new legislative framework.
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PTCL Battles Extensive Tax Contingencies into 2024
Karachi, May 7, 2024 – Pakistan Telecommunication Company Limited (PTCL) has unveiled a comprehensive report on its tax contingencies for the fiscal year ending December 31, 2023.
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CMOs Push Back Against SIM Block Directive for Tax Non-Filers
In a recent turn of events that has the telecom industry at odds with the Federal Board of Revenue (FBR), Cellular Mobile Operators (CMOs) in Pakistan have voiced significant apprehensions regarding the FBR’s directive to block SIM cards of tax non-filers.
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PM Shehbaz Commits Unwavering Support to Saudi Investment
Prime Minister Shehbaz Sharif has extended Pakistan’s steadfast backing to Saudi investment endeavors, promising a conducive environment for investors and businessmen to swiftly execute their projects in Pakistan through joint ventures.
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