ISLAMABAD, April 26, 2024 – The Pakistan Bureau of Statistics (PBS) has reported a notable reduction in the prices of several essential commodities for the week ending on April 25, 2024, offering some relief to consumers amidst ongoing economic challenges.
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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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Pakistan State Oil Reports 30% Profit Surge Over Nine Months
Pakistan State Oil (PSO), the nation’s leading fuel supplier, has reported a robust 30 percent year-on-year increase in after-tax profits for the first nine months of the fiscal year 2023-24, signaling strong financial health amidst challenging economic conditions.
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FBR Clarifies Tax Amendments with SRO 350 to Address Queries
Karachi, April 25, 2024 – The Federal Board of Revenue (FBR) has recently elucidated several key amendments to the Sales Tax Rules, 2005, through SRO 350 (I)/2024, aiming to clear up the prevalent ambiguities surrounding these changes.
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Pakistan’s Total Forex Reserves Dip to $13.28 Billion
Karachi, April 25, 2024 – Pakistan’s total foreign exchange reserves have experienced a notable decline, settling at $13.28 billion, as revealed by the latest figures from the State Bank of Pakistan (SBP).
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FPCCI Flags SRO 350 as Anti-Business, Claims to Halt Industry
Karachi, April 25, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced significant concerns over the Federal Board of Revenue’s (FBR) recent regulatory changes, labeling the Statutory Regulatory Order (SRO) 350 as anti-business and a potential threat to the ongoing viability of trade and industry sectors across Pakistan.
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FBR Advised to Hike Tax for Non-ATL Electricity Consumers
Karachi, April 25, 2024 – In a recent move to widen the tax base, the Federal Board of Revenue (FBR) has been advised to increase the tax rates for residential electricity consumers not listed on the Active Taxpayers List (ATL).
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Bill to Curtail Jurisdiction of Commissioner IR Appeals Presented
In a move to streamline the tax appeal process, the federal government has introduced a new bill in the National Assembly aimed at curtailing the jurisdiction of the Commissioner Inland Revenue (IR) Appeals of the Federal Board of Revenue (FBR).
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PM Shehbaz Sharif Orders FBR to Postpone SRO 350
Karachi, April 24, 2024 – In a significant move aimed at alleviating the concerns of the business sector, Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to defer the implementation of the controversial Statutory Regulatory Order (SRO) 350.
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Pakistan and Iran Set to Finalize Free Trade Agreement
Islamabad, April 24, 2024 – In a landmark move to strengthen economic ties, Pakistan and Iran have agreed to expedite the finalization of a Free Trade Agreement (FTA).
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KSE-100 Index Soars to Record High, Hits 72,052 Points
Karachi, April 24, 2024 – The Pakistan Stock Exchange (PSX) witnessed a significant milestone on Wednesday as the KSE-100 index climbed to a new all-time high of 72,052 points, marking a robust day of trading that saw the index ascend by 692 points from the previous session’s close of 71,360 points.
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