Karachi, January 19, 2024 – The Federal Board of Revenue (FBR) in Pakistan has recently released the updated Income Tax Ordinance for the tax year 2024, shedding light on the tax rules applicable to the insurance industry.
(more…)Category: Top stories
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.
-
Pakistan Records $112 Million Decline in Forex Reserves
Karachi, January 18, 2024 – Pakistan has experienced a decline in foreign exchange reserves by $112 million on a weekly basis, according to an announcement by the State Bank of Pakistan (SBP) on Thursday.
(more…) -
KSE-100 Index Suffers 1,436-Point Drop in Four-Day Bearish Spell
Karachi, January 18, 2024 – The Pakistan Stock Exchange (PSX) witnessed a formidable downturn as the benchmark KSE-100 index plummeted by 1,436 points during a persistent four-day losing streak, marking a significant shift in market sentiment on Thursday.
(more…) -
FBR Announces Depreciation Rates for Tax Year 2024
Karachi, January 18, 2024 – In a move aimed at facilitating businesses and promoting transparency, the Federal Board of Revenue (FBR) has officially notified the depreciation rates for the Tax Year 2024.
(more…) -
LHC Directs FBR to Halt Forceful Tax Recovery
Islamabad, January 18, 2024 – The Lahore High Court (LHC) has issued a landmark directive to the Federal Board of Revenue (FBR), instructing them to caution taxation officers against forceful tax recovery measures that infringe upon the fundamental rights of taxpayers.
(more…) -
Pakistan Witnesses 35% Surge in FDI During 1HFY24
Karachi, January 17, 2024 – The State Bank of Pakistan (SBP) released a report on Wednesday, revealing a remarkable 35 percent surge in foreign direct investment (FDI) into the country during the first half (July-December) of fiscal year 2023-24.
(more…) -
Pakistan Records Massive Contraction of 77% in CAD for 1HFY24
Karachi, January 17, 2024 – In a remarkable turn of events, Pakistan has witnessed a substantial contraction of 77% in its Current Account Deficit (CAD) during the first half (July – December) of the current fiscal year, according to data released by the State Bank of Pakistan (SBP).
(more…) -
Pakistan Announces Tax Amnesty for 2024
Karachi, January 17, 2024 – Pakistan has taken a significant step to boost its economy by announcing a tax amnesty for certain foreign currency transactions during the tax year 2024.
(more…) -
FTO Exposes Flaws in Valuation of Immovable Properties
Karachi, January 16, 2024 – The Federal Tax Ombudsman (FTO) has unearthed significant flaws in the valuation of immovable properties across Pakistan, revealing a lack of attention from the Federal Board of Revenue (FBR) and incompetence that has left the field vulnerable to the discretion of provincial and FBR’s field staff.
(more…) -
Salaried Persons Bank Deposits Surge by Over 20% in 2023
Karachi, January 16, 2024 – Salaried persons in Pakistan have shown a remarkable inclination towards the banking system, as their deposits experienced a substantial surge of over 20 percent in the year 2023.
(more…)