Karachi, November 26, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing transparency and accuracy in tax reporting by issuing a detailed list of particulars required for claiming depreciation deduction during the tax year 2024.
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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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Pakistani Rupee Likely to Stay Under Pressure Against Dollar Next Week Starting Nov 27
Karachi, November 26, 2023 – The Pakistani Rupee (PKR) is anticipated to remain under pressure against the U.S. dollar in the upcoming week starting November 27, 2023, as currency analysts suggest a narrow trading range due to mixed economic signals impacting the country’s currency.
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Implementation of Windfall Tax on Banks Contingent on Timely General Elections
Karachi, November 25, 2023 – The caretaker government finds itself in a challenging situation following the recent announcement of a windfall tax on banks, as the amendment necessitates approval from the National Assembly.
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Pakistan Announces Relaxation Period for Afghan Transit Goods Amid New Security Measures
Karachi, November 25, 2023 – Pakistan has declared a relaxation period for Afghan transit goods, alleviating some of the conditions previously imposed, including the requirement for bank guarantees.
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Pakistan Stock Market Hits Historic 59,000-Point Milestone in Record-Breaking Rally
Karachi, November 24, 2023 – The Pakistan stock market soared to new heights on Friday, breaching the 59,000-point level for the first time in the country’s history.
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Iran Proposes Border Markets with Pakistan to Boost Bilateral Trade
Karachi, November 24, 2023 – Iran has proposed the establishment of border markets along the Pakistan border to promote bilateral trade.
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Tax Collection from Dividend Surges 32% in First Four Months of Fiscal Year 2023-24
Karachi, November 24, 2023 – The withholding tax collection from dividend income has experienced a remarkable increase of 32 percent during the initial four months (July – October) of the fiscal year 2023-24, according to provisional data from the Large Taxpayers Office (LTO) in Karachi.
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Pakistan Develops New Documentation Law to Bring Wholesalers and Retailers in Tax Net
Islamabad, November 24, 2023 –Pakistan has developed a new documentation law aimed at bringing wholesalers and retailers under the tax net.
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