Karachi, November 11, 2023 – The fiscal landscape of Pakistan has witnessed a remarkable surge, with tax collection from profit on debt skyrocketing by an impressive 103 percent, propelled by the prevailing high-interest rates, according to an official report.
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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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State Bank of Pakistan Sheds Light on Key Tax Measures Introduced in FY23
Karachi, November 11, 2023 – The State Bank of Pakistan (SBP) has shed light on pivotal tax measures unveiled in the fiscal year 2022-23, emphasizing the transformative impact of these initiatives on the economic landscape.
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Pakistan Stock Market Reaches Highest-Ever Level of 55,391 Points
Karachi, November 10, 2023 – The Pakistan stock market reached unprecedented heights on Friday, soaring to 55,391 points.
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Pakistan Records 26% YoY Growth in Total Debt in 1QFY24
Karachi, November 10, 2023 – Pakistan has experienced a significant uptick of 26 percent in its total debt during the first quarter (July – September) of the current fiscal year 2023-24, as revealed by official data released on Friday.
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FBR Introduces Electronic Sales Tax Invoice Rules to Modernize Transaction Recording
Islamabad, November 10, 2023 – The Federal Board of Revenue (FBR) has taken a significant step toward modernizing tax documentation with the issuance of rules for electronic sales tax invoices.
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Pakistani Rupee Takes 14th Hit Against Dollar to End PKR 287.03
Karachi, November 10, 2023 – The Pakistani Rupee (PKR) continued its downward trend for the 14th consecutive session against the US dollar, closing at PKR 287.03 on Friday.
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Bank Deposits in Pakistan Hit New Peak at Rs 26.40 Trillion
Karachi, November 10, 2023 – Bank deposits in Pakistan have hit new peak at Rs 26.40 trillion by the end of October 2023, according to official data released on Friday by the State Bank of Pakistan (SBP).
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Pakistan Experiences 11.54% Surge in Foreign Remittances Amidst Crackdown on Smuggling
Karachi, November 10, 2023 –Pakistan has recorded a substantial 11.54% increase in foreign remittances, reaching $2.46 billion in October 2023. This surge, as reported by the State Bank of Pakistan (SBP) on Friday, is attributed to the government’s robust crackdown against currency smuggling and hoarding.
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Pakistan Set to Announce Petroleum Prices for Second Half of November 2023
Islamabad, November 10, 2023 – As Pakistan prepares to unveil petroleum prices for the second half of November 2023, set to take effect from November 16, the government faces a delicate balancing act amid a gradual depreciation of the Pakistani Rupee (PKR) and a notable decline in global oil prices.
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Tax Rates on Foreign Transactions via Credit or Debit Cards Unveiled for Tax Year 2024
Tax rates on foreign transactions through credit or debit cards have been unveiled for tax year 2024 by the Federal Board of Revenue (FBR).
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