KARACHI, October 30, 2023 — In a significant development concerning income tax regulations in Pakistan, the Sindh High Court (SHC) has granted interim relief in a case related to deemed income under Section 7E of the Income Tax Ordinance, 2001.
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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 Maintains Benchmark Interest Rate at 22% on Easing Inflation Expectations
Karachi, October 30, 2023 – Pakistan has chosen to uphold the benchmark interest rate at 22 percent, anticipating a substantial decline in inflation. In a statement released by the State Bank of Pakistan (SBP) on Monday, the Monetary Policy Committee (MPC) cited their outlook for a decreasing inflation trend.
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Active Taxpayers List in Pakistan Reaches Record 4.98 Million
Karachi, October 30, 2023 –Active Taxpayers List (ATL) in Pakistan has reached a historic high of 4.98 million taxpayers as of October 29, 2023, according to official data released by the Federal Board of Revenue (FBR).
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FPCCI Requests 15-Day Extension in Tax Return Filing Deadline
Karachi, October 29, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has made a formal request for an additional 15-day extension to the deadline for filing income tax returns.
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Non-filers Face Disconnection of Mobile and Electricity Services After October 31, 2023
Karachi, October 29, 2023 – Non-filers of income tax returns in Pakistan are on the brink of losing their mobile phone and electricity connections after the looming deadline of October 31, 2023.
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Deadline Expires in Two Days for Illegal Foreign Nationals in Pakistan
As the clock ticks down to Tuesday, October 31, 2023, illegal foreign nationals in Pakistan are facing a crucial deadline to leave the country voluntarily.
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Pakistani Rupee May Recover Against Dollar Next Week Starting from October 30
Karachi, October 29, 2023 – The Pakistani Rupee (PKR) is expected to make a recovery against the US dollar in the upcoming week commencing from October 30, 2023.
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State Bank of Pakistan to Unveil Monetary Policy Decision on October 30, 2023
Karachi, October 29, 2023 – The State Bank of Pakistan (SBP) is gearing up to make a pivotal announcement on its monetary policy, set to take place on October 30, 2023.
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FPCCI Expresses Concern Over Gas Tariff Hike, Anticipates Impact on 4.3 Million Consumers
Karachi, October 28, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced its concern regarding the impending gas tariff hike and highlighted the potential adverse effects on a substantial number of consumers, estimated at around 4.3 million.
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Use of RMB for Cross-Border Settlement to Bolster Pakistan-China Trade Ties
Karachi, October 27, 2023 – The State Bank of Pakistan (SBP) has announced that the utilization of the Chinese Renminbi (RMB) for cross-border settlements will bolster bilateral ties between Pakistan and China.
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