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.
(more…)Category: Top stories
Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
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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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Pakistan Optimistic About $1.5 Billion Inflows Soon After IMF Disbursement
Islamabad, November 24, 2023 – Pakistan is optimistic about receiving $1.5 billion in inflows from various donor agencies soon after the disbursement by the International Monetary Fund (IMF).
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SBP Records $217 Million Dip in Forex Reserves Amidst External Debt Payments
Karachi, November 23, 2023 – The State Bank of Pakistan (SBP) has reported a decline of $217 million in its weekly foreign exchange reserves, attributing the decrease to the country’s external debt payments.
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Pakistan Stock Market Soars to New Heights, Closing at 58,900 Points in Record Bull Run
Karachi, November 23, 2023 – The Pakistan stock market witnessed another remarkable day of a bull run on Thursday, reaching an unprecedented high at 58,900 points.
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Banks May Seek Legal Remedy Against Newly Imposed Windfall Tax
Karachi, November 23, 2023 – Banks in Pakistan likely to seek legal remedies in response to the recent imposition of a tax on windfall income or profit.
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FBR Collects Withholding Tax Worth Rs 4 Billion on Reintroduced Cash Withdrawals from Banks
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Pakistan Stock Market Crosses Historic 58,000 Points Milestone Amid Positive Economic Outlook
Karachi, November 22, 2023 – The Pakistan stock market achieved a historic milestone today, reaching an unprecedented 58,000 points, signaling a positive turn for the nation’s economic landscape.
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LTO Karachi Summons Sugar Millers in Tax Fraud Probe
November 22, 2023 – The Large Taxpayers Office (LTO) Karachi, a crucial revenue collection arm of the Federal Board of Revenue (FBR), has intensified its investigation into sales tax fraud, summoning sugar millers to appear before an inquiry regarding the issuance of fake and flying invoices.
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Government Rejects PSMA Demand for Sugar Export, Prioritizing Consumer Interests