Karachi, September 5, 2023 – The State Bank of Pakistan (SBP) has released data indicating a significant surge in the central government’s total debt, which has reached an alarming Rs 61.75 trillion in July 2023.
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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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Rupee Hits Fresh Low at PKR 307.10 to Dollar in Fathomless Journey
Karachi, September 5, 2023 – The Pakistani Rupee (PKR) continued its relentless decline against the US dollar on Tuesday, reaching a fresh low of PKR 307.10 at the interbank closing.
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Pakistan Tightens Checks on Petroleum Levy Collection
Karachi, September 5, 2023 – Pakistan has taken significant steps to enhance oversight and control over the collection of petroleum levy, signaling a move towards more transparent and efficient revenue collection in the petroleum sector.
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FBR Reaffirms Tax Exemption for Agriculture Income under Updated Tax Laws
Karachi, September 5, 2023 – The Federal Board of Revenue (FBR) has affirmed that agriculture income is exempted from federal income tax laws in Pakistan.
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Pakistan Sets Diyat (Compensation) Amount at Rs 6.76 Million for FY 2023-24
Islamabad, September 5, 2023 – Pakistan has officially determined the amount of diyat (compensation) for the fiscal year 2023-24, setting it at Rs 6.76 million.
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Pakistan’s Active Taxpayers List Reaches Record High of 4.54 Million
Karachi, September 5, 2023 – Pakistan’s Active Taxpayers List (ATL) has reached an all-time high, with approximately 4.54 million individuals and businesses now on the list, according to official documents released by the Federal Board of Revenue (FBR), Pakistan’s apex tax agency.
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Pakistani Rupee Eases Against US Dollar, Reaches New Historic Low at PKR 305.64
Karachi, September 4, 2023 – The Pakistani Rupee (PKR) experienced a decline of 17 paisas against the US dollar on Monday, reaching a new historic low of PKR 305.64 in the interbank foreign exchange market.
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FBR Releases Guidelines for Tax Payment on Immovable Properties Under Section 7E
Karachi, September 4, 2023 – The Federal Board of Revenue (FBR) has issued comprehensive guidelines on the procedure for income tax payment under Section 7E of the Income Tax Ordinance, 2001.
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FBR Sets Conditions for Deduction of Bad Debts in Tax Year 2024
Karachi, September 3, 2023 – The Federal Board of Revenue (FBR) has issued guidelines specifying conditions for allowing deductions for bad debts during the tax year 2024.
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PTBA Criticizes FBR for Unlawful Changes to Return Filing Portal, Urges Swift Resolution
Karachi, September 3, 2023 – The Pakistan Tax Bar Association (PTBA) has strongly criticized the Federal Board of Revenue (FBR) for implementing unauthorized changes to the tax return filing system, causing significant challenges for taxpayers as the September 30, 2023 deadline approaches.
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