Karachi, July 27, 2023 – Pakistan’s foreign exchange reserves experienced a significant decline of $530 million for the week ended July 21, 2023, according to a report by the State Bank of Pakistan (SBP).
(more…)Category: Top stories
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.
-
SBP Ready to Unveil Interest Rate Fate Following IMF Deal
Karachi, July 27, 2023 – The State Bank of Pakistan (SBP) is poised to make a crucial decision on the benchmark interest rate following the successful conclusion of a loan deal with the International Monetary Fund (IMF).
(more…) -
FBR Elaborates New Withholding Tax Regime for Motor Vehicles
Karachi, July 27, 2023 – The Federal Board of Revenue (FBR) has elaborated new withholding tax regime for motor vehicles, aiming to streamline the taxation process and generate revenue for the government.
(more…) -
Foreign Investment Woes: Profit Repatriation from Pakistan Plunges by 80% in FY23
Karachi, July 27, 2023 – The repatriation of profit and dividends from Pakistan has seen a significant plummet of 80 percent, amounting to $331 million in fiscal year 2022-23, as reported by official data released by the State Bank of Pakistan (SBP).
(more…) -
Pakistan Amends Laws to Tax Virtual Businesses of Foreign Entities
Karachi, July 26, 2023 – In a significant move, Pakistan has revised its tax laws to include virtual businesses operated by foreign entities within the scope of taxation.
(more…) -
FBR Implements Bar on Property Purchases for Section 7E Defaulters
Karachi, July 26, 2023 – In a significant move aimed at ensuring tax compliance, the Federal Board of Revenue (FBR) has announced that individuals defaulting under Section 7E of the Income Tax Ordinance, 2001, will be barred from purchasing immovable properties.
(more…) -
FBR Unveils Updated Tax Rates for Salaried Persons in 2023-24
Islamabad, July 26, 2023 – The Federal Board of Revenue (FBR) has recently updated the tax rates for salaried individuals for the tax year 2023-24.
(more…) -
Government May Amaze Citizens in Last Revision of Petroleum Prices Ahead of Tenure Completion
Islamabad, July 26, 2023 – The Pakistani government is gearing up to announce the last revision of petroleum prices on July 31, 2023, just days before the present legislative assembly completes its tenure on August 12, 2023.
(more…) -
State Bank of Pakistan Issues New Instructions on Import of Cash US Dollars
Karachi, July 26, 2023 – The State Bank of Pakistan (SBP) has recently issued a set of comprehensive instructions regarding the import of cash US dollars through cargo or security companies.
(more…) -
Private Sector Loans Nose-Dive 87% in FY23 Due to High Interest Rates and Slowdown
Karachi, July 25, 2023 – Pakistan’s private sector has been hit hard by the economic slowdown and high interest rates, as bank loans plummeted by a staggering 87 percent in the fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
(more…)