The Federal Board of Revenue (FBR) has embarked on a significant administrative restructuring, unveiling a comprehensive reshuffle involving 74 senior officers within the Inland Revenue Service (IRS).
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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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SBP Enhances Minimum Paid-Up Capital Requirement for Exchange Companies to PKR 500 Million
Karachi, September 6, 2023 – In a significant move aimed at fortifying the financial stability of exchange companies in Pakistan, the State Bank of Pakistan (SBP) announced on Wednesday that it would be raising the minimum paid-up capital requirement for these entities from PKR 200 million to PKR 500 million.
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Pakistan Extends Redemption Deadline for Unregistered Prize Bonds
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National Bank of Pakistan Reports Increase in Tax Contingencies to Rs 29.26 Billion
Karachi, September 6, 2023 – The National Bank of Pakistan (NBP) has disclosed that its total tax contingencies have risen to Rs 29.26 billion, according to official documents released recently.
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Public Debt Soars to Rs 61.75 Trillion in July 2023: State Bank of Pakistan
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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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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