Islamabad, July 7, 2023 – The Federal Board of Revenue (FBR) has recently released the tax rate for construction services rendered within the jurisdiction of Islamabad Capital Territory (ICT).
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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 Drops Against Dollar to PKR 277.90 on Weekend Demand
Karachi, July 7, 2023 – The Pakistani Rupee (PKR) experienced a decline against the dollar on Friday as a result of increased demand ahead of the weekend for import and corporate payments.
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Pakistan to Raise Rs9.9 Trillion for Budget Financing in Next Three Months
Karachi, July 7, 2023 – In a bid to meet its budgetary requirements, Pakistan has announced plans to raise Rs9.9 trillion through the auction of securities over the next three months.
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Pakistan’s Foreign Exchange Reserves Surge to $9.746 Billion
Karachi, July 6, 2023 – Pakistan’s foreign exchange reserves have experienced a notable increase of $405 million within a week, according to data released by the State Bank of Pakistan (SBP) on Thursday.
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Rupee Regains Ground Against Dollar, Closing at PKR 277.04 in Interbank Market
Karachi, July 6, 2023: In a positive turn of events, the Pakistani Rupee (PKR) bounced back against the dollar on Thursday, concluding the interbank foreign exchange market at PKR 277.04.
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Finance Division Notifies Increase in Pension by 17.50%
In a significant development, the Finance Division has issued a notification on Wednesday, July 5, 2023, announcing a substantial increase in the pension of government employees.
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Analysts Predict Increase in Petroleum Prices in Pakistan through Levy, Sales Tax Adjustments
Karachi, July 5, 2023 – Analysts at JS Global on Wednesday suggested that Pakistan might increase petroleum prices by enhancing the petroleum levy and sales tax. Their analysis indicates that the Petroleum Development Levy (PDL) collection has fallen short of the target due to reduced sales of Oil Marketing Companies (OMCs) and the government’s reluctance to raise the PDL charge.
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Dollar Rebounds in Pakistani Currency Market; Gains PKR 1.97
Karachi, July 5, 2023: The US dollar made a strong comeback in the Pakistani currency market on Wednesday, recovering from a significant fall against the Pakistan Rupee (PKR) the previous day. The exchange rate witnessed a PKR 1.97 depreciation in the rupee’s value, closing at PKR 277.41 to the dollar compared to the previous day’s rate of PKR 275.44 in the interbank foreign exchange market.
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LTO Karachi Surpasses FY23 Target, Collects Nearly Rs2 Trillion Amid Economic Challenges
Karachi, July 5, 2023 – The Large Taxpayers Office (LTO) Karachi has exceeded its revenue collection target for the fiscal year 2022-23, amassing approximately Rs2 trillion, according to officials on Wednesday.
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Pakistan Retains Higher Sales Tax Rate at 18% for 2023-24 and Onwards
Islamabad, July 5, 2023 – In a move that may impact the economy and burden the masses, Pakistan has decided to retain the higher rate of general sales tax at 18 percent for the fiscal year starting July 1, 2023, and continuing onwards. The decision was announced by the Federal Board of Revenue (FBR) sources today.
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