Karachi, August 9, 2023 – Deposits in commercial banks in Pakistan have reached an all-time high of Rs25.70 trillion by the end of July 2023, driven by the country’s highest interest rates.
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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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FBR Launches Transaction Recording for Aggressive Crackdown on Tax Evaders
Karachi, August 9, 2023 – The Federal Board of Revenue (FBR) has taken a significant step in its pursuit of tax evaders by launching an information portal to record all transactions.
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Pakistan Stock Market Sees Significant Drop Ahead of New Caretaker Government
Karachi, August 8, 2023 – The Pakistan stock market experienced a substantial decline on Tuesday, as investors reacted to the upcoming transition to a new caretaker government.
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ECC Extends Subsidized Rates for Essential Items through USC until June Next Year
Islamabad, August 8, 2023 – The Economic Coordination Committee (ECC) of the cabinet has given its nod to the extension of the Prime Minister’s Relief Package for five essential items, ensuring subsidized rates through the Utility Stores Corporation (USC).
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Non-ATL Property Buyers to Face 250% Higher Income Tax in FY 2023-24
Karachi, August 8, 2023 – The non-ATL buyers of immoveable property will face 250 percent higher tax during fiscal year 2023-24, according to the Federal Board of Revenue (FBR).
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Pakistan Assures Full Implementation of One Window Operations for Chinese Investors
Islamabad, August 7, 2023 – Pakistan’s Prime Minister Muhammad Shehbaz Sharif announced the government’s commitment to fully implement one window operations to facilitate Chinese investors in the country, especially those involved in the China Pakistan Economic Corridor (CPEC).
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ATL Broadens to 4.32 Million
Pakistan’s Active Taxpayers List (ATL) has seen a significant increase, reaching 4.32 million, owing to measures that compelled non-compliant individuals and businesses to join the documentation system.
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FBR Chairman Rejects Tax Exemption for Realtors Amid IMF Stand-By Arrangement
Islamabad, August 7, 2023 – In a meeting with representatives from the real estate sector, Malik Amjed Zubair Tiwana, the Chairman of the Federal Board of Revenue (FBR), firmly declined to grant any tax exemption to the realtors.
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Tragic Train Collision in Pakistan Leaves Many Dead and Injured
Islamabad, August 6, 2023 – A tragic accident occurred near Nawabshah in Sindh Province as a passenger train collided, resulting in multiple fatalities and serious injuries.
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FBR Introduces 15% Income Tax on Prepaid Phone Cards
Karachi, August 6, 2023 – In a recent development, the Federal Board of Revenue (FBR) has imposed a 15 percent income tax on the sale price of prepaid phone cards.
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