In a recent development, beauty parlors and beauty clinics operating within the jurisdiction of Islamabad Capital Territory (ICT) are now obligated to pay a 15 percent sales tax on services, as per updated laws issued by the Federal Board of Revenue (FBR).
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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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Tax Return Filing for Year 2023 Begins in Pakistan
Islamabad, July 8, 2023 – The filing of annual income tax returns and statements of assets for the tax year 2023 has officially commenced in Pakistan, according to official sources from the Federal Board of Revenue (FBR). The FBR opened its return filing portal, known as IRIS, on July 1, 2023, covering the period from July 1, 2022, to June 30, 2023.
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FBR Apparently Achieves Rs7.2 Trillion Collection Target for FY23
Islamabad, July 8, 2023 – The Federal Board of Revenue (FBR) has reportedly achieved its revenue collection target of Rs7.2 trillion for the fiscal year 2022-23, according to sources.
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Pakistan’s Middle Class Bears Brunt of Inflation as Kitchen Item Prices Soar
Islamabad, July 7, 2023 – Pakistan’s middle class is grappling with the impact of rising inflation, particularly the surge in prices of essential kitchen items, according to official data released by the Pakistan Bureau of Statistics (PBS) on Friday.
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Tax Rate on Construction Services in Islamabad Set at 15 Percent
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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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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