In a significant development, the Federal Board of Revenue (FBR) has introduced an amendment through the Finance Bill, 2023, indicating that it may not scrutinize foreign inflows up to $100,000 in a year.
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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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Pakistan Unveils Rs14.46 Trillion Budget for FY 2023-24, Focusing on Relief and Growth
Islamabad, June 9, 2023 – Minister for Finance and Revenue, Muhammad Ishaq Dar, presented the highly anticipated Federal Budget for the fiscal year 2023-24 in the National Assembly on Friday. The budget, with a total outlay of Rs14.46 trillion, aims to provide relief to the nation while setting a realistic target of 3.5% real GDP growth despite the existing economic challenges.
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Finance Bill 2023 Unveils Comprehensive Amendments to Income Tax Ordinance
Islamabad, June 9, 2023: The Pakistan Budget 2023-24, presented on Friday, has brought forth several amendments to the Income Tax Ordinance, 2001 through the Finance Bill 2023.
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Pakistan Budget 2023-24 At A Glance
Islamabad, June 9, 2023: Finance Minister Ishaq Dar on Friday presented Pakistan Budget 2022-23 on the floor of the house.
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Finance Bill 2023 – Income Tax Salient Features
Following are the salient features introduced to Income Tax Ordinance, 2001 through Finance Bill, 2023, according to Pakistan Budget 2023-24 revealed on Friday.
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Pakistan Targets 3.5% GDP Growth for Fiscal Year 2023-24
Islamabad, June 9, 2023: The Pakistani government has set a target of 3.5 percent GDP growth for the fiscal year 2023-24, according to sources at the Ministry of Planning, Development, and Special Initiatives.
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Pakistan Grants Rs2.24 Trillion as Tax Exemption and Concessions During FY23
Islamabad, June 8, 2023 – Pakistan has witnessed a significant increase in the cost of tax exemptions and concessions, reaching a staggering amount of Rs2.24 trillion, according to the estimates presented in the Pakistan Economic Survey 2022-23, released on Thursday. This figure represents a sharp rise of over 51 percent compared to the previous fiscal year.
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Pakistan Economic Survey 2022-23: Only 0.29% GDP Growth Achieved
Islamabad, June 8, 2023: According to Finance Minister Ishaq Dar, Pakistan’s Gross Domestic Product (GDP) achieved a meager growth of only 0.29 percent during the fiscal year 2022-2023. This announcement was made during the unveiling of the Pakistan Economic Survey 2022-23 at a press conference.
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Massive Tax Evasion Unveiled: Rs956 Billion Lost in Five Key Sectors of Pakistan
Islamabad, June 7, 2023: An international research body, Ipsos, has uncovered a staggering amount of Rs956 billion annual in tax evasion within five key sectors of Pakistan. The report shed light on tax evasion occurring in the real estate, tea, cigarette, tires and oil lubricants, and pharmaceutical industries.
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Pakistani Rupee Extends Losses for Fourth Consecutive Session Against US Dollar
Karachi, June 7, 2023: The Pakistani Rupee (PKR) has experienced a fourth consecutive session of losses against the US dollar, closing at PKR 286.88 in the interbank foreign exchange market on Wednesday.
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