Islamabad, December 4, 2024 – The Federal Board of Revenue (FBR) announced the formation of multiple procurement committees on Wednesday to facilitate the implementation of its Transformation Plan.
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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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Pakistan and Saudi Arabia Commit to Deepening Economic Ties
Pakistan and Saudi Arabia have reaffirmed their commitment to strengthening economic, trade, and investment ties, aiming for a qualitative transformation in their bilateral relationship. The development came during a “warm and cordial” meeting between Pakistan’s Prime Minister Muhammad Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman on the sidelines of the One Water Summit in Riyadh.
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FBR Mandates Forensic Lab Tests for Vehicle Auctions
The Federal Board of Revenue (FBR) has introduced a significant policy change, requiring the Customs Department to conduct forensic laboratory tests through reputable forensic labs before auctioning confiscated vehicles. This move aims to enhance transparency in the auction process and ensure the sale of non-tampered vehicles to buyers.
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Market Anticipates 200bps Policy Rate Cut: Topline Poll
Karachi, December 3, 2024 – Market participants are gearing up for a substantial monetary policy adjustment, as a poll by Topline Securities Limited suggests a majority expects a 200 basis points (bps) cut in the policy rate during the upcoming Monetary Policy Committee (MPC) meeting, scheduled for December 16, 2024.
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KSE-100 Soars to New High Amid Monetary Policy Optimism
Karachi, December 3, 2024 – The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index reached an unprecedented milestone on Tuesday, closing at 104,559 points, driven by strong investor sentiment surrounding an anticipated rate cut by the State Bank of Pakistan (SBP). This surge represents an impressive gain of 1,284 points from the previous day’s close at 103,275 points.
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FBR Implements New Tax Rates on Sale of Immovable Property
KARACHI, December 3, 2024 – The Federal Board of Revenue (FBR) has announced updated advance tax rates on the sale or transfer of immovable property in Pakistan for the tax year 2025. These changes, outlined under Section 236C of the Income Tax Ordinance, 2001, aim to streamline tax compliance and ensure clarity for property transactions.
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PM Shehbaz Hopes for Further Rate Cuts After Inflation Drops
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday hailed the remarkable decline in inflation to 4.9%—the lowest in six and a half years—expressing optimism that this milestone could lead to further reductions in the key policy rate by the State Bank of Pakistan (SBP). Speaking during a federal cabinet meeting, Shehbaz emphasized the importance of leveraging this development to improve the financial well-being of the general public.
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KSE-100 Hits New High of 103,275 Points Amid Bull-Run
Karachi, December 2, 2024 – The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index surged to an unprecedented high of 103,275 points on Monday, marking a significant milestone in the ongoing bull run.
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FBR Adds 0.3 Million Active Taxpayers to ATL for 2024 in November
Karachi, December 2, 2024 – The Federal Board of Revenue (FBR) has added approximately 0.3 million taxpayers to its Active Taxpayers List (ATL) for the tax year 2024 during November. The updated list now reflects 5.64 million active taxpayers as of December 1, 2024, based on income tax returns filed up to that date.
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Pakistan’s Headline Inflation Drops to 4.9% in November 2024
Karachi, December 2, 2024 – Pakistan’s headline inflation, measured through the Consumer Price Index (CPI), eased significantly to 4.9% year-on-year in November 2024, reflecting improved economic stability.
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