Karachi, November 23, 2024 – Bank deposits held by salaried persons reached an unprecedented Rs 4.47 trillion at the end of October 2024, reflecting a significant 25% year-on-year increase from Rs 3.58 trillion in October 2023, according to data from the State Bank of Pakistan (SBP).
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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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PSX Anticipates 100K Milestone Celebration Next Week
Karachi, November 23, 2024 – The investors of Pakistan Stock Exchange (PSX) anticipate that the benchmark KSE-100 index likely to cross 100K points next week due to improved economic indicators.
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False Tax Statements Could Lead to Two Years in Jail: FBR
Karachi, November 22, 2024 – The Federal Board of Revenue (FBR) has issued a strong warning that making false statements in tax filings could lead to severe legal consequences, including up to two years in prison. This reminder is based on the provisions of the Income Tax Ordinance, 2001, specifically Section 195.
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SBP Revises Shariah Governance Framework for Islamic Banks
Karachi, November 22, 2024 – The State Bank of Pakistan (SBP) has revised the Shariah Governance Framework for Islamic Banking Institutions to align it with international best practices.
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DFML Defaults Over Rs 1 Billion in Repayments: Auditor’s Report
Karachi, November 22, 2024 – An independent auditor’s report prepared by Feroz Sharif Tariq & Co. has revealed that Dewan Farooque Motors Limited (DFML) has defaulted on the repayment of long-term loans from financial institutions amounting to Rs 1.097 billion. Additionally, short-term financing facilities totaling Rs 4.096 billion have expired and have not been renewed by banks.
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KSE-100 Index Heading Towards Psychological 100K Points
Karachi, November 22, 2024 – The benchmark KSE-100 index is heading towards the psychological 100,000 points level, reaching a record high of 98,430 points during intraday trading on Friday.
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FBR Deploys Monitoring Staff at Punjab and Sindh Sugar Mills
Karachi, November 22, 2024 – The Federal Board of Revenue (FBR) on Thursday deployed tax officials at sugar mills located in the Sindh and Punjab provinces to detect tax evasion.
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FBR Issues SOP for Penalizing Non-ATL Persons
Karachi, November 21, 2024 – The Federal Board of Revenue (FBR) on Thursday issued a Standard Operating Procedure (SOP) for penalizing persons not appearing on the Active Taxpayers List (ATL). The FBR issued the SOP on the directives of the Federal Tax Ombudsman (FTO) to streamline the process of penalizing non-ATL persons by publishing their names in the Income Tax General Order (ITGO).
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Army Chief Boosts Market, KSE-100 Reaches Historic Peak
Karachi, November 21, 2024 – The KSE-100 index of the Pakistan Stock Exchange (PSX) soared to an all-time high of 97,328 points on Thursday, reflecting a wave of optimism following the Army Chief’s meeting with leading business figures.
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FBR Targets High-Net-Worth Non-Filers for Tax Enforcement
The Federal Board of Revenue (FBR), acting on Prime Minister Shehbaz Sharif’s directive, has unveiled a stringent enforcement plan to target affluent individuals evading taxes. The initiative focuses on unregistered persons, non-filers, and individuals declaring nil income, especially those concealing income or significant assets.
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