Pakistan exports surged by 12.57% during the first five months of the fiscal year 2024-25 (July to November), reaching $13.69 billion, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. This marks a notable increase compared to $12.16 billion recorded in the Read More...
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 Read More...
The Federal Board of Revenue (FBR) has announced an extension of tax exemptions for overseas Pakistanis involved in property transactions, reaffirming its commitment to facilitating expatriates.
To streamline the process, the FBR has directed tax offices to ensure smooth implementation of Read More...
Pakistan and the World Bank held discussions on Tuesday to develop a robust and transparent tax policy framework aimed at boosting revenue mobilization, improving compliance, and ensuring equitable taxation.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Read More...
The Federal Board of Revenue (FBR) has reiterated its policy of collecting advance income tax from telephone and internet users under Section 236 of the Income Tax Ordinance, 2001.
The FBR stated that the tax rates outlined in the Income Tax General Order (ITGO) apply to individuals not Read More...
The Pakistan Carpet Manufacturers and Exporters Association (PCMEA) has called for immediate relief from customs duties that are severely hampering the survival and growth of the carpet manufacturing Read More...
The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to remove the Minimum Retail Price (MRP) regulation from the tax valuation of tea. In a statement issued on Monday, KCCI President Muhammad Jawed Bilwani expressed strong opposition to the recent decision by the Read More...
The Appellate Tribunal Inland Revenue (ATIR) Islamabad dismissed an appeal filed by the Federal Board of Revenue (FBR) against M/s. Supernet Limited. The tribunal ruled the appeal non-maintainable under the amended provisions of the Income Tax Ordinance, 2001, introduced through the Tax Laws Read More...
Foreign investors operating in Pakistan repatriated over $807 million under the head of profit and dividends during the first four months (July–October) of the fiscal year 2024-25, according to official data released on Read More...
Pakistan’s net foreign exchange (forex) reserves have risen by $108 million for the week ending November 22, 2024, according to the State Bank of Pakistan (SBP) report released on Thursday.
The country’s total net forex reserves stood at $16.076 billion by the end of the week, marking an Read More...
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