The Federal Board of Revenue (FBR) has expressed concern over significant disparities in tax compliance during the fiscal year 2023-24, particularly noting a stark contrast between income tax and sales tax filers.

The federal government has ordered two international non-governmental organizations (INGOs), “Vital Strategies” and the US-based “Campaign for Tobacco-Free Kids,” to cease operations due to alleged unregulated activities.

The Pakistan Stock Exchange (PSX) is poised to maintain its upward trend, as falling fixed income yields are expected to prompt a shift of funds from fixed income to equities, according to a report by AKD Securities.

Pakistan’s unemployment rate has risen sharply to 7% from 1.5% over the past decade, according to a Ministry of Planning report.

The government has announced an initial 5% levy on the base price of Rs4,500 per MMBtu for captive gas units, with incremental hikes up to 20%, according to sources cited by Mettis Global News.

Revenue collection maintained an upward trend in the first half of fiscal year 2024-25, with total collections rising to Rs133.14 billion compared to Rs108.59 billion in the same period last fiscal year, reflecting an impressive 23% growth.

State-Owned Enterprises (SOEs) are seeking exemptions from income tax, despite an amendment to Section 134A of the Income Tax Ordinance, which mandates SOEs to use the Alternative Dispute Resolution (ADR) process to validate their exemptions.

According to data released by the All Pakistan Cement Manufacturers Association (APCMA), local cement despatches in December 2024 stood at 3.370 million tons, down 4.76% from 3.539 million tons in December 2023.

The Appellate Tribunal Inland Revenue (ATIR) has ruled that prolonged inaction and silence by Federal Board of Revenue (FBR) officials in recovering confirmed tax demands justify condoning delays in taxpayers appeals