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FBR Highlights Disparities in Tax Compliance for FY 2023-24

06-Jan-2025
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 sale...
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FBR Highlights Disparities in Tax Compliance for FY 2023-24

Deadline Extended for Vehicle Dues: A Relief for Owners

06-Jan-2025
In an effort to support vehicle owners and provide them with greater flexibility, authorities have decided to extend the deadline for clearing outstanding dues, according to a recent press release. Th...
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Deadline Extended for Vehicle Dues: A Relief for Owners

Government Orders Shutdown of INGOs, Sindh Plans School Transfers

04-Jan-2025
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 un...
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Government Orders Shutdown of INGOs, Sindh Plans School Transfers

PSX Maintains Bullish Momentum Amid Optimistic Market Sentiment

04-Jan-2025
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...
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PSX Maintains Bullish Momentum Amid Optimistic Market Sentiment

Unemployment Crisis Deepens in Pakistan: Urgent Reforms Needed

04-Jan-2025
Pakistan’s unemployment rate has risen sharply to 7% from 1.5% over the past decade, according to a Ministry of Planning report.The report attributes this surge to insufficient GDP growth, which has f...
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Unemployment Crisis Deepens in Pakistan: Urgent Reforms Needed

Government Imposes New Levy on Captive Gas Units to Promote Grid-Based Energy

04-Jan-2025
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.The dec...
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Government Imposes New Levy on Captive Gas Units to Promote Grid-Based Energy

SRB Achieves 23% Growth in Revenue Collection for H1 FY 2024-25

03-Jan-2025
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 ye...
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SRB Achieves 23% Growth in Revenue Collection for H1 FY 2024-25

Mandatory ADR for SOEs After Tax Laws Amendment 202

03-Jan-2025
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 (...
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Mandatory ADR for SOEs After Tax Laws Amendment 202

Cement Industry Sees Mixed Trends in December 2024

03-Jan-2025
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 Dec...
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Cement Industry Sees Mixed Trends in December 2024

ATIR Ruling Favors Taxpayers on Delayed Appeals

03-Jan-2025
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 t...
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ATIR Ruling Favors Taxpayers on Delayed Appeals
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