A delegation from the Pakistan Business Council held discussions with FM Aurangzeb concerning the upcoming fiscal year’s budget. During the meeting, the delegation presented specific tax proposals and commended the government’s ongoing efforts. Aurangzeb assured the delegation that their recommendations were being carefully considered and would be taken into account as much as possible in […]
Policymakers and the elite are seen as neglecting the country’s foundations while enjoying increasing privileges funded by the hard-earned income of the salaried class. It appears that the budget, seemingly prepared without benefiting any industry, is strangling the IT sector. Although the government allocated a budget of Rs79 billion for the IT sector, IT professionals […]
Out of the Rs70 billion, an amount of Rs30 billion will be the impact of increase in property valuations and the remaining Rs40 billion is estimated to be collected through a higher withholding tax on the revised valuations and the new withholding tax rates. The statement about property valuation was made during a meeting of […]
The benchmark KSE-100 reached an all-time high of 78,115 from the previous close of 77,213. The KSE-100 index gained 1409 points around 10.55 am. Analysts attributed the upward trajectory to the government’s willingness to unlock a deal with the International Monetary Fund (IMF) after the budget. Analysts expect the budget for the fiscal year to […]
Speaking at the post-budget press conference, he said that the scheme was previously closed due to some deceiving activities. The chairman added that currently, over Rs. 1 billion is available in the POS account. It is worth mentioning that, the first computerized draw of the POS Prize Scheme was held on Saturday, 15th January 2022 […]
In case of no reply from them, the non-filers mobile phone sims, electricity, and gas will be disconnected,” according to sources. “The process of blocking sims of non-filers will continue in the next financial year, The government has devised a plan to enhance tax collection in the next financial year’s budget being tabled in the […]
The prime suspect, Sheikh Rashid, and his partners are under direct investigation for allegedly embezzling billions of rupees from sugar dealers and traders. NAB DG Lahore has formed a team to conduct immediate investigations, and the inquiry has begun against Sheikh Rashid, Kashif, and Faisal. The NAB spokesperson said that Sheikh Rashid’s four warehouses in […]
Sources close to the development revealed that the government tasked a commission with collecting an estimated Rs 60 billion. This initiative comes as part of the upcoming government budget, which is expected to introduce stringent measures against smuggling and non-duty-paid goods. Sources claimed that the shops found selling smuggled or non-duty-paid cigarettes would be imposed […]
The FBR confirmed that 150,000 SIM cards of non-filers have been blocked, with FBR providing data for 5,000 non-filers daily to the Pakistan Telecommunication Authority (PTA). The spokesperson stated that the non-filers can have their SIM cards restored after submitting their income tax returns. To date, 18,902 SIM cards have been reactivated after the individuals […]
According to sources, FBR has decided to introduce a single sales tax return for all businesses, whereas supply monitoring will be conducted for unregistered businessmen. Sources said that the Track and Trace system will also be implemented in the tiles sector, and the FBR may grant additional powers to the Director General of Digital Invoices. […]
