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BUDGET
Bad News for Salaried & Retired Employees in Upcoming Budget

Bad News for Salaried & Retired Employees in Upcoming Budget

The government has accepted to the condition put by the International Monetary Fund (IMF) to charge income tax on monthly pensions in the upcoming budget, Finance Act 2021 , according to media reports. According to…

MARKETS
Rupee Continues to weaken against dollar

Rupee Continues to weaken against dollar

The rupee continued to weaken against the US dollar at Rs155.78 in the inter-bank market on Tuesday compared with closing at Monday’s at Rs155.3, revealed by the State Bank of Pakistan (SBP). Earlier, the SBP…

BUDGET
Budget in front but Pakistan and IMF will discuss taxes next week

Budget in front but Pakistan and IMF will discuss taxes next week

Pakistan and the International Monetary Fund (IMF) are working to eliminate their differences over new taxation measures. The government’s willing to increase sales tax rate on fertilizer to 10% and charge 17% tax on import…

UPDATES
FBR to reintroduce track and trace system for tobacco products by the end of June 2021

FBR to reintroduce track and trace system for tobacco products by the end of June 2021

The Federal Board of Revenue (FBR) may reintroduce the track and trace system for tobacco products through a modified strategy in late June 2021, when a high court ruled that the previous system was not…

UPDATES
SHC suspends FBR’s Rs25 billion deal for Implementation of Track & Trace system

SHC suspends FBR’s Rs25 billion deal for Implementation of Track & Trace system

Implementation of Trace and Track system introduced by FBR is no doubt very important step of government and FBR. From the start of its development it has become controversial. The contract awarded for implementation of…

BUDGET
FBR Submits Proposed Tax Exemptions Withdrawal Bill in National Assembly secretariat

FBR Submits Proposed Tax Exemptions Withdrawal Bill in National Assembly secretariat

The Federal Board of Revenue (FBR) submitted a bill to the National Assembly (NA) secretariat, consisting of tax amendments to withdraw about 36 tax exemptions. It will be applicable from July 1 2021 under the…

BUDGET
Cabinet approved budget proposals to meet the IMF’s Demands

Cabinet approved budget proposals to meet the IMF’s Demands

The federal cabinet has approved a new budget to impose a tax of Rs 140 billion to meet a condition of the International Monetary Fund (IMF). An increase of 1.4 Trillion rupees through tax exemptions.…

UPDATES
PTI government considering another tax amnesty scheme

PTI government considering another tax amnesty scheme

Amnesty Scheme on foreign currency The PTI government is considering another amnesty scheme. It will be third in two years. On black foreign currency held by Pakistani nationals. Financial Action Task Force (FATF) and the…

FINANCE
IMF reports stagflation in Pakistan

IMF reports stagflation in Pakistan

Pakistan’s economy may grow by 1%, inflation may cross above 10%. Unemployment going to increase by the end of this fiscal year. Facts speculated in the World Economic Outlook (WEO) report that the International Monetary…

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