June 23, 2021
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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…
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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…
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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…
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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…
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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…
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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…
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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.…
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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…
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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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