The Federal Board of Revenue (FBR) has outlined a bold plan to address Pakistan’s significant revenue shortfall, ahead of an upcoming visit by an International Monetary Fund (IMF) delegation. This development comes at a time when Pakistan is struggling to meet critical financial commitments to secure International Monetary Fund support and stabilize its fragile economy. … Read more
“Her Story,” a Maxtime Pictures comedy-drama with a largely female perspective, topped the box office in mainland China for the fourth straight week. The box office remained sluggish despite a few new releases, with Hollywood’s “Moana 2” falling out of the top five and Sony’s “Kraven the Hunter” making a modest debut. “Her Story” fell … Read more
The Appellate Tribunal of Inland Revenue (ATIR) in Islamabad has ruled that commissioners are no longer eligible to file appeals under the amended Section 131 of the Income Tax Act, 2001. The court clarified that the term “commissioner” does not fall under the definition of “person”. “As defined in Article 2 (42), read with Article … Read more
The government announced the retirement of 1.9 trillion rupees of debt, supported by record high revenues from the Petroleum Development Levy (PDL) and big profits from the State Bank of Pakistan (SBP), driven by high interest rates and low inflation. . According to the Ministry of Finance’s monthly economic update and outlook (November 2024), the … Read more
A worker delivers packages of fabric to a market in Karachi. – Reuters/File Authorities say the International Monetary Fund will send its team to Pakistan in December. The FBR may propose to raise withholding tax rates on all imports. Raising the withholding tax on the sale of land plots and also purchases with cards. ISLAMABAD: … Read more