Islamabad, Oct 11: FBR Increases Property Rates by Up to 75% Across Pakistan The Federal Board of Revenue (FBR) will increase the immovable property values by up to 75% of their current market values. The Law and Justice Division had received the notifications from FBR for review. On Friday, or today, the FBR is anticipated to release the improved values of the immovable properties. The Federal Board of Revenue (FBR) has been granted until October 11, 2024, by the Federal Tax Ombudsman (FTO) to revise the values of all immovable assets in the nation. The FBR has completed its updated…
Author: Mawadat Fatima
Islamabad, Oct 11: Secure Logistics and Trax Online Merge for Market Growth The Board of directors of Secure Logistic Group Limited (PSX: SLGL) and Trax Online Private Limited acknowledge to shareholding proportion at PSX.symbol “SLGL” For issuance of 1,669,825 ordinary shares for cash settlement of Convertible Note. SLGL AND TRAX ANNOUNCE MERGER TO CREATE MULTIFACETED GLOBAL SECURITY SOLUTIONS Dallas, TX and Santa Ana, CA – July 31, 2018 – SUPPORTLINK GLOBAL L.L.C. (SLGL) and Tactical Robotic Systems Inc. It is currently expected that the proposed Amalgamation/merger of TRAX into SLGL or any wholly owned subsidiary of SLGL by way of…
Islamabad, Oct 11: Govt to Tax Agriculture Income by July 2025, Promises IMF Compliance The provinces will begin collecting Agriculture Income Tax (AIT) by July 2025, the government has promised the International Monetary Fund (IMF). This will be achieved by increasing the federal excise duty (FED) on fertilizer by five percent and the FED rate on pesticides by five percent in the upcoming fiscal budget (2025–2026). The four provinces have agreed to modify their agriculture income tax (AIT) regimes in order to fully align them with the federal personal income (small farmers) and corporate income (commercial agriculture) tax regimes by…
After the England Test series, Shan Masood, the captain of Pakistan’s Test team, may be removed. The Pakistan Cricket Board (PCB) may be considering a leadership change after the team’s crushing defeat to England in the opening Test match in Multan, according to sources. For all the wrong reasons, the first Test against England was a historic encounter. Pakistan had a fantastic start, scoring a whopping 556 in the first innings, but they were shockingly defeated. Pakistan lost by an innings and 47 runs as England’s second innings collapsed to just 220 runs in response to England’s commanding 823 for…
Islamabad, Oct 11: The national selection committee of the Pakistan Cricket Board (PCB) has undergone alterations. Former captain Azhar Ali and recently retired umpire Aleem Dar are anticipated to join the group. The selection process was restructured in response to Muhammad Yousuf’s resignation from the committee two weeks ago, which led to this development. The PCB is reportedly completing the new composition of the selection committee, and an official announcement is expected shortly, according to insiders. Former fast bowler Aqib Javed and former captain Azhar Ali, who both bring a wealth of knowledge and insight to the table, are expected…
Islamabad, Oct 11: Pakistan Breaks Unwanted Record in Test Cricket Pakistan was the first team in the history of Test cricket to lose a match by an innings after amassing more than 500 runs in their opening innings, an extraordinary and historic result. In the first Test match of the three-match series, England secured a 1-0 lead over Pakistan with a resounding defeat. Jack Leach, an England spinner, was instrumental in the match’s outcome, taking four wickets for thirty runs before the end of Friday. Pakistan could only bat for 96 minutes before being bowled for 220, having begun their…
Islamabad, Oct 11: Karachi Introduces Digital Domicile System Karachi has introduced a digital domicile system, which drastically cuts down on the time and effort needed for individuals to receive their domiciles. This is a game-changing move to improve accessibility. After years of drawn-out procedures and corruption, people can now protect their homes for a small cost of Rs 660 in as little as two days. Commissioner Karachi Syed Hassan Naqvi announced intentions to further streamline the application process by implementing door-to-door delivery of domiciles throughout all districts during the opening of the Digital Domicile Desk at the Korangi Deputy Commissioner…
Islamabad, Oct 11: CDC’s Investor Weekend 2024 Set to Enhance Investor Education The Central Depository Company (CDC), in association with prominent AMCs and brokerage houses in Pakistan, has arranged a three-day event called “Investor Weekend 2024” at Dolmen Mall Clifton, Karachi, from October 11 to 13, 2024, with the approval and direction of the Securities and Exchange Commission of Pakistan. In honor of World Investor Week 2024, which is a worldwide campaign by the International Organization of Securities Commissions (IOSCO) to promote investor safety and education, CDC has particularly planned this event. Mujtaba Ahmad Lodhi, Commissioner SECP, Farrukh H. Sabzwari,…
Islamabad, Oct 11: OMC Margins to Increase Soon, Says OGRA Oil and gas regulatory bodies (OGRAs) have suggested raising oil marketing companies’ (OMCs’) and petroleum dealers’ profit margins. OGRA suggested increasing the margin on high-speed diesel (HSD) and MS petrol for OMCs from Rs. 7.87 per litre to Rs. 9.88 per litre in a letter to the Petroleum Division. The Authority has requested that the margin for petroleum dealers be increased from Rs. 8.64 to Rs. 10.01 per litre for both HSD and MS. According to OGRA, the proposed OMC Margins increase comprises an extra 0.5 rupees per litre for OMCs and…
Islamabad, Oct 11: FBR Registers FIR Against Major Cement Company for Alleged Rs700 Million Tax Fraud A renowned cement company is the target of a formal FBR Registers FIR filed by the Federal Board of Revenue’s (FBR) Directorate of Internal Audit, Inland Revenue, Karachi, about claims of tax evasion of Rs. 316 million. As per the said document the directorate of the Internal audit team had visited the offices of M/s Al Junaid Impex in various areas of Karachi, but it was astonishing that the team came to know that offices of said company are not available there. It is…
