Islamabad, Sep 13: FBR to Freeze Accounts Over Incorrect Tax Returns. In addition, the FBR has suggested outlawing the purchase of automobiles and real estate, cutting off utilities, and severely penalizing taxpayers who submit inaccurate or deficient tax forms. The goal of Member Inland Revenue (Operations)’s proposed policy adjustments is to reduce tax non-compliance, especially from individuals who file false or incomplete tax returns. These policies would encompass both sales tax and income tax, and they would be applicable to all parties, including Tier-1 merchants and manufacturers. Disconnection of utilities of all those filing incorrect or incomplete returns. Freezing bank…
Author: Mawadat Fatima
Islamabad, Sep 13: KIBOR rates decline further by 25-119 basis points (bps) across all tenors on Friday following the central bank’s move to cut the key interest rate by 200 bps a day earlier. On a daily (DoD) basis, the 6-Month Karachi Inter-Bank Offered Rate (KIBOR) decreased by 57 basis points. The State Bank of Pakistan (SBP) reports that following the mid-week monetary policy statement that reduced the loan rate to 17.5 percent, the 6-month KIBOR came in at 17.1 percent. The other popular 3-Month KIBOR was recorded at 17.34 percent, down 48 bps. To 16.94 percent, the 1-year KIBOR…
Islamabad, Sep 13: The Galaxy S25 Ultra is expected to launch next year in January. Everyone is eager to see how they will respond to it. Along with its twin brothers, the Samsung Galaxy S25 and Galaxy S25+, the rumors and leaks about the Galaxy S25 Ultra have already begun to circulate. Samsung Galaxy S25 Ultra key specifications Samsung’s Galaxy S25 Ultra is lighter and more elegant with a redesigned flat-sided design and a somewhat larger 6.9-inch screen than prior generations. Depending on the location, it can operate on either the Exynos 2500 or the Snapdragon 8 Gen 4 processor.…
Islamabad, Sep 13; The Social Security Administration has officially announced that the 2025 Social Security COLA increase will be set at 2.5%, offering some relief to retirees and beneficiaries. The 2025 Social Security COLA increase at 2.5% marks a modest uptick compared to previous years, where higher inflation drove larger adjustments. Cost-of-living adjustments, or COLAs, are available to recipients of Social Security benefits each year. The goal of COLAs is to allow Social Security recipients who are elderly to keep their purchasing power as long as inflation keeps raising living expenses. In essence, COLA is a percentage increase applied to…
Islamabad, Sep 13: The Trump-Harris debate attracted over 67 million TV viewers, marking one of the most-watched political events in recent history. The US presidential debate between Democratic Vice President Kamala Harris and Republican candidate Donald Trump attracted 67.1 million television viewers, according to Nielsen data released on Wednesday. Tuesday night’s event was the first time the candidates in the November 5 presidential election had met face to face. The viewing figure tops the roughly 51 million people who watched Trump debate then-candidate President Joe Biden in June. It does not capture the full extent of online viewing, which has grown…
Islamabad, Sep 13: Germany Border Controls Immigration announced plans this week to extend controls to all its land borders and turn away more asylum seekers in a bid to reduce irregular migration in a shift from its previous open-door policy. Germany lies at the heart of Europe, with land borders to nine countries. The plans mark a setback to free movement within the European Union, a pillar of the European project, and could strain regional unity. Germany Border Controls Immigration announced on Monday it would extend temporary controls to all its land borders. Beginning on September 16 and lasting for the…
Islamabad, Sep 13: The highly anticipated Champions Cup Pakistan 2024 Live is just around the corner, and fans are eagerly awaiting the exciting matches that will unfold. Starting on September 12 and ending on September 29, the competition will take place. With the countdown officially underway, cricket enthusiasts can look forward to non-stop coverage of the Champions Cup Pakistan 2024 Live, including live updates, expert commentary, and exclusive insights Fans can watch the Pakistan Champions Cup 2024 on the Tamasha Web application and website. Pakistan Champions Cup 2024- Squads Shaheen Shah Afridi (captain), Abdullah Shafique, Aamir Jamal, Aamer Yamin, Faisal Akram, Hassan…
Islamabad, Sep 13: The Board of Intermediate and Secondary Education (BISE) Mardan today released important updates regarding upcoming exams and results. According to BISE Mardan, students can now access their examination schedules for the 2024 academic year. The board has made the timetable available on its official website, ensuring transparency and timely communication with students. It was also announced that the results for the recent matriculation and intermediate exams will be released next week, with an online platform for students to check their scores. The BISE Mardan announces results and reported a significant increase in the overall pass percentage this…
Islamabad, Sep 12: The Competition Commission of Pakistan (CCP) has granted approval for the merger between M/s. DWP Engineering Industries (Private) Limited and M/s. Digital World Pakistan (Private) Limited, as per the Scheme of Arrangement. The CCP conducted a Phase I competition assessment, reviewing the business activities of both entities. DWP Engineering Industries is a private limited company incorporated in Pakistan, specializing in the manufacturing and sale of various interrelated consumer electronics and home appliances. Similarly, Digital World Pakistan is a private limited company engaged in the same line of business. The CCP’s assessment identified the relevant product market as…
Islamabad, Sep 12: The State Bank of Pakistan (SBP) announced on Thursday that it has decreased the interest rate by 200 basis points to 17.5 percent, effective September 13, 2024. SBP announced the declaration during a meeting of the bank’s Monetary Policy Committee (MPC) through an official press release. This choice goes above and beyond what the market anticipated. This time, as in earlier monetary policy statements, inflation was a major factor in lessening the financial strain of the benchmark lending rate. The policy rate has decreased for the second time in the current fiscal year and for the third…