Karachi associations praise fixed tax regime for businesses with annual turnover up to Rs200m Research conducted by Australia’s tax authorities revealed that the first communication a new taxpayer receives affects their long-run compliance behaviour. photo: file KARACHI: The federal government’s introduction of a 1% turnover tax and a fixed tax scheme for traders with annual…
KARACHI: Pakistan Stock Exchange (PSX) witnessed a range-bound session throughout the final day of the trading week on Friday, with the benchmark index fluctuating within a narrow band before closing in the red. The cautious activity came amid limited progress in US-Iran peace negotiations and persistent regional tensions, including clashes in Lebanon despite a ceasefire….
International bullion drops 2.4% as markets price in 68% chance of Fed rate hike by December KARACHI: Gold prices in Pakistan declined on Friday, tracking a sharp fall in the international market where bullion lost more than 2% after stronger-than-expected US employment data reinforced expectations that the Federal Reserve may keep interest rates elevated for…
Prince Mansour assured minister of full cooperation, expressed great optimism regarding outcomes of his visit ISLAMABAD: Saudi Pakistan Joint Business Council Chairman Prince Mansour bin Muhammad Al Saud has expressed strong interest in investing in Pakistan’s motorway projects during a meeting with Federal Minister for Communications Abdul Aleem Khan, according to a statement issued on…
Okays Rs10.2b for submarines, Rs693m for peace talks, clears Rs100b loan guarantee ISLAMABAD: The government on Friday approved over Rs10 billion in additional budget for the development of submarines and also sanctioned nearly Rs700 million as a supplementary grant to cover expenses for holding the first round of US-Iran peace talks. The Economic Coordination Committee…
There is a number sitting in Pakistan's economic data that does not get enough attention. Pakistani freelancers earned over $557 million in foreign exchange in just the first half of fiscal year 2025-26, a 58% jump from the same period a year prior. Behind that number are millions of young Pakistanis who taught themselves valuable…
ISLAMABAD: The federal government has set the Rs290 to a dollar exchange rate for the new budget, which shows a nominal depreciation of 3.5% in the next fiscal year and indicates its comfort in meeting external debt repayment obligations. The exchange rate has been determined for the purpose of calculating disbursements and repayments of foreign…
ISLAMABAD: With increasing trade and business activities at Gwadar, Pakistan has again pushed Saudi Arabia to set up an oil refinery worth $10 billion in the port city. Activity at Gwadar Port has jumped up to 30% in recent months in the backdrop of US-Israel-Iran war as more and more ships arrive at Pakistani ports…
Small businesses with annual turnover of up to Rs200m to be brought into formal tax net under new initiative Finance Minister Muhammad Aurangzeb and Minister of State for Finance Bilal Azhar Kayani address a news conference in Islamabad on June 5,2026. Screengrab ISLAMABAD: The government on Friday announced a “small trader scheme” under which small…
KARACHI: The Pakistan business community says the International Monetary Fund (IMF) programme is no excuse to squeeze businesses and the public through the budget, arguing that the success of the upcoming fiscal plan will depend on the government’s ability to raise revenue from under-taxed sectors rather than placing the bulk of the burden on the…