The plea was compelling enough that it not only won the consensus of all senators but also left the Federal Board of Revenue (FBR) representatives without a substantive counterargument. PRBC highlighted a critical flaw in the current tax structure as only 5% of the retail sector was registered and compliant while a staggering 95% remained outside the tax net, contributing nothing to the treasur
While hitting back at politicians for striking compromises with traders and keeping the tax body incapacitated, the Federal Board of Revenue (FBR) said on Friday that it would increase property valuations close to 90% of market prices to collect an additional Rs70 billion in the next fiscal year. Out of the Rs70 billion, an amount of Rs30 billion will be the impact of increase in property valua
In a short week after the Eid holiday, the stock market reached a new peak on optimism that the tax-laden budget 2024-25 has paved the way for securing another bailout package from the International Monetary Fund. Arif Habib Ltd (AHL) said during the two-day trading week, the market sustained its positive momentum, surging from 76,707 points to 78,810 points, closing at an all-time high. Inv
It’s the same story around June every year as the federal budget approaches. First, there’s the hype, with media outlets trying to guess what the grand plan is and inviting experts. True to form, the industry associations double down on their lobbying, repeating their cliched tripes about how the discontinuation of a particular incentive will apparently trigger a bankruptcy domino. On the other
The last of the provinces to announce its budget, Balochistan revealed a Rs956 billion surplus budget last week. The budget may aim to address persistent socio-economic issues while setting the stage for sustainable development in one of the country’s most resource-rich yet neglected areas. However, the challenges it faces are substantially bigger than those of other provinces. Literacy crisis