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Govt raises withholding tax rate for non-filers
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[ad_1] A representational image of taxes. — AFP/File To encourage people to file taxes, the Federal Board of Revenue (FBR) has increased the withholding tax rate for non-activate tax filers or those not on the Active Taxpayers List (ATL). According to a Wednesday circular, non-ATL filers will be taxed Rs303 for a bank withdrawal of Rs50,500.…
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Gold rate rises to Rs226,400 per tola in Pakistan
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[ad_1] A representational image of gold jewellery. — AFP/File Gold prices in Pakistan continued upward trend on Wednesday as per tola price increased by Rs5,400 amid slight increase in international rates. According to data issued by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) gained Rs5,400 per tola and Rs4,630…
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Govt staff PF profit rate upped | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has approved an increase in the rate of profit of the provident fund of its employees. According to the finance ministry, the profit rate of the provident fund has now been increased to 14.22% for the current fiscal year. It pointed out that the profit rate in the financial year…
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Oil falls as rate hike fears offset inventory drop | The Express Tribune
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[ad_1] LONDON: Oil fell on Wednesday, giving up earlier gains, as worries over further interest rate hikes and slowing demand offset support from an industry report showing a larger-than-expected drop in US crude inventories. Benchmark Brent crude prices are down over 15% this year as rising interest rates hit investor appetite, while China’s economic recovery…
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LHC upholds legality of super tax, reduces rate to 4% | The Express Tribune
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[ad_1] LAHORE: In a significant ruling, the Lahore High Court on Tuesday upheld the legality of the super tax that was imposed by the federal government last year, Express News reported. The court’s decision comes in response to several petitions filed against the tax’s enforcement. According to Express News, over 350 petitioners approached the court…
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SBP increases interest rate to record high in emergency huddle
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[ad_1] An undated picture of the State Bank of Pakistan’s building. — AFP/File The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) on Monday raised the policy rate by 100bps to a record high of 22% in an emergency meeting as it expects an increase in inflation due to the raising of taxes and…
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SBP hikes key policy rate by 100 basis points to 22% | The Express Tribune
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[ad_1] KARACHI: Fulfilling another demand of the International Monetary Fund (IMF) to revive its loan programme, Pakistan’s central bank jacked up its key policy rate by 100 basis points to a new record high at 22 per cent in an emergency meeting on Monday. The rate would become effective from Tuesday. The State Bank of…
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SBP maintains interest rate at 21%
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[ad_1] An undated image of the State Bank of Pakistan building in Karachi. — AFP The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) decided against increasing the interest rate as it “views inflation to have peaked at 38% in May 2023, and barring any unforeseen developments, expects it to start falling from June…
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Gold rate falls by over Rs2,000 in Pakistan
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[ad_1] This is a representational image of a person holding gold chains. — AFP/File KARACHI: The rates of gold in Pakistan ended the week on Saturday by losing over Rs2,000 following a decrease in the prices in the international market. The price of gold (24 carats) fell by Rs2,050 per tola and Rs1,758 per 10 grams…
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Pakistan to leave 21% policy rate unchanged: analysts | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s central bank is widely expected to keep its key interest rate unchanged at 21% on Monday after aggressive rate hikes since April last year to tackle record-high inflation amid the nation’s worst-ever economic crisis. The country’s key rate has been raised by a massive 1125 basis points (bps) since April 2022 and…
