Despite connectivity challenges, the IT sector achieves 15th consecutive month of growth, with exports up 15% YoY. Record-Breaking IT Exports Amid Challenges Pakistan’s IT sector recorded its highest-ever monthly exports in December 2024, achieving $348 million despite persistent internet disruptions and low connectivity. This marks a 15% year-on-year (YoY) growth and a 12% increase month-on-month, […]
In FY24, Pakistan’s salaried class emerged as the third-largest taxpayer, contributing Rs368 billion—a 39.3% increase from the previous year. Explore the key contributors to the country’s tax revenue, including contracts, bank profits, energy, property, and telecom sectors, alongside insights into the FBR’s revenue performance and challenges
Salaried Class Emerges as Third-Largest Taxpayer in FY24 Read More »
Discover the key differences between invoices and receipts in this detailed guide. Learn their purposes, features, and importance for smooth financial transactions.
Learn why bookkeeping is essential for IT and IT-enabled service businesses and freelancers. It ensures tax compliance, financial stability, and business growth.
Importance of Bookkeeping for IT & ITES Businesses and Freelancers Read More »
The State Bank of Pakistan (SBP) has announced that the final date to redeem prize bonds worth 40,000, 25,000, 15,000, and 7,500 rupees is December 31, 2024. Bondholders must return their bonds at any commercial bank branch or the SBP head office before the deadline to avoid losing the opportunity for redemption
Federal Board of Revenue (FBR) in Pakistan taking action against individuals who have not filed their tax returns despite earning profits from bank deposits. FBR has collected data on 4.9 million non-filers and is now sending notices to those who have earned more than 1.3 million rupees in annual profit from their bank accounts.
FBR has implemented a new Password Expiry Policy: Passwords will now expire every 60 days.
Advance tax and withholding tax are two common methods used by tax authorities to collect income tax. While they share the same goal, they differ significantly in terms of responsibility, timing, and calculation. In this blog post, we’ll delve into the specifics of each method and explore how they impact individuals and businesses
Bookkeeping is the backbone of any small business. Proper financial management ensures your business stays compliant, informed, and positioned for growth. However, many small businesses unknowingly make bookkeeping mistakes that can lead to costly errors, penalties, and even lost opportunities. Here are ten common mistakes and how you can avoid them. 1. Mixing Personal and
Understanding the New FBR Rule The Federal Board of Revenue (FBR) has recently implemented a new rule for overseas Pakistanis. This rule requires individuals holding a Pakistan Origin Card (POC) or National ID Card for Overseas Pakistanis (NICOP) to obtain prior approval from the concerned Commissioner Inland Revenue (CIR) to avail tax benefits on immovable
New FBR Rule for Overseas Pakistanis: A Step-by-Step Guide Read More »
