Taxsol Global

17/04/2025

The federal government has kept the petrol and diesel prices unchanged for second fortnight of April 2025 despite a significant decline in global oil prices.Instead of cutting the petrol prices for consumers, the government has increased the petroleum levy by up to Rs8.02 per litre.
Reports said the government has increased levy on petrol by Rs8.02 to Rs78.02 per litre. Similarly, the levy on high speed diesel has been hiked by Rs7.01 to Rs77.01 per litre.

10/04/2025

April 10,2025

09/04/2025

09/04/2025

07/04/2025

Suffers Second Worst Single-Day Drop!
The Pakistan Stock Exchange (PSX) mirrored the global sell-off on Monday as the benchmark KSE-100 index nosedived to an intraday low of 8,687 points, the largest intraday point-wise drop in history.
However, some stability returned during the later hours as the 100-Index closed at 114,909.49 points, down 3,882.17 points, a negative change of 3.27 percent.

11/05/2024

Govt to tax pensioners!

Despite the state of the economy, the IMF’s demand that the cash-strapped Shehbaz Sharif administration start taxing civil and military pensions exceeding Rs1.2m a year, as well as revoke income tax exemptions for various pension schemes and funds in the next budget, appears unfair.
It is true that the pension tax and withdrawal of existing income tax exemptions for pension funds and schemes is projected to generate additional tax revenues in the range of Rs22bn to Rs25bn per annum, but the move will add to the financial burdens of a class of citizens with few other sources of income. Besides, withdrawing the tax rebate incentive from pension funds will discourage people from saving for their retirement.

Tax reforms have failed to deliver because of distortions created by the FBR bureaucracy through SROs, apparently for personal gains.

25/03/2024

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11/01/2024

Interbank closing exchange rate for today!

08/01/2024

The Federal Board of Revenue (FBR) is all set to block mobile SIM cards and mobile phones of non-filers during the current month.

It is learnt that the FBR is ready to enforce strict measures against non-filers. In the first phase, the mobile SIM cards and mobile phones of non-filers will be blocked. In this regard, the FBR will issue the Income Tax General order by January 15.

02/01/2024

The rupee-dollar exchange rate is expected to come under pressure due to higher debt repayments in the first quarter of calendar year 2024, said bankers and analysts.

“With the completion of the nine-month $3bn Stand-By Arrangement with the IMF in March 2024, the dollar may reverse its downward trajectory due to higher debt servicing and likely fall in foreign exchange reserves amid slow inflows,” said a senior banker.

Bankers and analysts said the country is short of $6bn required to meet the debt servicing obligations totalling $24bn for the entire FY24.

Read more: https://www.dawn.com/news/1801996

Analysts say the country is short of $6bn required to meet the debt servicing obligations totalling $24bn for the entire FY24.

02/01/2024