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The Federal Board of Revenue (FBR) has announced a significant change to the property capital gains tax regime. As of July 1, 2024, the holding period requirement for capital gains tax on properties has been removed. This means that all profits derived from the disposal of immovable property in Pakistan will be taxed as capital…
The Federal Board of Revenue (FBR) has announced a final deadline of September 30 for submitting income tax returns for the financial year 2023-24. This deadline is crucial for all taxpayers, as failure to meet it will result in legal action and penalties. Individual filers who miss the deadline will face a minimum penalty of…
In a welcome turn of events, the State Bank of Pakistan (SBP) has reported a modest increase of USD 19 million in its liquid foreign exchange reserves, bringing the total to a respectable USD 9.291 billion as of August 16, 2024. This slight uptick is a positive sign, indicating a cautious improvement in Pakistan’s financial…
Karachi, a bustling metropolis, grapples with a complex real estate market that has far-reaching impacts on its social, political, economic, and environmental fabric. The sector’s affordability crisis, fueled by stagnant wages and skyrocketing housing prices, has created a deep chasm between the haves and have-nots. This exacerbates social exclusion, relegating low-income residents to cramped apartments…
Owning a home is a keystone of wealth… both financial affluence and emotional security.