Tag: retailers
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Govt plans to increase gas and electricity prices in January
The interim Finance Minister, Dr Shamshad Akhtar, announced during a press conference that the caretaker government is planning to increase electricity and gas tariffs in January to address the circular debt issue, in line with the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA).
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IMF pressures Pakistan for tax reforms, calls for intensified recovery efforts
The International Monetary Fund (IMF) is urging Pakistan to intensify efforts towards tax recovery.
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Increase in organised retail robberies feared as iPhone 15 hits shelves
As the highly anticipated release of Apple’s iPhone 15 approaches, mobile phone retailers are bracing themselves for a potential surge in organised robberies.
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We’re not shocked: Salaried class pays 200% more tax than exporters, retailers
In the fiscal year 2022-23, Pakistan’s salaried class emerged as the leading contributor to the nation’s income tax, making a substantial contribution of Rs264.3 billion. Astonishingly, this amount was nearly 200 per cent higher than the combined income tax paid by the country’s exporters and largely undertaxed retailers.
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Govt to maintain 18% GST rate in upcoming budget 2023-24
In the forthcoming budget for 2023-24, it is anticipated that the government will maintain the current standard rate of General Sales Tax (GST) at 18 per cent. Additionally, efforts are being made by the government to increase the rates of withholding taxes, where applicable, with the aim of augmenting tax revenues.
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Mobile banking grows by 100% during FY22 in Pakistan
According to the State Bank of Pakistan’s (SBP) Annual Payment Systems Review, the size of the digital payments ecosystem witnessed massive increase over the previous fiscal year. The report reveals that internet banking expanded by 51.7 per cent to 141.7 million users in FY22, while mobile phone banking increased by 100.4 per cent to 387.5…
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New Zealand passes world’s first tobacco law to prevent future generations from smoking
As part of its attempts to become smoke-free by 2025, New Zealand has passed new regulations. The newest legislation prohibits anyone under the age of 14 from ever being able to legally purchase cigarettes.
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Retailers in Lahore continue to overcharge for food items
Lahore residents are forced to pay high prices for basic food items since a number of store owners refuse to sell basic items at the government-recommended price list. Those who complain about price violations are asked to shop elsewhere where the items are offered at legal prices. The price of chicken was recently cut by…