The federal government has announced the abolition of the Capital Value Tax (CVT) on financial assets as part of its broader strategy to simplify the tax system, encourage documentation, and provide relief to investors and taxpayers. The decision was unveiled during the FY2026-27 budget presentation, with officials stating that the removal of the tax is…
The Karachi Metropolitan Corporation (KMC) is considering the introduction of a new entertainment tax targeting a wide range of hospitality and event-related businesses, including Airbnb properties, hotels, restaurants, guest houses, marriage halls, marquees, wedding lawns, and banquet facilities. According to officials, the proposed tax would be levied at a rate of one percent of the…
Inflation in Pakistan has been on the rise in recent months, and in December 2021, it reached a high of 24.5%. This marks a significant increase from the previous month, when inflation was at 22.5%, and is the highest rate of inflation the country has seen in over a decade. There are a number of…