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October 24, 2022: National / International Current Affairs
1. Dar refuses tax waiver on IT exports
• The government has dismissed an IT industry`s demand for waiving a `negligible` tax on its services to support the sector`s faltering exports but agreed to provide maximum facilitation, including exemption from audit by the tax authorities.
• Presiding over a meeting of the IT sector on October 23, 2022, Finance Minister Ishaq Dar observed that the effective tax rate on the sector was about 0.25 per cent, which was `peanuts`. He said people should develop the habit of paying taxes on their incomes instead of seeking exemptions. A tax of Rs2.5 on exports of Rs1,000 is `nothing`, Mr Dar said.
• He, however, promised that IT professionals exporting their services would not be sent tax notices by the Federal Board of Revenue (FBR) and their tax returns would not be subjected to audit to minimise their revenue cost
2. AJK celebrates 75th liberation day today
• The 75thanniversary of the foundation of a free government in the erstwhile princely state of Jammu and Kashmir would be observed on October 24, 2022 with traditional fervour.
• On October 24, 1947, the free government was installed in this territory, commonly known as Azad Jammu and Kashmir (AJK), after its liberation by the locals from the yoke of Dogra rule, and Sardar Mohammad Ibrahim Khan (late) was appointed its founding president.
• As usual, the day will dawn with 21-gun salute in state capital Muzaffarabad and its main event would be held in the High Court ground in Chattar neighbourhood
3. PM heads to `Davos in the desert to secure investment options
• Prime Minister Shehbaz Sharif would travel to Saudi Arabia on October 23, 2022 on a two day visit to participate in the investment conference dubbed as `Davos in the desert`.
• PM Sharif is one of the key speakers at the Future Investment Initiative conference, an official said, adding that the prime minister would use the occasion to highlight investment opportunities in Pakistan.
• The conference`s theme is `Investing in Humanity: Enabling a New Global Order`.
• The event being held in Riyadh has been an annual feature since 2017
4. Xi re-elected as China`s leader, fills top body with protégés
• Xi Jinping secured a historic third term as China`s leader on October 22, 2022 and filled his inner circle with close allies, achieving after a decade in power complete dominance over the ruling Communist Party.
• The party`s Central Committee elected Xi as its general secretary for another five-year term, bringing the country back towards one-man rule after decades of power-sharing among its elite.
• `I wish to thank the whole party sincerely for the trust you have placed in us,` Xi told journalists at Beijing`s Great Hall of the People after the closed-door vote was announced.
• Xi, 69, was also reappointed head of China`s Central Military Commission, keeping him in charge of the People`s Liberation Army
5. Iran`s atomic energy server hacked in `support for protests`
• Iran`s atomic energy organisation said that an e-mail server belonging to one of its subsidiaries had been hacked from a foreign country and information published online, state media reported on October 23, 2022.
• An Iranian hacking group, Black Reward, said in a statement published on Twitter that it had released hacked information relating to Iranian nuclear activities, declaring the action an act of support for protesters in Iran.
• The Islamic republic has been gripped by demonstrations triggered by the death of the 22-year-old Amini on Sept 16after her arrest for allegedly violating the country`s strict dress code for women.
• Their statement, published on Saturday, ended with the words `In the name of Mahsa Amini and for women, life, freedom` a show of support for protests ignited by her death in the custody of morality police last month