Pakistan Revenue
The Federal Board of Revenue (FBR) in Pakistan faced a setback in May 2023 as it failed to meet the tax collection target by Rs49 billion. Despite achieving growth in certain areas, a combination of reduced imports, a sluggish economy, and revised GDP growth rates posed challenges for the FBR.
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Pakistan witnessed a significant surge in headline inflation as the Consumer Price Index (CPI) reached an unprecedented all-time high of 38% in May 2023.
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Pakistan has announced a significant reduction in petroleum prices for the first half of June 2023. The decision was made by Finance Minister Muhammad Ishaq Dar and will come into effect on June 1 and remain in place until June 15.
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The Reform and Revenue Mobilization Commission (RRMC) in Pakistan has recently conducted an assessment and determined that the post of principal appraiser in Pakistan Customs serves no practical purpose.
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The Reform and Revenue Mobilization Commission (RRMC) has proposed the implementation of a marking and monitoring system in the petroleum sector to combat the rampant smuggling of petroleum products in Pakistan.
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Pakistan is reviewing a proposal to impose significantly higher tax rates on non-filer religious travelers as part of its efforts to bring undocumented money into the formal economy.
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President Dr Arif Alvi has taken decisive action in response to the mishandling of imported vehicles by the Customs Department, directing the Federal Board of Revenue (FBR) to issue an apology and provide compensation to a citizen who faced significant financial losses.
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Islamabad, May 29, 2023: In a meeting with the Association of Builders and Developers of Pakistan (ABAD), Senator Mohammad Ishaq Dar, the Federal Minister for Finance and Revenue, announced the government’s commitment to introduce a business-friendly budget aimed at supporting the masses and bolstering economic growth. The gathering took place in Islamabad on Monday.
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Islamabad, May 29, 2023: The Federal Board of Revenue (FBR) has issued a directive to all chiefs, urging them to ensure that officials under their administrative control file their asset declarations.
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Pakistan is set to make a significant announcement regarding new petroleum prices on May 31, 2023. These prices will be applicable for the first half of June 2023. The decision to unveil the prices comes in light of the imminent arrival of Russian oil, which holds the promise of offering substantial cost savings compared to […]
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