ISLAMABAD: A taxpayer has discovered thousands of fake transactions in his profile. The taxpayer moved to the Federal Tax Ombudsman (FTO) for relief after disappointment from the tax authorities.
(more…)Author: Mrs. Anjum Shahnawaz
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Pakistan assures secure, friendly environment for Chinese investors
ISLAMABAD: Pakistan on Thursday assured a completely secure and conducive business environment for Chinese investors.
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Pakistan’s revenue collection failure: Tax-to-GDP ratio remains single digit in 22 years
ISLAMABAD: Pakistan has failed to achieve a double digit tax-to-GDP ratio during past 22 years despite phenomenal growth in revenue collection over the years.
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Duty free imports on annual basis jump by 62.5pc: FBR
ISLAMABAD: Duty free imports have jumped by 62.5 per cent on an annual basis, much higher growth comparing dutiable imports, Federal Board of Revenue (FBR) said in a report released recently.
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Pakistan’s exports decline by 5.8pc in 1HFY23
ISLAMABAD: Pakistan’s exports have declined by 5.8 per cent in the first half (July – December) of fiscal year 2022-2023, according to official trade data released on Tuesday.
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ECC allows release of Rs10 billion subsidy, bank guarantee for LNG
ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Tuesday allowed release of Rs10 billion as subsidy and government bank guarantee up to Rs50 billion for Liquefied Natural Gas (LNG).
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Late filers may not get active taxpayers status even after making compliance
ISLAMABAD: Taxpayers filing annual tax returns after due date may not get status of active taxpayers until payment of surcharge to the Federal Board of Revenue (FBR).
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Pakistan instructs surveillance of travelers to prevent coronavirus
ISLAMABAD: Pakistan on Monday issued instructions to authorities for surveillance of travelers in order to prevent novel coronavirus.
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Pakistan headline inflation increases by 24.5pc in December 2022
ISLAMABAD: The headline inflation of Pakistan based on Consumer Price Index (CPI) increased by 24.5 per cent Year on Year (YoY) in December 2022 as compared to an increase of 23.8 per cent
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Taxpayers can file annual returns after due date to avoid harsh action
Taxpayers still can file annual tax return for tax year 2022 after expiry of last date in order to avoid harsh action, including imprisonment, for violating the tax laws, officials at Federal Board of Revenue (FBR) said.
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