Pakistan Revenue
Pakistan has increased the regulatory duty on imported motor vehicles from 90% to 100%. The decision, communicated through the issuance of SRO 1571(I)/2022 by the Federal Board of Revenue (FBR), comes as part of the government’s efforts to stabilize the balance of payments and manage the outflow of foreign exchange.
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ISLAMABAD: Pakistan on Monday revised laws to impose tax on retailers after suspending fixed tax scheme. President Arif Alvi has signed the bill namely Tax Laws (Second Amendment) Ordinance, 2022 to promulgate the revised taxation on the retailers. Through the immediate ordinance, amendments have been made to Sales Tax Act, 1990 under which retailers are […]
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In a move aimed at enhancing revenue generation during the current fiscal year, Pakistan has implemented new amendments to both direct and indirect tax laws.
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The government on Sunday ordered an inquiry into the collection of sales tax at increased rates from retailers. Prime Minister Muhammad Shehbaz Sharif directed the investigation, focusing on the imposition of a higher sales tax ratio on small traders through electricity bills, which exceeded the agreed-upon rate.
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ISLAMABAD: The President of Pakistan, Dr. Arif Alvi has rejected plea in six different cases filed by Habib Bank Limited (HBL) and ordered to pay victims. A statement issued on stated that the President ordered the HBL to compensate the victims of online banking fraud as justifications presented by the bank were not sufficient. READ […]
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In a strategic initiative aimed at enhancing tax collection and ensuring fair market valuation, the Federal Board of Revenue (FBR) has revised the valuation of properties in the Gwadar region. The move, outlined in the SRO 1271(I)/2022 dated August 01, 2022, represents a crucial step in aligning property valuations with current market dynamics.
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The Federal Board of Revenue (FBR) has introduced new valuations for immovable properties in Islamabad, effective from August 01, 2022.
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ISLAMABAD: The date for filing annual income tax return for the tax year 2022 is expiring on September 30, 2022, official sources told PkRevenue.com on Saturday. Senior officials at Federal Board of Revenue (FBR) said that the all the taxpayers other than corporate taxpayers are required to file annual return of income for tax year […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has transferred and posted 15 senior officers of BS-20 and BS-21 in Pakistan Customs Service (PCS) with immediate effect and until further orders. The FBR through an official communication issued on August 19, 2022 notified transfers and postings of following officers: READ MORE: Pakistan Customs foils attempt to […]
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KARACHI: The upcoming monetary policy decision scheduled for August 22, 2022 likely to dictate the stock market during the next week.
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