Islamabad, January 21, 2025 – The Federal Tax Ombudsman (FTO) reported a significant 51% increase in complaints lodged against the Federal Board of Revenue (FBR) during 2024 compared to the previous year.
(more…)Author: Shahnawaz Akhter
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FBR Secures Rs 200 Billion Tax From Property Transactions
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has achieved a monumental milestone by collecting an impressive Rs 200 billion in taxes from immovable property transactions during the tax year 2024. This marks a substantial 30% increase compared to the Rs 153.75 billion collected in the previous tax year, according to official documentation.
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FBR Updates Rules for Sales Tax Registration
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has introduced updated rules for sales tax registration under the Sales Tax Rules, 2006, effective for the tax year 2025. These revisions aim to streamline the registration process and enhance compliance among taxpayers in Pakistan.
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Pakistan Grants Rs 91 Billion Income Tax Exemptions to Foreigners
Karachi, January 21, 2025 – Pakistan has provided a massive income tax exemption amounting to Rs 91 billion to foreign individuals and entities during a single tax year. This move highlights the country’s strategy to attract foreign investment and strengthen international partnerships.
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FBR Sets January 31 Deadline for Budget Proposals 2025-26
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has announced January 31, 2025, as the deadline for submitting proposals for the federal budget 2025-26.
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RTO-1 Karachi Seals Toy Shop for POS Non-Compliance
Karachi, January 21, 2025 – The Regional Tax Office-1 (RTO-1) Karachi has taken decisive action by sealing a toy shop located in one of the city’s major commercial areas for violating Point of Sale (POS) regulations.
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Power Generation Slumps by 3.4% in 1HFY25
Karachi, January 20, 2025 – Pakistan’s power generation declined by 3.4% during the first half (July–December) of the fiscal year 2024-25, highlighting challenges in the energy sector.
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Pakistan’s Textile Exports Surpass $9 Billion in 1HFY25
Karachi, January 20, 2025 – Pakistan’s textile sector has achieved a significant milestone, recording over $9 billion in export earnings during the first half (July–December) of the current fiscal year 2024-25.
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FBR Tests New System for Rating and Rewards
Islamabad, January 20, 2025 – The Federal Board of Revenue (FBR) has officially announced the test run of a newly developed Rating and Reward System for its officers, marking a significant step under its transformation plan.
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SBP Announces First Monetary Policy of 2025 on January 27
Karachi, January 20, 2025 – The State Bank of Pakistan (SBP) has confirmed that it will unveil the first Monetary Policy Announcement of 2025 on January 27.
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