Karachi, February 25, 2025 – The Pakistan Tax Bar Association (PTBA) has raised concerns regarding the difficulties taxpayers face in complying with various tax statutes.
(more…)Author: Shahnawaz Akhter
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FBR Introduces Automated System for Unregistered Supplies
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has taken a significant step towards improving tax compliance by developing an automated system for handling adjustments of unregistered supplies through credit notes.
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FBR Penalizes IRS BS-20 Officer, Stops Promotion for Two Years
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has taken disciplinary action against a senior Inland Revenue Service (IRS) officer, imposing a penalty and halting his promotion for two years due to charges of misconduct and inefficiency.
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Pakistan Spends $135 Million on Indian Imports
Karachi, February 25, 2025 – Pakistan has paid a total of $135 million for imports from India during the first seven months (July–January) of the fiscal year 2024-25.
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FTO Uncovers Rs 9.38 Billion Annual Electricity Tax Loss
Karachi, February 25, 2025 – The Federal Tax Ombudsman (FTO) has identified a staggering annual revenue loss of Rs 9.38 billion to the Federal Board of Revenue (FBR) due to discrepancies in the collection of electricity tax across the country.
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FBR Establishes Centralized Customs Examination Unit
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has announced the establishment of a Centralized Customs Examination Unit (CEU) in Karachi to enhance the efficiency of customs operations, ensure transparency, and expedite the clearance of goods.
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OGDCL Discovers Oil and Gas in North Waziristan
Karachi, February 25, 2025 – The Oil and Gas Development Company Limited (OGDCL) has announced a significant discovery of oil and gas at the Exploratory Well Spinwam-1 in the Waziristan Block, situated in the North Waziristan District of Khyber Pakhtunkhwa Province.
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Tax Policy Will Not Limit to Mathematical Calculation: Aurangzeb
Karachi, February 24, 2025 – Finance Minister Muhammad Aurangzeb has emphasized that tax policy formulation should not be confined solely to mathematical calculations but must also consider the broader economic value.
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Windfall Tax Issue Remains in Lahore High Court: MCB Bank
Karachi, February 24, 2025 – MCB Bank has confirmed that the windfall tax issue remains sub judice before the Lahore High Court, as the bank has successfully secured a stay order.
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FPCCI Proposes Advance Tax Removal on First Property Purchase
Karachi, February 24, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has put forward a proposal urging the government to eliminate the advance tax levied on the first purchase of property.
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