The Federal Board of Revenue (FBR), Pakistan’s premier tax regulatory authority, has introduced a detailed procedure for determining taxable income.
(more…)Author: Shahnawaz Akhter
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PSX in Green: Expectations for the Coming Week
Karachi, March 8, 2025 – The Pakistan Stock Exchange (PSX) is expected to maintain its positive momentum in the upcoming week, driven by key economic developments and investor optimism, analysts said.
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FBR Issues SRO 301 to Implement Key Changes in EFS
Islamabad – The Federal Board of Revenue (FBR) has issued SRO 301(I)/2025, introducing significant amendments to the Export Facilitation Scheme (EFS) and modifying key aspects of the Customs Rules, 2001.
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SBP Imposes Rs 134.61 Million Penalty on JS Bank
Karachi, March 8, 2025 – The State Bank of Pakistan (SBP) has imposed a monetary penalty of Rs 134.61 million on JS Bank Limited during the calendar year 2024.
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SBP Mandates VPN Access for Regulated Entities
Karachi, March 7, 2025 – The State Bank of Pakistan (SBP) has announced a mandatory transition to Virtual Private Network (VPN)-based access for regulated entities (REs) using its hosted portals.
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FBR Halts New Sales Tax Registration, KTBA Raises Concerns
Karachi, March 7, 2025 – The Karachi Tax Bar Association (KTBA) has raised serious concerns over the virtual standstill in the Federal Board of Revenue’s (FBR) sales tax registration system, stating that the process has nearly come to a halt.
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PSX Gains 685 Points Amid Hopes for Circular Debt Resolution
Karachi, March 7, 2025 – The Pakistan Stock Exchange (PSX) saw a strong rally on Friday, with the benchmark KSE-100 index gaining 685 points as investors reacted positively to expectations of a solution to the country’s circular debt issue.
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Sales Tax Collection on Motor Cars Surges 193% in 1HFY25
Karachi, March 7, 2025 – The collection of sales tax on motor cars has witnessed an extraordinary 193% increase during the first half (July – December) of the current fiscal year 2024-25, according to a report released by the Federal Board of Revenue (FBR).
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FBR Collects Rs 85 Billion Income Tax through Electricity Bills
Karachi, March 7, 2025 – The Federal Board of Revenue (FBR) has successfully collected Rs 85 billion as advance income tax on electricity consumption during the first half (July – December) of the ongoing fiscal year 2024-25.
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FBR Reports 40% Growth in Tax Payments with Returns
Karachi, March 7, 2025 – The Federal Board of Revenue (FBR) has reported an impressive 40% surge in tax payments made alongside tax return filings for the tax year 2024. This significant increase highlights the effectiveness of the government’s recent tax enforcement measures and the growing compliance among taxpayers.
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