The Federal Board of Revenue (FBR) has confirmed that October 14, 2024, will be the final deadline for filing income tax returns for the 2024 tax year. In its latest statement on Monday, the FBR clarified that there will be no further extensions granted beyond this date, urging taxpayers to complete their submissions promptly.
(more…)Author: Shahnawaz Akhter
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FBR Explains How to Obtain Extension for Tax Return Filing
Karachi, October 13, 2024 – The Federal Board of Revenue (FBR) has announced a clear process for taxpayers who are unable to meet the income tax filing deadline, offering a pathway to secure an extension.
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FBR May Extend Return Filing Deadline Amid Islamabad Holidays
Karachi, October 13, 2024 – The Federal Board of Revenue (FBR) is likely to further extend the deadline for filing income tax returns for the tax year 2024 due to the public holidays declared in Islamabad.
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Desperate FBR Targets CFOs to Curb Fake Invoices
Karachi, October 13, 2024 – The Federal Board of Revenue (FBR) has shifted its focus toward holding Chief Financial Officers (CFOs) accountable for ensuring the authenticity of sales tax returns.
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Pakistan Customs Implements New Valuation for Power Tools
Karachi, October 13, 2024 – In a significant regulatory update, Pakistan Customs has announced revised customs valuations for the import of power tools, a move aimed at curbing under-invoicing and ensuring more accurate duty and tax assessments.
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LTO Karachi Collects Rs 680 Billion in 1QFY25 Despite Import Slowdown
Karachi, October 13, 2024 – The Large Taxpayers Office (LTO) Karachi collected a staggering Rs 680 billion during the first quarter (July-September) of the fiscal year 2024-25. This robust performance comes despite modest growth in revenues from imports, underscoring the remarkable resilience and efficiency of domestic tax collection efforts.
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Pakistan Stocks May Surge on Strong Earnings Expectations
Karachi, October 12, 2024 – Pakistan stocks are projected to maintain their positive trajectory next week, driven by anticipated strong corporate results, according to analysts from Arif Habib Limited. With the result season starting next week, several key scrips are expected to be in the spotlight, fueled by predictions of robust financial outcomes.
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FBR Chairman Plans Busy Karachi Visit Amid Islamabad Holidays
Karachi, October 11, 2024 – Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has laid out a demanding agenda for his upcoming visit to Karachi. During the public holidays announced in Islamabad for the Shanghai Cooperation Organization (SCO) Summit, Langrial will capitalize on this period by engaging in pivotal meetings and performance evaluations in the economic hub of Pakistan.
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KSE-100 Index Gains 30 Points After Day-Long Negativity
Karachi, October 11, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) showed resilience on Friday, managing to recover from a day of negativity to end with a modest gain of 30 points. The KSE-100 index closed at 85,483 points, up from the previous day’s closing of 85,453 points.
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What Pakistan Committed to IMF for Aggressive FY25 Tax Collection
Karachi, October 11, 2024 – Pakistan has reaffirmed its strong commitment to the International Monetary Fund (IMF) to substantially increase tax collection in the fiscal year 2024-25. In its latest country report, the IMF outlined Pakistan’s pledge to implement robust fiscal policies designed to bolster tax revenues and meet stringent economic goals, as the country faces ongoing economic challenges.
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