Islamabad, August 25, 2024 – The Federal Board of Revenue (FBR) has issued a draft Statutory Regulatory Order (SRO) 1290(I)/2024 on August 24, 2024, aimed at resolving tax disputes involving state-owned enterprises (SEOs) through Alternate Dispute Resolution Committees (ADRCs).
(more…)Author: Shahnawaz Akhter
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Pakistani Salary Class Pays Rs 322 Billion in Income Tax for FY24
Islamabad, August 25, 2024 – The salary class in Pakistan has made a substantial contribution to the country’s tax revenues, paying Rs 322 billion in income tax during the fiscal year 2023-24. This remarkable figure was disclosed by official sources in the Federal Board of Revenue (FBR), highlighting the significant role of salaried individuals in the national tax collection framework.
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Computation of Taxable Income in Pakistan for TY 2024-25
Karachi, August 25, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation regarding the computation of taxable income in Pakistan for the tax year 2024-25.
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FBR Explains Section 7F for Tax on Builders and Developers
Karachi, August 24, 2024 – Federal Board of Revenue (FBR) has explained Section 7F of Income Tax Ordinance, 2001 regarding tax on builders and developers.
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Positive Momentum to Continue at Pakistan Stock Market: Analysts
Karachi, August 24, 2024 – Analysts at Arif Habib Limited are optimistic that the positive momentum will continue at the Pakistan Stock Exchange (PSX) in the coming week.
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FBR Forms Working Group to Boost FY25 Tax Collection Targets
Islamabad, August 23, 2024 – In a strategic move to enhance tax revenue and meet the fiscal year 2024-25 targets, the Federal Board of Revenue (FBR) has established a new working group comprising officers from both the Inland Revenue Service (IRS) and Pakistan Customs Service (PCS). The announcement was made on Friday through an official notification.
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FBR Reviews Tax Valuation Tables Amid Traders’ Concerns
Faisalabad, August 23, 2024 – Muhammad Naeem Mir, the Prime Minister’s Coordinator for the Tajir Dost Scheme, announced on Friday that the Federal Board of Revenue (FBR) is actively reviewing the tax valuation tables in response to concerns raised by traders.
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KCCI Backs Traders’ August 28 Shutdown Over Tax Issues
Karachi, August 23, 2024 – In a move that has captured widespread attention, the Karachi Chamber of Commerce and Industry (KCCI) has announced its support for a nationwide business shutdown planned by traders on August 28.
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KSE-100 Index Ends Week at 78,801 Points
Karachi, August 23, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed the week on a slightly positive note, ending Friday’s session at 78,801 points.
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FBR Unveils Deemed Income Tax Rates for TY 2024-25
Karachi, August 23, 2024 – The Federal Board of Revenue (FBR) has announced the deemed income tax rates for the tax year 2024-25, a move that is expected to impact various resident taxpayers across Pakistan. The new rates, which have been outlined in the Income Tax Ordinance, 2001, updated as of June 30, 2024, come into effect under Section 7E of the Ordinance.
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