Karachi, June 18, 2024 – The Federal Board of Revenue (FBR) is set to gain new powers to determine the value of imported goods for collecting advance income tax. This shift in authority is outlined in the recently presented Finance Bill 2024.
(more…)Author: Shahnawaz Akhter
-
Finance Bill 2024 Sweetens PIA Privatization
Islamabad, June 18, 2024 – In a last-minute bid to attract investors for the privatization of Pakistan International Airlines (PIA), the government has included a key amendment in the Finance Bill 2024.
(more…) -
Pakistan Ramps Up Real Estate Taxation in Finance Bill 2024
Karachi, Pakistan – June 16, 2024 – The real estate sector in Pakistan, long considered under-taxed, is facing a tightening noose from the government.
(more…) -
Tax Changes for Exporters Threaten Forex Reserves, Warn Experts
Karachi, Pakistan – June 16, 2024 – Leading tax experts at KPMG Taseer Hadi & Co. have raised concerns about the impact of tax changes for exporters proposed in the Finance Bill 2024 on Pakistan’s foreign exchange reserves.
(more…) -
What Pakistan’s Banking Sector Gets in Finance Bill 2024
The Finance Bill 2024 introduces several significant changes to the tax laws affecting Pakistan’s banking sector. According to KPMG Taseer Hadi & Co., the banking sector has experienced substantial growth over the past decade, with assets, liabilities, and investments seeing a dramatic increase.
(more…) -
Finance Bill 2024: Tax Changes Impact on Manufacturing Sector
The cyclical nature of Pakistan’s manufacturing sector plays a pivotal role in shaping the overall economy, as it is intricately linked to the Composite Leading Indicator (CLI).
(more…) -
SRB Clarifies Sales Tax on Health and Education Services
Karachi, June 16, 2024 – The Sindh Revenue Board (SRB) has addressed recent reports regarding the implementation of a 15 percent sales tax on health and education services in Sindh, effective from the next fiscal year.
(more…) -
Tax Exemption Certificate Revocation Sparks Outrage
PkRevenue.com – A storm is brewing in the tax community as the Finance Bill 2024 proposes to revoke the power of Commissioners of Inland Revenue to issue tax exemption certificates.
(more…) -
Pakistan Eyes Over 33% Jump in FY25 Petroleum Levy Collection
Islamabad, June 16, 2024 – Pakistan is bracing for a significant rise in its petroleum levy collection in the upcoming fiscal year, with projections exceeding 33% growth.
(more…) -
FBR Unveils Strategy to Achieve Rs 12.97 Trillion Target in 2024-25
The Federal Board of Revenue (FBR) is gearing up to achieve an ambitious tax collection target of Rs 12.97 trillion for the fiscal year 2024-25, according to the recently released budget documents.
(more…)