Islamabad, October 14, 2024 – In an aggressive push against tax evasion, the Federal Board of Revenue (FBR) has arrested several Chief Financial Officers (CFOs) linked to large-scale sales tax fraud.
(more…)Author: Shahnawaz Akhter
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PPL Commences Oil and Gas Production from Adhi South-9
Karachi, October 14, 2024 – Pakistan Petroleum Limited (PPL) has successfully commenced oil and gas production from its new development well, Adhi South-9, located within the Adhi Mining Lease. This marks a significant step in the company’s ongoing efforts to boost the country’s domestic oil and gas output.
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SBP Launches Challenge Fund to Boost SME Financing
Karachi, October 14, 2024 – The State Bank of Pakistan (SBP) has introduced a new challenge fund aimed at improving access to finance for small and medium-sized enterprises (SMEs).
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No More Extensions: FBR Confirms Final Deadline for Return Filing
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.
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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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