PkRevenue.com – The number of active taxpayers in Pakistan has surged to 4.54 million for the tax year 2023, driven by concerns over stringent measures by the Federal Board of Revenue (FBR). This significant increase is reflected in the FBR’s weekly Active Taxpayers List (ATL), which accounts for returns filed up to June 9, 2024.
(more…)Author: Shahnawaz Akhter
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World Bank Pours $1 Billion into Pakistan’s Hydropower Project
To bolster Pakistan’s energy sector, the Executive Directors of the World Bank on Tuesday approved an additional $1 billion financing for the Dasu Hydropower Stage I (DHP I) Project.
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REAP Suggests Hassle-Free Tax Payment System
PkRevenue.com – The Rice Exporters Association of Pakistan (REAP) has called on the government to implement a one-window tax system for exports to simplify tax payments and aid exporters.
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Value-Added Textile Exporters Reject Proposed Tax Scrutiny
PkRevenue.com – In a united front against the proposed tax changes in the upcoming budget for 2024-25, the value-added textile exporters have rejected the introduction of a minimum tax regime that includes extensive scrutiny.
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KCCI Expresses Disappointment on Meager Rate Cut
PkRevenue.com – The Karachi Chamber of Commerce and Industry (KCCI) on Monday expressed disappointment over the State Bank of Pakistan’s (SBP) recent rate cut, describing it as a meager reduction.
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KTBA Alerts: IRS Portal Glitch Halts Reference Numbers
PkRevenue.com – The Karachi Tax Bar Association (KTBA) has recently spotlighted a significant glitch in the IRS Portal, causing the cessation of displaying reference order numbers. This technical issue has created considerable inconvenience for taxpayers attempting to revise their sales tax returns.
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FPCCI Demands Larger Rate Cut, Rejects 150bps Reduction
Karachi, June 10, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed strong dissatisfaction with the State Bank of Pakistan’s (SBP) recent decision to cut the key policy rate by 150 basis points.
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SBP Announces 150bps Cut in Benchmark Policy Rate to 20.5%
Karachi, June 10, 2024 – In a move aimed at providing much-needed relief to the economy, the State Bank of Pakistan (SBP) has announced a reduction in the benchmark policy rate by 150 basis points, bringing it down to 20.5 percent.
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Karachi Port in Gridlock: Thousands of Containers Stranded
Karachi, June 9, 2024 — Khurram Ejaz, former president of the Karachi Customs Agents Association, has sharply criticized port authorities for their lack of preparation in clearing thousands of containers stuck at Karachi Port.
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ICAP Suggests Tax Exemption on Annual Salary up to Rs 1 Million
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has put forth a significant proposal for the upcoming budget of 2024-25, suggesting an increase in the income threshold for tax exemption on salaries.
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