Islamabad, September 28, 2024 – In a decisive move aimed at intensifying its crackdown on tax evasion, the Federal Board of Revenue (FBR) is poised to redefine the term “non-filers” under the Income Tax Ordinance, 2001.
(more…)Author: Shahnawaz Akhter
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IMF Tranche Likely to Push Upward Pakistan Stocks Next Week
Karachi, September 28, 2024 – Pakistan stocks is expected to maintain its positive trajectory next week, buoyed by the receipt of the first tranche under the $7 billion loan program from the International Monetary Fund (IMF).
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FPCCI Demands 30-Day Extension for Tax Return Filing Deadline
Karachi, September 28, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday urged the government to extend the deadline for filing income tax returns by a clear 30 days, citing technical challenges and system inefficiencies.
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PTBA Calls for Extension, Urges Non-Filers to File Taxes
Karachi, September 27, 2024 – The Pakistan Tax Bar Association (PTBA) has urged the government to extend the deadline for filing income tax returns for the current fiscal year, offering a crucial opportunity for non-filers to comply and become active taxpayers. In a statement released on Friday, the PTBA lauded the government’s recent decision to abolish the non-filer category but emphasized the need for an extension to facilitate this transition.
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FBR Notifies Working Groups for Ambitious Transformation Plan
Islamabad, September 27, 2024 – The Federal Board of Revenue (FBR) has announced the formation of multiple working groups to develop and implement the FBR’s ambitious Transformation Plan.
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SBP Receives First Tranche from IMF’s $7 Billion Loan Program
Karachi, September 27, 2024 – The State Bank of Pakistan (SBP) announced on Friday that it has received the first tranche of the International Monetary Fund’s (IMF) $7 billion loan program.
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Taxpayers Await FBR Decision on Deadline Extension for Income Tax Returns
Karachi, September 27, 2024 – As the Federal Board of Revenue (FBR) approaches the September 30 deadline for the filing of income tax returns for the fiscal year 2024, taxpayers and tax professionals across the country are increasingly voicing concerns over the feasibility of meeting this target.
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SBP Announces Buyback Auction for Market Treasury Bills
Karachi, September 27, 2024 – In a significant move aimed at managing public debt and liquidity in the financial markets, the State Bank of Pakistan (SBP) has announced its decision to conduct an auction for the buyback of Market Treasury Bills (MTBs).
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FBR Elaborates CGT on Asset Disposal Outside Pakistan
Karachi, September 27, 2024 – The Federal Board of Revenue (FBR) has recently provided detailed guidelines regarding the imposition of Capital Gain Tax (CGT) on the disposal of assets located outside Pakistan during the tax year 2024-25.
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Interbank Market Opens with 19-Paisa Gain for Rupee to Dollar
Karachi, September 27, 2024 – The interbank foreign exchange market began trading on Friday with a notable 19-paisa gain in the value of the Pakistani rupee against the US dollar, driven by optimism following the approval of a loan from the International Monetary Fund (IMF). The rupee appreciated to PKR 277.50 from the previous day’s close of PKR 277.69 per US dollar.
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