Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) has outlined specific deductions to aid taxpayers in accurately computing their business income tax.
(more…)Author: Shahnawaz Akhter
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FBR Reports Massive Rs 98 Billion Tax Collection Gap in 2MFY25
Islamabad – The Federal Board of Revenue (FBR) of Pakistan has reported a significant shortfall of Rs 98 billion in tax collections for the first two months of the current fiscal year 2024-25. According to the latest data released by the FBR, the net tax collection stood at Rs 1,456 billion, falling short of the assigned target of Rs 1,554 billion for the period of July to August 2024.
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FBR Hopes to Hit 1QFY25 Target on Anticipated Import Turnaround
Karachi, September 1, 2024 – The Federal Board of Revenue (FBR) expressed optimism on Sunday about meeting its first-quarter revenue collection target for the fiscal year 2024-25, anticipating a rebound in imports driven by lower inflation and a reduced policy rate.
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Speculation Business: Key Rules Under Income Tax Ordinance
Karachi, September 1, 2024 – The Federal Board of Revenue (FBR) has provided clarity on the definition and treatment of speculation business under the Income Tax Ordinance, 2001, as applicable for the tax year 2024-25.
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Stable Rupee Outlook for Upcoming Week Starting Sept 2
Karachi, September 1, 2024 – The Pakistani rupee is expected to remain stable in the coming week, despite delays in the final approval of a new $7 billion loan program from the International Monetary Fund (IMF).
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FBR Plans Performance-Based Transfers of Senior Officers
Karachi: The Federal Board of Revenue (FBR) is preparing to implement performance-based transfers of senior officers, focusing on revenue collection efficiency.
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PTBA Presents Urgent Tax Concerns to New FBR Chief
Karachi, August 31, 2024 – The Pakistan Tax Bar Association (PTBA) on Saturday highlighted key tax challenges and issues facing taxpayers in a letter to Rashid Mehmood, the newly appointed chairman of the Federal Board of Revenue (FBR).
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PSX Outlook Brightens with Impressive Corporate Results Ahead
Karachi, August 31, 2024 – The Pakistan Stock Exchange (PSX) is expected to maintain its positive momentum next week, beginning September 2, 2024, as ongoing corporate results continue to uplift market sentiment. Analysts at Arif Habib Limited have forecasted a positive outlook for the PSX in the coming week, driven by the ongoing results season and key economic indicators.
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FBR Collects Rs 183 Billion Tax on Property Transactions in TY24
Karachi, August 31, 2024 – The Federal Board of Revenue (FBR) has collected an impressive Rs 183 billion from taxes on immovable property transactions during the tax year 2023-24 (TY24).
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FBR Details 2024-25 Business Income Tax Updates
Karachi, August 30, 2024 – The Federal Board of Revenue (FBR) has released the updated guidelines for business income tax for the tax year 2024-25, offering detailed insights into tax obligations under the Income Tax Ordinance, 2001.
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