Karachi, May 8, 2024 – The Federal Board of Revenue (FBR) has issued a directive that could lead to the suspension of approximately 2.5 million mobile phone SIMs.
(more…)Author: Shahnawaz Akhter
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FBR Amends Sales Tax Rules for Balance Sheet Requirement
Karachi, May 8, 2024 – The Federal Board of Revenue (FBR) has amended the requirements for submitting balance sheets along with monthly sales tax returns.
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MICADR Advised for Business Dispute Resolution in Pakistan
KARACHI: During a recent meeting at the Karachi Chamber of Commerce & Industry (KCCI), Justice (Retd.) Arif Hussain Khilji, Managing Director of Musaliha International Center for Arbitration and Dispute Resolution (MICADR), advocated for businesses to employ arbitration and mediation services provided by MICADR to resolve disputes.
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Key Changes to Income Tax Ordinance through New Laws 2024
The Income Tax Ordinance, 2001 has undergone significant revisions through the enactment of new Tax Laws (Amendment) Act, 2024.
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Thousands of Cases Stuck Amid Missing Rules for New Tax Laws
As the government rolled out the Tax Laws (Amendment) Act, 2024, thousands of tax cases have been bottlenecked at various tribunals, casting a shadow over the efficacy of the new legislative framework.
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PTCL Battles Extensive Tax Contingencies into 2024
Karachi, May 7, 2024 – Pakistan Telecommunication Company Limited (PTCL) has unveiled a comprehensive report on its tax contingencies for the fiscal year ending December 31, 2023.
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FBR Initiates Comprehensive HR Audit in Pakistan Customs
Karachi, May 7, 2024 – The Federal Board of Revenue (FBR) has directed all Pakistan Customs stations to furnish comprehensive details of their workforce.
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Pakistan Business Council Seeks Clarity on Group Taxation
Karachi, May 6, 2024 – The Pakistan Business Council (PBC), a leading advocacy group representing major businesses in the country, has submitted proposals for the upcoming budget 2024-25. A key area of focus for the PBC is seeking amendments to the existing group taxation regulations to provide clarity and relief regarding inter-corporate dividends (ICD).
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Engro and DH Corp Boards Greenlight Major Restructuring Plan
In a significant move on May 3, 2024, the boards of Engro Corporation Limited (Engro Corp) and DH Corporation Limited (DH Corp) approved a restructuring plan involving, aiming to optimize capital allocation and enhance shareholder returns.
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PTBA Demands Release of Draft Tax Return Forms for 2024
Karachi, May 6, 2024 – The Pakistan Tax Bar Association (PTBA) has officially called upon the Finance Minister, Muhammad Aurangzeb, to expedite the issuance of the draft tax return forms for the tax year 2024.
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