PkRevenue.com – The Lahore High Court (LHC) has declared that the super tax under Section 4C of the Income Tax Ordinance, 2001, cannot be imposed retrospectively on companies and individuals for the tax year 2022.
(more…)Author: Shahnawaz Akhter
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Pakistan Witnesses 9% Dip in Petroleum Sales During 11MFY24
PkRevenue.com — Pakistan has recorded a 9 percent decline in petroleum sales during the first 11 months (July–May) of the fiscal year 2023-24 compared to the same period in the previous fiscal year.
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FBR Portal Glitches Hamper Sales Tax Registration: KTBA
PkRevenue.com — The Karachi Tax Bar Association (KTBA) has raised concerns about technical issues on the Federal Board of Revenue (FBR) portal that are hindering the sales tax registration process.
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FBR Proposes Sales Tax on Mobile Phones in Budget 2024-25
PkRevenue.com – The Federal Board of Revenue (FBR) has proposed levying a sales tax on mobile phones assembled in Pakistan within the upcoming budget for 2024-25.
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Budget 2024-25: Potential Changes for Motor Vehicles
PkRevenue.com – Pakistan’s upcoming budget for the 2024-25 fiscal year may bring revisions to duty and tax structures for motor vehicles, according to analysts at Insight Research.
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ICAP Proposes Tax Relief Measures for Salaried Individuals
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed a series of tax relief measures aimed at easing the tax burden on salaried individuals in the country.
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ICAP Suggests Replacing WHT Regime for Listed Companies
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed a major shakeup in the tax regime for listed companies. In its recommendations for the 2023-24 budget, ICAP suggests replacing the current withholding tax (WHT) system with an adjustable advance tax regime.
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ICAP Recommends Penalty on Stop-Filers
The Institute of Chartered Accountants of Pakistan (ICAP) has put forward a strong recommendation to impose penalties on individuals and entities known as stop-filers of income tax returns.
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FPCCI Backs Tajir Dost Scheme, Urges Further Simplification
PkRevenue.com – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced its strong support for the Federal Board of Revenue’s (FBR) initiative to bring small traders and shopkeepers into the tax net – the Tajir Dost Scheme (TDS).
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FBR Transfers High Profile Inland Revenue Officers on Budget Eve
PkRevenue.com – The Federal Board of Revenue (FBR) has announced the transfer and posting of several senior officers within the Inland Revenue Service (IRS) from BS-19 to BS-21, effective immediately.
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