Karachi, May 20, 2024 – The Federal Board of Revenue (FBR) reported on Monday that the number of active taxpayers for the tax year 2023 has surged to 4.30 million.
(more…)Author: Shahnawaz Akhter
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KCCI Seeks Sales Tax Exemption on Gold Import
Karachi, May 20, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the government to grant a sales tax exemption on the import of gold for export purposes.
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KCCI Pushes for Inclusion of Commercial Importers in FTR
The Karachi Chamber of Commerce and Industry (KCCI) has called for the inclusion of commercial importers into the Final Tax Regime (FTR), particularly concerning the tax treatment at the import stage.
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PBC Recommends Abolishing Section 8B of Sales Tax Act
Karachi, May 19, 2024 – The Pakistan Business Council (PBC) has proposed the abolition of Section 8B of the Sales Tax Act, 1990, in its budget recommendations for the fiscal year 2024-25.
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Rupee Likely to Stay Stable on Current Account Surplus
Karachi, May 19, 2024 – The Pakistan rupee is expected to remain stable against the US dollar in the upcoming week starting May 20, 2024, buoyed by a current account surplus recorded in April 2024.
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Voting for IRS Officers Association Election on May 26-27
The Inland Revenue Service (IRS) Officers Association is gearing up for its highly anticipated election, scheduled for Sunday, May 26, and Monday, May 27.
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Bearer Prize Bonds Worth Rs 4.61 Billion Still Unclaimed
Karachi, May 19, 2024 – According to the latest data released by the State Bank of Pakistan (SBP), bearer prize bonds worth Rs 4.61 billion remain unclaimed as of March 2024. These bonds are set to expire on June 30, 2024, after which they will hold no value.
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OICCI Demands Abolishing Advance Tax on Telecom Subscribers
Karachi, May 18, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has proposed the abolition of advance tax on telecom subscribers in the upcoming budget for 2024-25.
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KCCI Suggests Adjusting Refunds against Sales Tax Liability
Karachi, May 18, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has proposed that the Federal Board of Revenue (FBR) permit the adjustment of sales tax refunds against sales tax liabilities to address significant delays in payments.
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FBR Establishes Joint Working Group for Phone SIM Blocking
Islamabad, May 17, 2024 – The Federal Board of Revenue (FBR) has announced the formation of a joint working group tasked with enforcing the blocking of mobile phone SIMs belonging to non-filers of income tax returns.
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