Islamabad, May 1, 2024: The Federal Board of Revenue (FBR) is gearing up for a significant overhaul of property valuation tables, aiming to bring them closer to fair market value (FMV) starting July 1, 2024.
(more…)Author: Shahnawaz Akhter
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FBR Faces Criticism for Exposing Identity of 0.5 Million Non-Filers
The Federal Board of Revenue (FBR) has stirred controversy by revealing the identity of over half a million citizens who have not filed their income tax returns, according to Income Tax General Order No. 1 issued on April 30, 2024.
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FBR Portal Denies Input Tax Adjustment for Registered Taxpayers
In a recent development that has caused widespread disruption among the business community, the Federal Board of Revenue (FBR) portal is currently denying input tax adjustments to registered sales tax persons, in the wake of the implementation of SRO 350.
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MTO Karachi Achieves 80% Growth in April Tax Collections
Karachi – The Medium Tax Office (MTO) in Karachi has reported an extraordinary 80% year-on-year increase in tax collections for April 2024, according to the latest provisional figures released this Tuesday.
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LTO Karachi Surpasses Rs 2 Trillion Amid Organizational Upheaval
KARACHI: Despite gloomy and uncertain organizational upheaval, the Large Taxpayers Office (LTO) Karachi has hit a new milestone by collecting over Rs 2 trillion in revenue for the fiscal year 2023-24, as of April 30, 2024.
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FBR Blocks Mobile Phone SIMs of Half a Million Non-Filers
Islamabad, April 30, 2024 – The Federal Board of Revenue (FBR) has taken stringent action against non-filers by blocking the mobile phone SIMs of half a million individuals.
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KCCI Applauds Govt Move to Limit Customs Raids
Karachi, April 30, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has commended the recent government decision to limit the scope of Pakistan Customs’ raids on business premises, heralding a significant shift towards more business-friendly policies.
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State Bank of Pakistan Receives $1.1 Billion from IMF
Karachi, April 30, 2024 – The State Bank of Pakistan (SBP) confirmed receiving $1.1 billion from the International Monetary Fund (IMF) on Tuesday.
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Deadline Approaches for Registration under Tajir Dost Scheme
Karachi, April 30, 2024 – Today marks the final call for shopkeepers and small traders across Pakistan to register under the newly launched Tajir Dost Scheme. The Federal Board of Revenue (FBR) introduced this initiative at the start of April 2024, providing a one-month window, which concludes today, for mandatory registration.
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Repatriation of Profits and Dividends Skyrockets 256% in 9MFY25
Karachi, April 29, 2024 – A significant uptick has been observed in the repatriation of profits and dividends by foreign companies in Pakistan, with figures surging 256% in the period from July 2023 to March 2024.
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