Karachi, February 24, 2024 – In a bid to enhance revenue collection and address the issue of undertaxed sectors, the Federal Board of Revenue (FBR) has urged the offices of Inland Revenue (IR) to contribute new and innovative ideas.
(more…)Author: Shahnawaz Akhter
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SBP Facilitates Exporters in Foreign Currency Utilization
Karachi, February 23, 2024 – The State Bank of Pakistan (SBP) announced on Friday a significant move to facilitate exporters by liberalizing the utilization of foreign currency under its ease of doing business initiatives.
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PTBA Concerns Over Tax Justice Delay
Karachi, February 23, 2024 – The Pakistan Tax Bar Association (PTBA) has raised concerns about potential delays in tax cases as a result of the non-availability of tribunal members.
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HBL Records Phenomenal 84% Growth in Annual Profit for CY23
Karachi, February 23, 2024 – In a remarkable financial performance, Habib Bank Limited (HBL) has reported an impressive 84 percent growth in its annual profit for the calendar year 2023.
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Taxpayers Beware: FBR Can Sell Property for Tax Recovery
In a move that highlights the stringent measures taken by the Federal Board of Revenue (FBR) to recover outstanding tax amounts, taxpayers should be aware that the FBR possesses the authority to sell immovable properties.
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Pakistan’s Weekly Forex Reserves Decline by $51 Million
Karachi, February 22, 2024 – Pakistan’s foreign exchange reserves experienced a weekly dip of $51 million, according to the State Bank of Pakistan (SBP) announcement on Thursday.
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FBR Seeks Tax Proposals as Pakistan Prepares Budget 2024-25
Islamabad, February 22, 2024 – The Federal Board of Revenue (FBR) has taken a proactive step towards promoting transparency and inclusivity in the upcoming budget formulation process by inviting trade bodies to submit tax proposals for the fiscal year 2024-25.
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Windfall Tax on Banks Deemed Invalid due to Legislative Delay
Karachi, February 22, 2024 – The imposition of a windfall tax on the additional income of banks has become null and void as it failed to secure approval from the national assembly, according to sources.
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Engro Polymer Pays Rs 1.7 Billion in Super Tax for CY23
Karachi, February 21, 2024 – Engro Polymer and Chemical Limited (EPCL) has contributed Rs 1.7 billion as super tax for the calendar year 2023.
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PTBA Engages Chief Justice Faez Isa on Crucial Tax Issues
Karachi, February 20, 2024 – The Pakistan Tax Bar Association (PTBA) took a proactive stance on addressing key tax concerns during a recent meeting with Chief Justice of Pakistan (CJP) Justice Qazi Faez Isa.
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