Karachi, January 28, 2024 – The Federal Board of Revenue (FBR) is mandated by income tax laws to release the final return forms for Tax Year 2024 by January 31, 2024.
(more…)Author: Shahnawaz Akhter
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PTBA Warns FBR Against Abuse of Assessment Powers
Karachi, January 27, 2024 – The Pakistan Tax Bar Association (PTBA) has issued a stern warning to the Federal Board of Revenue (FBR) concerning the alleged abuse of assessment powers by tax authorities.
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Updated Customs Act Unveils Prerequisites for Appellate Tribunal
Karachi, January 27, 2024 – The recently updated Customs Act, 1969, for the Tax Year 2024, has brought forth crucial details regarding the establishment of the Customs Appellate Tribunal.
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Foreign Profit Repatriation Surges 161% Before Pakistan Elections
Karachi, January 27, 2024 – In a startling revelation, official data released by the State Bank of Pakistan (SBP) on Friday disclosed a staggering 161 percent surge in foreign profit and dividend repatriation from Pakistan in the first half of the fiscal year 2023-24.
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Pakistan Reduces Profit Rates on Key Saving Certificates
Karachi, January 26, 2024 – In a move that has financial circles buzzing, the Pakistan has announced a significant reduction in profit rates on key saving certificates, effective from Friday, January 26, 2024.
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Sindh Sales Tax Rates on Shipping Services in 2024
Karachi, January 26, 2024 – The Sindh Revenue Board (SRB) has recently released the updated sales tax rates on services provided or rendered by shipping agents in the province of Sindh for the tax year 2024.
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Collector (Appeals) Granted Authority to Halt Recovery for 30 Days
Karachi, January 26, 2024 – In a significant development, the Pakistan Customs has conferred the authority upon Collector (Appeals) to stay recovery for a maximum period of 30 days.
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FBR Tightens Property Purchase Rules for Non-ATL Buyers
Karachi, January 26, 2024 – The Federal Board of Revenue (FBR) has implemented significant changes in the realm of property purchase, making it substantially more expensive for individuals not included in the Active Taxpayers List (ATL).
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Pakistan’s Forex Reserves Rise by $196 Million Amid Repayments
Karachi, January 25, 2024 – Pakistan’s foreign exchange reserves witnessed a notable surge, recording an increase of $196 million in the week ended January 19, 2024.
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Customs Officers Empowered to Arrests Offenders
Karachi, January 25, 2024 – In a significant development, Customs officers have been granted enhanced powers to arrest offenders under the updated Customs Act, 1969, for the tax year 2024.
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