Karachi, January 6, 2024 – In a remarkable achievement, the Large Taxpayers Office (LTO) Karachi has secured the top position in tax collection among the offices of the Federal Board of Revenue (FBR) in Pakistan.
(more…)Author: Shahnawaz Akhter
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FBR’s 2023 Audit Performance: Bleak with 1% Recovery
Karachi, January 5, 2024 – The annual performance report of the Federal Board of Revenue (FBR) for the tax year 2023 has revealed a bleak picture, indicating only a one percent recovery out of the total demand created through audits.
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Pakistan Central Government Debt Reaches Rs 63.4 Trillion
Karachi, January 5, 2024 – Pakistan Central Government’s debt situation has been revealed in the latest figures, indicating a total debt of Rs 63.4 trillion as of November 2023.
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Pakistan Customs Unveils Conditions for Drawback Repayment
Karachi, January 5, 2024 – Pakistan Customs has established a set of conditions for the repayment of drawback on the export of imported goods during the tax year 2024.
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FBR Unveils 2024 Tax Rates on Rental Income
Karachi, January 5, 2024 – The Federal Board of Revenue (FBR) has released the much-anticipated tax rates on rental income for the tax year 2024, outlining a progressive structure aimed at ensuring a fair and equitable taxation system.
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SRB Issues Fresh Guidelines to Banks on Sales Tax Payment
Karachi, January 4, 2024 – The Sindh Revenue Board (SRB) has recently issued updated guidelines to banks concerning the payment of sales tax on services in the province.
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SBP Witnesses $1.26 Billion Fortnight Surge in Forex Reserves
Karachi, January 4, 2024 – The State Bank of Pakistan (SBP) has reported a remarkable surge in foreign exchange reserves, with an increase of $1.26 billion in just 15 days.
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FBR Sets Strict Deadline for Customs Duty Refund Claims
Karachi, January 4, 2024 – The Federal Board of Revenue (FBR) has taken a decisive step by announcing that it will reject refund claims of customs duty if filed after one year.
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Who Are E-Intermediaries Under Income Tax Rules for 2024?
In a move to bring clarity to the taxation landscape, the Federal Board of Revenue (FBR) has recently updated the Income Tax Rules for the tax year 2024, shedding light on the definition of e-intermediaries.
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What Constitutes Fiscal Fraud under Pakistan Customs Law?
In an effort to combat fiscal fraud and uphold transparency, the updated Customs Act of 1969 includes detailed provisions regarding fiscal fraud, primarily outlined in Section 32A.
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