(PkRevenue.com) – The Federal Board of Revenue (FBR) has imposed a major penalty of compulsory retirement on Arif Javed, an Inland Revenue Officer (IRO) at the Regional Tax Office (RTO) in Multan, for deliberately causing a substantial loss to the national exchequer.
(more…)Author: Shahnawaz Akhter
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Government Assures KCCI of Considering Budget Proposals
(PkRevenue.com) – The federal government assured the Karachi Chamber of Commerce and Industry (KCCI) on Monday that it would seriously consider their proposals for the 2024-25 budget.
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Pakistan Considers Pension Tax in 2024-25 Budget
Karachi (PkRevenue.com) – In a strategic move to bolster its revenue, Pakistan is poised to introduce a pension tax in the upcoming 2024-25 budget.
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FBR Generates Rs 87 Billion Income Tax from Bank Depositors
Karachi (PKRevenue.com) – In a significant fiscal achievement, the Federal Board of Revenue (FBR) has collected an impressive Rs 87 billion in income tax from bank depositors during the first ten months of the fiscal year 2023-24.
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FBR Proposes Suspending ST Registration for Flying Invoices
(PKRevenue.com) – The Federal Board of Revenue (FBR) has proposed a significant measure to combat tax evasion by suggesting the suspension of sales tax (ST) registration for individuals and entities issuing flying invoices.
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Tajir Dost Scheme Accelerates Tax Registration Drive
Islamabad, May 26, 2024 – In a significant stride towards broadening Pakistan’s tax base, the Federal Board of Revenue (FBR) has reported a surge in tax registrations under the Tajir Dost Scheme.
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Withholding Tax on Bank Cash Withdrawals May Rise to 0.9%
Karachi, May 26, 2024 – Pakistan is likely to increase the withholding tax rate on bank cash withdrawals from 0.6 percent to 0.9 percent. This proposed amendment is expected to be a key component of the Federal Board of Revenue (FBR)’s forthcoming budget for 2024-25.
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Pakistan Likely to Raise Petroleum Levy to Rs 100 per Liter
Islamabad, May 26, 2024 – Pakistan is poised to increase the petroleum levy to Rs 100 per liter, a significant hike from the current Rs 60 per liter in the budget 2024-25.
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FBR Proposes Reforms to Curb Frauds by Battery Manufacturers
Islamabad, May 26, 2024 – In a decisive move to clamp down on pervasive tax frauds, the Federal Board of Revenue (FBR) has proposed significant reforms in the budget for 2024-25 aimed at lead battery manufacturers.
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FBR Mulls Mandatory Sales Tax Deposit by Online Retailers
Islamabad, May 26, 2024 – The Federal Board of Revenue (FBR) is considering a new measure that would require online retailers to deposit sales tax, according to sources within the FBR.
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