Karachi, December 20, 2023 – A commissioner of the Federal Board of Revenue (FBR) is now empowered to issue arrest warrants for tax defaulters.
(more…)Author: Shahnawaz Akhter
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Pakistan Achieves Highest-Ever 5.32 Million Active Taxpayers
Karachi, December 19, 2023 – Pakistan has etched its name in history by achieving an unprecedented milestone of 5.32 million active taxpayers, as disclosed by the Federal Board of Revenue (FBR).
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Special Procedure Unveiled for Sales Tax Refund in Pharma Sector
Karachi, December 19, 2023 – In a significant move to streamline processes and facilitate the pharmaceutical sector, the Federal Board of Revenue (FBR) has unveiled a special procedure for the issuance of sales tax refunds during the tax year 2024.
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FBR Lists Items Exempted from Confiscation Against Tax Recovery
Karachi, December 19, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards refining the tax recovery process by issuing a comprehensive list of items exempted from confiscation.
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SBP Allows Banks for Third-Party Customer Verification Platform
Karachi, December 18, 2023 – The State Bank of Pakistan (SBP) has granted approval for banks to leverage a shared platform for Know Your Customer (KYC) and Customer Due Diligence (CDD).
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Sindh Invites Tax Proposals for Budget 2024-25
Karachi, December 18, 2023 – The Sindh government has formally invited tax proposals for the upcoming budget for the fiscal year 2024-25. The call for proposals comes from the Sindh Revenue Board (SRB), the provincial tax agency, which has set a deadline of January 29, 2024, for submissions.
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PTBA Demands to Stop Non-Filers from Contesting Elections
Karachi, December 18, 2023 – The Pakistan Tax Bar Association (PTBA) issued a stern call on Monday for the Election Commission of Pakistan (ECP) to reject the nomination papers of non-filers, asserting that those who evade taxes should be denied the right to representation.
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Foreign Direct Investment Grows by 12% in November 2023
Karachi, December 18, 2023 – Foreign Direct Investment (FDI) into Pakistan recorded a substantial growth of 12 percent, reaching $131.4 million in November 2023 on a Year-on-Year (YoY) basis.
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FBR Specifies Supportive Documents for Sales Tax Refund
Karachi, December 18, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing transparency and efficiency in the tax system by issuing a set of required supportive documents for sales tax refunds during the tax year 2024.
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FBR Unveils Procedure for Tax Practitioner Registration in TY2024
Karachi, December 18, 2023 – In a significant development for tax practitioners, the Federal Board of Revenue (FBR) has unveiled the detailed procedure for the registration of income tax practitioners for the tax year 2024.
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