Karachi, December 7, 2023 – The Government of Pakistan has made it compulsory to conduct sales tax transactions exceeding Rs 50,000 through banking channels.
(more…)Author: Shahnawaz Akhter
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FBR Notifies Mandatory Record-Keeping for Salaried Individuals
Karachi, December 7, 2023 – The Federal Board of Revenue (FBR) has announced the mandatory requirement of record keeping for salaried individuals as part of the updated Income Tax Rules, 2002 for the tax year 2024.
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FBR Gains Access to PSX Online System for Broadening Tax Base
Karachi, December 6, 2023 – The Federal Board of Revenue (FBR) will gain access to the online system of the Pakistan Stock Exchange (PSX) for broadening of tax base.
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Government Announces Rewards for Whistleblowers in Sales Tax Evasion Cases
Karachi, December 6, 2023 – The government of Pakistan has introduced a reward system for whistleblowers who provide credible information leading to the detection of sales tax evasion.
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FBR Issues Record Keeping Requirements for Business Income up to Rs 500,000
Karachi, December 6, 2023 – The Federal Board of Revenue (FBR) in Pakistan has notified updated record-keeping requirements for businesses with an annual turnover of up to Rs 500,000.
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State Bank of Pakistan Launches Raast Person to Merchant Service to Boost Digital Payments
Karachi, December 5, 2023 –The State Bank of Pakistan (SBP) officially unveiled the Raast Person to Merchant (P2M) Service on Tuesday for advancing digital payment solutions in Pakistan.
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SBP Proposes Regulatory Sandbox to Propel Digital Financial Services Innovation
Karachi, December 5, 2023 – In a strategic move to foster innovation in the digital financial services (DFS) sector, the State Bank of Pakistan (SBP) unveiled a draft regulatory sandbox on Tuesday, encouraging stakeholders to provide feedback before the finalization of the regulatory and technical sandboxes.
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FBR Set to Implement Real-Time Access to Information and Databases
Karachi, December 5, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing its capabilities by finalizing plans to gain real-time access to information and databases of both public and private institutions.
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