PkRevenue.com – On Thursday, representatives from the steel industry met with Finance Minister Muhammad Aurangzeb to discuss proposals for the upcoming 2024-25 budget.
(more…)Author: Shahnawaz Akhter
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FBR Suggests New CGT on Non-Residents’ Capital Assets
PkRevenue.com – In a move aimed at tightening tax regulations, the Federal Board of Revenue (FBR) has proposed the imposition of capital gains tax (CGT) on the disposal of capital assets by non-residents.
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UNISAME Fears More Tax Burden Will Cripple SME Sector
PkRevenue.com – Zulfikar Thaver, President of the Union of Small and Medium Enterprises (UNISAME), has expressed grave concerns over potential new tax burdens in the upcoming 2024-25 budget, warning that additional taxes could severely cripple the already struggling SME sector.
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Government Borrowing from Banks Nears Rs 7 Trillion Mark
PkRevenue.com – Government borrowing from banks in Pakistan has surged to unprecedented levels, nearing a staggering Rs 7 trillion. Data from the State Bank of Pakistan (SBP) revealed that between July 1, 2023, and May 17, 2024, the federal government borrowed Rs 6.795 trillion.
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IRS Comrades Pledge Dedication to FBR Officers’ Welfare
PkRevenue.com – The Comrades Panel of the Inland Revenue Service (IRS) Officers Group, vying in the upcoming organizational election for the 2024-26 term, has vowed to champion the welfare of Federal Board of Revenue (FBR) officers.
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Hutchison Ports Pakistan Welcomes Largest Container Vessel
PkRevenue.com – Hutchison Ports Pakistan marked a historic milestone as it welcomed the maiden call of the CV MSC ANNA, the largest container vessel ever to berth in Pakistan.
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Sindh Minister Discloses Rs 20 Billion Excess Billing by K-Electric
PkRevenue.com – Sindh Minister for Energy Nasir Hussain Shah revealed on Wednesday that K-Electric has charged an excess of Rs 20 billion in billing to provincial government departments over the past decade.
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FBR Proposes Major Penalty Hikes for Sales Tax Violations
PkRevenue.com – In a bold move aimed at bolstering tax compliance, the Federal Board of Revenue (FBR) has proposed an unprecedented escalation in penalties for violations of sales tax regulations.
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Check Your Name in ATL Updated as of May 26, 2024
(PkRevenue.com) – The Federal Board of Revenue (FBR) has released the updated Active Taxpayers List (ATL) for the tax year 2023, which has been updated as of May 26, 2024. The FBR is encouraging all citizens to check their status on this list to avail themselves of the numerous benefits associated with being a compliant taxpayer.
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FBR Proposes Tax on Govt. Securities Sold Before Maturity
(PkRevenue.com) – In a bid to curb revenue leakage and enhance the documentation of financial transactions, the Federal Board of Revenue (FBR) has proposed imposing a withholding tax on government securities sold before their maturity. This proposal is part of the FBR’s budget recommendations for the fiscal year 2024-25.
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