Islamabad, May 25, 2024 – The Federal Board of Revenue (FBR) has proposed the elimination of capital gains tax (CGT) relief on the sale of immovable property.
(more…)Author: Shahnawaz Akhter
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LTO Karachi Collects Rs 4 Billion in Tax on Foreign Card Payments
Karachi, May 25, 2024 – The Large Taxpayers Office (LTO) Karachi has reported a significant fiscal milestone, collecting Rs 4 billion in withholding tax from foreign payments made through debit and credit cards.
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FBR Proposes Capital Gains Tax Levy on Used Cars Sale
Islamabad, May 25, 2024 – In a significant move poised to impact the automotive market, the Federal Board of Revenue (FBR) has proposed the introduction of a capital gains tax (CGT) on the sale of used cars.
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PBC Urges Rectification of Tax Anomalies in Services Sector
Karachi, May 24, 2024 – The Pakistan Business Council (PBC) has urged authorities to address and rectify tax anomalies in the services sector through amendments in the forthcoming budget for the fiscal year 2024-25.
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FBR Collects Rs 10 Billion in Tax from Bank Cash Withdrawals
Islamabad, May 24, 2024 – The Federal Board of Revenue (FBR) has successfully collected Rs 10 billion in advance tax from cash withdrawals at banks during the first 10 months of the current fiscal year.
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TPL Trakker Announces Partnership with UAE Gargash Group
Karachi, May 24, 2024 – TPL Trakker Limited announced on Friday that its Board of Directors has authorized a fresh equity injection into its associated company, Trakker Middle East Limited (TME), and approved a binding agreement with the UAE-based Gargash Group.
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PPL Forms JV with Degan Exploration for Mineral Project
Karachi, May 24, 2024 – Pakistan Petroleum Limited (PPL) announced on Friday the formation of a joint venture (JV) with Degan Exploration Works (DEW) for a mineral exploration license in District Chagai, Balochistan. This strategic move aims to diversify PPL’s business portfolio by expanding its mining operations.
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FBR Envisions Encompassing Expansive 18% Sales Tax Regime
In a bold and transformative move, the Federal Board of Revenue (FBR) is contemplating an extensive overhaul of the current sales tax framework for the fiscal year 2024-25.
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Fruit Juice Council Demands Removal of 20% FED in Budget
Karachi, May 23, 2024 – The Fruit Juice Council (FJC) has urgently appealed to the Federal Board of Revenue (FBR) for the elimination of the 20% Federal Excise Duty (FED) in the forthcoming budget for 2024-25.
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MTO Karachi Recovers Super Tax of Rs 607 Million from Maersk
Karachi, May 23, 2024 – In a landmark fiscal achievement, the Medium Tax Office (MTO) Karachi has effectuated the recovery of a colossal sum of Rs 607 million in super tax from Maersk, the globally eminent shipping and logistics conglomerate.
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