Tax registration with the Federal Board of Revenue (FBR) is an essential step for individuals and entities operating in Pakistan, ensuring compliance with income tax regulations and facilitating the filing of tax returns.
(more…)Author: Shahnawaz Akhter
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Pakistan Customs Revises Valuation of Potato Chips After 7 Years
Karachi, April 10, 2024 – Pakistan Customs has initiated a significant revision in the valuation of imported potato chips to align them with international market standards. This move comes after approximately seven years since the last valuation update, reflecting the evolving dynamics of global trade.
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Utility Stores Posts Highest Ever Ramadan Rs 44 billion Sales
Islamabad, April 9, 2024 – The Utility Stores Corporation (USC) has marked a historic achievement with record-breaking sales of Rs 44 billion during the holy month of Ramadan, surpassing its set target of Rs 40 billion under the Prime Minister’s Relief Package.
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RTO Karachi Conducts Midnight Operations for Tax Integration
Karachi, April 8, 2024 – In a bid to enhance tax compliance and integrate businesses with the Federal Board of Revenue (FBR), the Regional Tax Office (RTO) – I Karachi undertook midnight operations on Monday.
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Pakistan Remittances Surge by 31% MoM in March 2024
Karachi, April 8, 2024 – Pakistan has witnessed a significant surge of 31 percent in remittances on a month-on-month (MoM) basis in March 2024.
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Pakistan Customs Levies 20% Duty on Chocolate Crumbs
Islamabad, April 8, 2024- In a recent development, the classification committee of Pakistan Customs has announced the imposition of a 20 percent customs duty on the import of “CDM MAS CRUMBS,” a milk-based mixture with cocoa used in chocolates.
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SRB Extends Deadline for March 2024 Tax Filings and Payments
In response to the evolving circumstances, the Sindh Revenue Board (SRB) has announced an extension of the deadline for filing monthly sales tax returns and the associated tax payments for March 2024.
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FBR Discloses Names of 3.91 Million Active Taxpayers
Karachi, April 8, 2024 – In a significant development, the Federal Board of Revenue (FBR) has unveiled the names of 3.91 million active taxpayers, marking a substantial surge in tax compliance.
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UNISAME Urges Anomaly Removal for Commercial Imports
In a bid to foster fair trade practices and remove existing disparities in raw material clearance, the Union of Small and Medium Enterprises (UNISAME) has directed a fervent appeal towards the commerce ministry. The plea emphasizes the urgent need to rectify an anomaly that discriminates against commercial importers in comparison to their industrial counterparts.
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SBP Directs Banks to Open Accounts for BISP Beneficiaries
Karachi, April 8, 2024 – The State Bank of Pakistan (SBP) has issued directives to banks to open bank accounts for beneficiaries of the Benazir Income Support Program (BISP), aiming to streamline the disbursement process of financial assistance directly into their accounts.
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