Islamabad, September 25, 2023 – Pakistan has reported a record-breaking number of 4.72 million income tax returns for the tax year 2022, as per official data released on Monday.
(more…)Author: Shahnawaz Akhter
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SBP Suspends Authorization of Two Exchange Companies for Regulatory Violations
KARACHI, September 25, 2023 – The State Bank of Pakistan (SBP) announced on Monday that it has suspended the authorization of two exchange companies for violations of regulatory guidelines.
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FTO Orders Fact-Finding Committee in Case of Non-Clearance of Bentley Car
Karachi, September 25, 2023 – The Federal Tax Ombudsman (FTO) has issued directives to establish a fact-finding committee in response to a complaint regarding the non-clearance of a Bentley Continental Car.
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BMG Achieves Landslide Victory in KCCI Elections 2023
Karachi, September 25, 2023 – In a resounding victory, the Businessmen Group (BMG) has secured a landslide win in the 2023 annual elections of the Karachi Chamber of Commerce and Industry (KCCI).
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FBR Mandates Companies to Deduct 10% Withholding Tax on Issuance of Bonus Shares
Karachi, September 24, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by directing companies to implement a 10 percent withholding tax on the issuance of bonus shares. This move comes as part of the government’s efforts to enhance tax collection and revenue generation.
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FBR Directs Tax Offices to Ensure September Collection by 28th Due to Eid Milad-un-Nabi
Islamabad, September 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has issued a directive to all tax offices, including Large Taxpayers Offices (LTOs), Medium Taxpayers Office (MTO), Corporate Tax Offices (CTOs), and Regional Tax Offices (RTOs), to ensure the collection of taxes for September 2023 by the 28th of the month. This move is in consideration of the celebration of Eid Milad-un-Nabi, which falls on Friday, September 29, 2023.
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Citizens Risk Losing Electricity Connection for Failing to File Annual Tax Returns
Karachi, September 21, 2023 – Citizens in Pakistan may face disconnection of their electricity connection for failing to file their annual income tax return for the tax year 2023, according to sources within the Federal Board of Revenue (FBR).
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KTBA Chooses Not to Seek Date Extension Despite Return Filing Portal Issues
Karachi, September 21, 2023 – The Karachi Tax Bar Association (KTBA) has made the decision not to request an extension of the deadline for tax return filing, despite encountering glitches and issues on the online portal provided by the Federal Board of Revenue (FBR).
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State Bank of Pakistan Introduces Cash Slabs to Promote Remittances
Karachi, September 21, 2023 – The State Bank of Pakistan (SBP) announced the introduction of cash slabs as part of incentive schemes to promote remittances and encourage domestic financial institutions (FIs) to increase their marketing efforts for mobilizing home remittances through formal channels.
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Pakistan Raises Massive Rs 2.14 Trillion via Treasury Bill Auction
Karachi, September 20, 2023 – Pakistan secured a staggering Rs 2.14 trillion in funds through the sale of treasury bills during an auction conducted by the State Bank of Pakistan (SBP) on Wednesday.
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