Author: Shahnawaz Akhter
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FBR to Publish List for Blocking Phones and Power Connections
Karachi, April 11, 2024 – The Federal Board of Revenue (FBR) will publicly disclose a list of non-filers and take stringent measures, including the blocking of phone, electricity, and gas connections, as part of its crackdown on tax evasion.
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Govt Borrowing Skyrockets by 138% to Rs 4.84 Trillion in 9MFY24
Karachi, April 11, 2024 – Official data reveals a staggering surge in government borrowing from the banking system, soaring to Rs 4.84 trillion during the initial nine months (July – March) of the fiscal year 2023-24.
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Understanding Your Tax Registration Requirements with FBR
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.
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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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