Karachi, August 18, 2023 – The Karachi Tax Bar Association (KTBA) has formally requested the Federal Board of Revenue (FBR) to consider extending the deadline for filing sales tax returns due to technical issues plaguing provincial filing portals.
(more…)Author: Shahnawaz Akhter
-
Wheat Flour Price Soars by 132% in Agricultural Pakistan
Islamabad, August 18, 2023 – The cost of wheat flour, a staple food for the masses in Pakistan, has experienced an unprecedented surge of over 132%.
(more…) -
Pakistan’s Budget Deficit Narrows to 7.7% with 21% Surge in Expenditures in FY23
Islamabad, August 18, 2023 – Pakistan’s fiscal performance for the fiscal year 2022-23 was unveiled on Thursday, indicating a reduction in the budget deficit to 7.7 percent coupled with a notable increase in expenditures by more than 21 percent.
(more…) -
Pakistan Single Window Integrates Digital Services with Government Departments
Islamabad, August 17, 2023 – The Pakistan Single Window (PSW) initiative has achieved a significant milestone by seamlessly integrating its digital services with four key government departments as part of its Phase-II rollout.
(more…) -
Taxpayers Struggle with Sindh Sales Tax Return Compliance Amid Portal Dysfunction
Karachi, August 17, 2023 – Taxpayers in the Sindh province are encountering significant challenges in meeting compliance requirements for filing sales tax returns and making tax payments through the online portal of the Sindh Revenue Board (SRB).
(more…) -
Pakistan Extends Rs30 Billion Tax Exemption to Foreigners on Profit from Debt
Karachi, August 17, 2023 – In a bid to attract foreign investment and bolster the economy, Pakistan has granted a significant income tax exemption exceeding Rs30 billion to foreign entities for profits generated from debt during the fiscal year 2022-23.
(more…) -
Pakistan Grapples with Mounting Economic Woes as Debt and Liabilities Soar to Rs77 Trillion
Karachi, August 17, 2023 – Pakistan financial challenges have deepened as its total debt and liabilities surged by 29 percent, reaching a staggering Rs77 trillion in the fiscal year 2022-23, which concluded on June 30.
(more…) -
Pakistan Unveils Comprehensive Income Categories for Precise Taxation
Karachi, August 17, 2023 – The Federal Board of Revenue (FBR), Pakistan’s foremost tax authority, has unveiled the distinct categories of income for taxation purposes during the fiscal year 2023-24.
(more…) -
FBR Announces Mandatory Tax Return Filing Categories for 2023
Karachi, August 17, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by outlining the categories of individuals who are required to file their annual income tax returns for the tax year 2023.
(more…) -
Karachi Chamber Urges Immediate Rollback of Petroleum Price and Power Tariff Hikes
KARACHI, August 16, 2023 – The Karachi Chamber of Commerce & Industry (KCCI) has called on the government to swiftly retract the recent increases in petroleum prices and power tariffs.
(more…)