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.
(more…)Author: Shahnawaz Akhter
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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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Citizens May Face Prison Sentences for Tax Offenses in Pakistan
Karachi, September 20, 2023 – In a stern warning to citizens, the Federal Board of Revenue (FBR) announced that individuals may face at least one year in prison for various tax offenses.
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Pakistan’s Private Sector Opts for Debt Retirement Over New Bank Loans
Karachi, September 20, 2023 – Pakistan’s private sector has exhibited a distinct preference for debt retirement over taking on new bank loans for business activities.
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FBR Launches Campaign for Return Filing as Deadline Nears
Karachi, September 20, 2023 – The Federal Board of Revenue (FBR) has embarked on a vigorous campaign, imploring citizens to promptly file their income tax returns as the looming deadline of September 30, 2023, approaches.
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Pakistan Sees 50% Surge in Gold Imports in August 2023
Karachi, September 20, 2023 – Pakistan has witnessed a substantial 50 percent increase in the import of gold in August 2023 compared to the previous month, according to official statistics released by the Pakistan Bureau of Statistics (PBS).
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SBP Increases Profit Rates on USD-Based Naya Pakistan Certificates
Karachi, September 19, 2023 – The State Bank of Pakistan (SBP) announced on Tuesday that the government has raised the profit rates on USD-based Naya Pakistan Certificates, making these investment instruments even more attractive for investors.
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