Karachi, August 1, 2023: The Karachi Tax Bar Association (KTBA) on Tuesday brought to light critical errors and mistakes present in the income tax return forms for the tax year 2023.
(more…)Author: Shahnawaz Akhter
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Pakistan Extends Interbank Dollar Purchases for Card Payments
Karachi, August 1, 2023 – The State Bank of Pakistan (SBP) announced to extend the settlement of card-based cross-border transactions through interbank for an additional five months.
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From Non-Filers to Active Taxpayers: Pakistan’s ATL Hits 4.26 Million High
Pakistan witnessed significant increase in Active Taxpayers with over 40,000 income tax returns filed in a single week, to high high of 4.26 million.
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SBP Keeps Benchmark Policy Rate Unchanged at 22% Amid Easing Economic Uncertainties
Karachi, July 31, 2023 – The State Bank of Pakistan (SBP) has announced its decision to maintain the benchmark policy rate at 22 percent, citing a decrease in economic uncertainties.
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Super Tax Implemented on Stock Investors by NCCPL
Karachi, July 31, 2023 – The National Clearing Company of Pakistan (NCCPL) has issued a notification regarding the collection of super tax from investors in the stock market.
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FBR Issues Updated Tax Law for Treatment of Black Money in Pakistan
Islamabad, July 31, 2023 – The Federal Board of Revenue (FBR) has recently released an updated tax law aimed at addressing the issue of black money and unexplained funds in Pakistan.
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FBR Implements New Tax Rates on Sale and Purchase of Immovable Property
Karachi, July 29, 2023 – The Federal Board of Revenue (FBR) has recently put into effect new tax rates on the sales and purchase of immovable properties across the country.
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Pakistan Announces 400% Increase in Tax on Payment through Debit/Credit Card
Karachi, July 29, 2023 – In a bid to curb the outflow of dollars and bolster its foreign exchange reserves, Pakistan has taken a significant step by announcing a whopping 400 percent increase in taxes on payments made through debit or credit cards.
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FBR’s Fiscal Fumble: Misses Rs 7.2 Trillion Tax Target for FY23
Karachi, July 28, 2023 – The Federal Board of Revenue (FBR) fell short of its fiscal year 2022-23 tax collection target, as revealed by the finance ministry in a monthly report for July 2023.
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SBP’s Regulatory Crackdown: 11 Banks Slapped with Rs 575 Million in Fines
Karachi, July 27, 2023 – The State Bank of Pakistan (SBP) has taken a firm stance against regulatory violations in the banking sector, imposing a total monetary penalty of Rs 575 million on 11 banks during the first half (January – June) of calendar year 2023.
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