Author: Shahnawaz Akhter
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FBR Issues SRO to Implement 25% Sales Tax on Motor Vehicles
Islamabad, March 8, 2024 – In a move to generate revenue and discourage the use of non-essential and luxury items, the Federal Board of Revenue (FBR) in Pakistan has notified a 25 percent sales tax on motor vehicles.
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Workers’ Remittances into Pakistan Grow 13% in February 2024
Karachi, March 8, 2024 – The State Bank of Pakistan (SBP) reported a substantial 13 percent Year-on-Year (YoY) growth in workers’ remittances to Pakistan in February 2024.
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FBR Directs Swift Action on Deferred Sales Tax Refund Claims
Karachi, March 7, 2024 – The Federal Board of Revenue (FBR) has issued crucial instructions to tax offices regarding the expeditious handling of deferred sales tax refund claims.
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SBP Witnesses $54 Million Decline in Weekly Forex Reserves
Karachi, March 7, 2024 – The State Bank of Pakistan (SBP) announced a notable decrease of $54 million in its weekly foreign exchange reserves, according to an official statement released on Thursday.
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PTBA Raises Concerns on Active Taxpayers List 2023
Karachi, March 7, 2024 – The Pakistan Tax Bar Association (PTBA) has voiced apprehensions and raised concerns over the recently released Active Taxpayers List (ATL) for the tax year 2023 by the Federal Board of Revenue (FBR).
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APTMA Strongly Condemns Soaring Gas Tariffs
Karachi, March 7, 2024 – The All Pakistan Textile Mills Association (APTMA) vehemently rejected the recent surge of 223 percent in gas tariffs over the past year, deeming it highly detrimental to the export-oriented textile industry of Pakistan.
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Fertilizer Manufacturers Advocate for Equity in Gas Pricing
Karachi, March 7, 2024 – Fertilizer manufacturers in Pakistan are urging the government to create a level playing field by eliminating discriminatory gas pricing, a move they believe will foster new investments, enhance efficiency, and guarantee ample urea availability for the country’s farmers.
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SRB Seals Tour Operator Branches for Tax Default
Karachi, March 7, 2024 – In a stern move against non-compliant taxpayers, the Sindh Revenue Board (SRB) sealed two branches of a prominent tour operator on Thursday for defaulting in payment of sales tax on services.
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NBP’s Tax Contingencies Surge to Rs 34.73 Billion in CY23
Karachi, March 7, 2024 – The National Bank of Pakistan (NBP) is grappling with a substantial increase in tax contingencies, soaring to an astonishing Rs 34.73 billion by the close of the calendar year 2023.
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SBP Auctions Rs 527 Billion T-Bills with Strong Bank Participation
Karachi, March 6, 2024 – The State Bank of Pakistan (SBP) achieved a significant milestone on Wednesday by successfully selling market treasury bills worth Rs 527 billion in an auction, surpassing the initial target of Rs 225 billion.
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