Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has reported a 7.8 percent drop in customs duty collection during fiscal year 2022-23, attributing the decline to challenges arising from falling imports.
(more…)Author: Shahnawaz Akhter
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Sales Tax Collection Grows Marginally by 2.3% Despite Uniform Rate Increase in FY23
Karachi, November 28, 2023 – The collection of sales tax during the fiscal year 2022-23 exhibited marginal growth of 2.3 percent, reaching Rs. 2,591 billion, despite an increase in the uniform sales tax rate to 18 percent.
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Direct Taxes Lead Fiscal Year 2022-23 Revenue Collection with 46% Contribution
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has revealed in its fiscal year 2022-23 yearbook that direct taxes emerged as the leading contributor to total revenue collection, accounting for an impressive 46 percent share.
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FBR Achieves Historic Rs 7 Trillion Collection Milestone, Slightly Misses FY23 Target
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has announced the achievement of a historic milestone by surpassing the Rs 7 trillion collection mark for the first time in the country’s history.
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K-Electric Planned Rs 484 Billion Investment Affirms Commitment to Quality Services, Says CFO
Karachi, November 28, 2023 – Aamir Ghaziani, the Chief Financial Officer of K-Electric, expressed the company’s dedication to providing high-quality services as he announced the planned Rs 484 billion investment and the proposed addition of 1,200 MW of renewable energy.
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Foreign Investors Confidence in Pakistan Remains Negative but Shows Improvement
Karachi, November 28, 2023 – The business confidence index of foreign investors in Pakistan continues to register negativity, according to a survey released on Tuesday.
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FBR Directs Stock Investors to Maintain Records for Verification in Tax Year 2024
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has issued a directive to all investors in the Pakistan Stock Exchange (PSX) to maintain comprehensive records for the verification of liability discharge during the tax year 2024.
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FBR Unveils Sales Tax Recovery Procedure for Tax Year 2024
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has announced the comprehensive procedure for the recovery of sales tax for the upcoming tax year 2024.
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Foreign Companies Repatriate Record $485.40 Million in Profits in 4MFY24, Marking 584% YoY Surge
Karachi, November 27, 2023 – Foreign companies operating in Pakistan have repatriated a staggering $485.40 million in profits and dividends during the first four months (July – October) of the fiscal year 2023-2024.
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Weekly Active Taxpayers List Hits Record High at 5.2 Million
KARACHI, November 27, 2023 – The Federal Board of Revenue (FBR) announced the release of the weekly Active Taxpayers List (ATL) on Monday, revealing a significant surge in the number of active taxpayers, setting a new record at 5.2 million by the week ending November 26, 2023.
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