Islamabad, August 21, 2023 – In a significant milestone for Pakistan’s revenue collection efforts, the Federal Board of Revenue (FBR) has announced that the number of active taxpayers in the country has reached a record high of 4.43 million.
(more…)Author: Shahnawaz Akhter
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SBP Announces Last Date for Resubmission of Duty Drawback Claims
Karachi, August 21, 2023 – The State Bank of Pakistan (SBP) has officially declared the final deadline for resubmission of duty drawback claims, affecting both the textile and non-textile sectors.
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Salary Taxation in Pakistan: FBR Issues Updated Guidelines
Islamabad, August 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently released an updated structure of taxation on salary income, with the new regulations coming into effect on July 1, 2023.
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FBR Sets Heavy Penalties for Income Concealment
Karachi, August 20, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards promoting tax transparency and accountability by prescribing penalties for the concealment of income.
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Punjab Government Unveils Taxation Structure for Immovable Property
Islamabad, August 20, 2023 – The Punjab government’s finance division has released a comprehensive report detailing the various types of taxes imposed on immovable property in the province.
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Pakistan Issues Income Tax Rates for Foreign Shipping and Air Transport
Karachi, August 19, 2023 – Pakistan has officially released the income tax rates applicable to foreign shipping and air transport for the tax year 2023-24, which commenced on July 1, 2023.
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Punjab Leads in Motor Vehicle Tax Collection in FY23: Official Stats
Karachi, August 19, 2023 – Punjab has emerged as the frontrunner in the collection of motor vehicle tax for the fiscal year 2022-23, as per recent official statistics released by the federal finance ministry of Pakistan.
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Pakistan’s July Current Account Deficit Shrinks by 36%, Trade Gap Contracts
Karachi, August 18, 2023 – Pakistan’s current account deficit has shown a remarkable reduction of 36 percent in July 2023, as unveiled by data released by the State Bank of Pakistan (SBP) on Friday.
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Karachi Tax Bar Association Applauds ATIR’s Response on Recovery Stay
Karachi, August 18, 2023 – The Karachi Tax Bar Association (KTBA) has expressed its appreciation for the recent action taken by the Appellate Tribunal Inland Revenue (ATIR) in response to stay applications without recovery notices.
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FBR Urged to Extend Sales Tax Return Date as Provincial Portals Facing Glitches
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.
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