Karachi, August 16, 2023 – Philip Morris Pakistan Limited, an international company known for making cigarettes, has experienced a significant drop of 76 percent in its profits for the first half of this year, which ended on June 30, 2023.
(more…)Author: Shahnawaz Akhter
-
FBR Eases Rules for Property Sellers under Section 7E
Karachi, August 16, 2023 – The Federal Board of Revenue (FBR) has announced a relaxation in the conditions governing Section 7E of the Income Tax Ordinance, 2001, specifically aimed at sellers of immovable property.
(more…) -
Big Jump: 4.38 Million Pakistani Citizens Join Active Taxpayers List
Islamabad, August 15, 2023 – In Pakistan, there has been a substantial surge in enrollment in the Active Taxpayers List (ATL), with the number of participants reaching 4.38 million.
(more…) -
FBR Keeps an Eye on Cash Withdrawals from Banks to Expand Tax Base
Karachi, August 15, 2023 – The Federal Board of Revenue (FBR) has begun monitoring citizens who are withdrawing large amounts of cash from banks, as part of efforts to increase the number of taxpayers in the country.
(more…) -
KTBA Celebrates Pakistan’s 76th Independence Day with Special Flag Hoisting Ceremony
Karachi Tax Bar Association (KTBA) celebrated Pakistan’s 76th Independence Day by organizing a significant flag hoisting ceremony at the Corporate Tax Office in Karachi.
(more…) -
FBR Introduces Mandatory Verification Form for Property Sellers Under Section 7E
Karachi, August 14, 2023 – The Federal Board of Revenue (FBR) has unveiled a significant measure for property transactions, issuing a new verification form under Section 7E of the Income Tax Ordinance, 2001.
(more…) -
Tenure Extended to Two Years for Office Bearers of Trade Bodies
Islamabad, August 13, 2023 – In a significant move, the government of Pakistan has taken a step to provide stability and continuity in the leadership of trade bodies by extending the tenure of office bearers and members of executive committees.
(more…) -
Mastermind Behind Fake Invoice Scam Apprehended by Karachi’s IR Intelligence
The Directorate of Intelligence and Investigation (I&I) of Inland Revenue in Karachi has successfully apprehended the mastermind behind a colossal sales tax scam involving the creation and use of fake and flying invoices.
(more…) -
Sindh Revenue Board Extends Deadline for July 2023 Sales Tax Return Filing
Karachi, August 11, 2023 – In a recent development, the Sindh Revenue Board (SRB) has decided to grant an extension for the filing of sales tax returns for the month of July 2023.
(more…) -
Remittances from UAE into Pakistan plummet by 31% in July 2023
Karachi, August 10, 2023 – The State Bank of Pakistan (SBP) has reported a significant drop in remittances from Pakistani workers in the United Arab Emirates (UAE) during the month of July 2023, revealing a concerning decline of 31 percent compared to the same period in the previous year.
(more…)