Karachi, December 18, 2023 – Foreign Direct Investment (FDI) into Pakistan recorded a substantial growth of 12 percent, reaching $131.4 million in November 2023 on a Year-on-Year (YoY) basis.
(more…)Author: Shahnawaz Akhter
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FBR Specifies Supportive Documents for Sales Tax Refund
Karachi, December 18, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing transparency and efficiency in the tax system by issuing a set of required supportive documents for sales tax refunds during the tax year 2024.
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FBR Unveils Procedure for Tax Practitioner Registration in TY2024
Karachi, December 18, 2023 – In a significant development for tax practitioners, the Federal Board of Revenue (FBR) has unveiled the detailed procedure for the registration of income tax practitioners for the tax year 2024.
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Pakistan Records 64.46% contraction in CAD in 5MFY24
Karachi, December 18, 2023 – Pakistan has witnessed a significant contraction of 64.46 percent in its Current Account Deficit (CAD) during the first five months (July – November) of the fiscal year 2023-24, according to data released by the State Bank of Pakistan (SBP) on Monday.
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FBR Explains Filing and Processing of Sales Tax Refund Claims
Karachi, December 17, 2023 – The Federal Board of Revenue (FBR) has provided comprehensive guidance on the filing and processing of sales tax refund claims for the tax year 2024.
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Pakistan Enforces Requirement of Beneficial Owner Details
Karachi, December 17, 2023 – Pakistan has enforced stringent requirements for companies and Associations of Persons (AOPs) to furnish detailed information about beneficial owners.
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Firmer Rupee Outlook for Week Starting December 18, 2023
Karachi, December 17, 2023 – Currency analysts are anticipating a stable trajectory for the Pakistani Rupee (PKR) against the US Dollar in the upcoming week, starting December 18, 2023.
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FBR Transfers Senior IRS Officers in Major Administrative Overhaul
Karachi, December 16, 2023 – The Federal Board of Revenue (FBR) announced on Saturday a major administrative overhaul and transferred senior officers within the Inland Revenue Service (IRS).
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Sales Tax Registered Persons Required to E-File Returns
Karachi, December 16, 2023 – All the sales tax registered persons are required to e-file their returns during tax year 2024.
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FBR Mandates Displaying NTN at Business Places for TY2024
Karachi, December 16, 2023 – The Federal Board of Revenue (FBR) in Pakistan has issued a significant directive, making it mandatory for businesses to display their National Tax Number (NTN) at their respective places of operation during the tax year 2024.
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