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…)Author: Shahnawaz Akhter
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Engro Polymer Records 61% Decline in Half-Year After-Tax Profit
Karachi, August 10, 2023 – Engro Polymer and Chemicals Limited (EPCL) has encountered a substantial 61 percent drop in profit after tax for the half-year ending June 30, 2023.
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Bank Alfalah Achieves Remarkable 113% Half-Year Profit Surge
Karachi, August 10, 2023 – Bank Alfalah, a prominent player in Pakistan’s financial sector, has stunned the market by announcing an astounding 113 percent growth in net profit for the half-year ending June 30, 2023.
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