Karachi, August 10, 2023 – Meezan Bank Limited (MEBL), the leading Islamic bank in Pakistan, has reported a remarkable 93 percent increase in after-tax profit for the first half of the year ending on June 30, 2023.
(more…)Author: Shahnawaz Akhter
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Record High Bank Deposits Reach Rs25.70 Trillion in Pakistan
Karachi, August 9, 2023 – Deposits in commercial banks in Pakistan have reached an all-time high of Rs25.70 trillion by the end of July 2023, driven by the country’s highest interest rates.
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FBR Launches Transaction Recording for Aggressive Crackdown on Tax Evaders
Karachi, August 9, 2023 – The Federal Board of Revenue (FBR) has taken a significant step in its pursuit of tax evaders by launching an information portal to record all transactions.
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Non-ATL Property Buyers to Face 250% Higher Income Tax in FY 2023-24
Karachi, August 8, 2023 – The non-ATL buyers of immoveable property will face 250 percent higher tax during fiscal year 2023-24, according to the Federal Board of Revenue (FBR).
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ATL Broadens to 4.32 Million
Pakistan’s Active Taxpayers List (ATL) has seen a significant increase, reaching 4.32 million, owing to measures that compelled non-compliant individuals and businesses to join the documentation system.
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Latest Tax Rates for Electricity Consumption in FY 2023-24
Karachi, August 6, 2023 – The Federal Board of Revenue (FBR) has announced the latest tax rates for electricity consumption for the fiscal year 2023-24.
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FBR Introduces 200% Higher Tax Rates for Non-ATL Motor Vehicle Registration in FY 2023-24
In a move aimed at broadening the tax net and encouraging tax compliance, the Federal Board of Revenue (FBR) has announced a substantial 200 percent increase in tax rates for individuals not appearing on the Active Taxpayers List (ATL) at the time of motor vehicle registration during the fiscal year 2023-24.
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FBR Chairman Constitutes Committee to Address Tax Issues Faced by Karachi Business Community
Karachi, August 4, 2023 – In an effort to expedite the resolution of tax matters affecting the business community in Karachi, the Chairman of the Federal Board of Revenue (FBR), Amjad Zubair Tiwana, announced the formation of a high-powered committee.
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Pakistan Customs Official Awarded Major Penalty for Corruption
Islamabad, August 4, 2023 – In a recent development, an official of Pakistan Customs has been slapped with a major penalty following charges of corruption, misconduct, and inefficiency.
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Badshah Khan Wazir Appointed as FBR’s Member Inland Revenue – Operations
Islamabad, August 3, 2023 – The Federal Board of Revenue (FBR) has announced the appointment of Mir Badshah Khan Wazir as Member Inland Revenue (IR) – Operations, effective immediately.
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