Karachi, August 3, 2023 – The Federal Board of Revenue (FBR) in Pakistan has issued an official notification revealing the tax rates on bank deposits and national savings schemes under Section 151 of the Income Tax Ordinance, 2001.
(more…)Author: Shahnawaz Akhter
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Pakistan Imposes Up to 70% Tax on Dividend Income for Non-ATL Recipients
Karachi, August 3, 2023 – Pakistan Federal Board of Revenue (FBR) has implemented a new tax regime for the fiscal year 2023-24, which includes significant changes in the tax rates on dividend income.
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FBR Unveils Withholding Tax Rates During 2023-24 for ATL and Non-ATL Importers
Karachi, August 2, 2023 – The Federal Board of Revenue (FBR) has released the withholding tax rates for the import of goods during the tax year 2023-24.
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FBR Introduces Tracking and Monitoring of Cargo Rules, 2023 to Enhance Trade Security
Islamabad, August 2, 2023 – In an effort to bolster security and ensure transparency in trade, the Federal Board of Revenue (FBR) of Pakistan has notified the Tracking and Monitoring of Cargo Rules, 2023.
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German Chamber of Commerce to Establish Office in Pakistan
Karachi, August 2, 2023 – In a significant development, H. E. Mr. Rudiger Lotz, Consul General of Germany in Karachi, has announced that the German Chamber of Commerce & Industry (DIHK) is set to establish its office in Pakistan, highlighting the growing importance of trade and economic ties between Germany and Pakistan.
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SBP Bolsters Consumer Protection Efforts with New Departments
Karachi, August 1, 2023 – In a significant move towards safeguarding consumer rights, the State Bank of Pakistan (SBP) has taken proactive steps to enhance consumer protection by restructuring its internal departments.
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Tax Filing Nightmares: KTBA Reveals Critical Errors in 2023 Return Forms
Karachi, August 1, 2023: The Karachi Tax Bar Association (KTBA) on Tuesday brought to light critical errors and mistakes present in the income tax return forms for the tax year 2023.
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Pakistan Extends Interbank Dollar Purchases for Card Payments
Karachi, August 1, 2023 – The State Bank of Pakistan (SBP) announced to extend the settlement of card-based cross-border transactions through interbank for an additional five months.
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From Non-Filers to Active Taxpayers: Pakistan’s ATL Hits 4.26 Million High
Pakistan witnessed significant increase in Active Taxpayers with over 40,000 income tax returns filed in a single week, to high high of 4.26 million.
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SBP Keeps Benchmark Policy Rate Unchanged at 22% Amid Easing Economic Uncertainties
Karachi, July 31, 2023 – The State Bank of Pakistan (SBP) has announced its decision to maintain the benchmark policy rate at 22 percent, citing a decrease in economic uncertainties.
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