Karachi, June 24, 2023: The intelligence and investigation office of the Federal Board of Revenue (FBR) has uncovered a significant case of sales tax evasion by battery manufacturers.
(more…)Author: Shahnawaz Akhter
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Pakistan Withdraws Ban on Import Payments
Karachi, June 23, 2023 – In a significant move aimed at bolstering its economy, Pakistan has officially withdrawn the ban on payments for the import of goods.
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IR Intelligence Launches Extensive Crackdown Against Fashion Designers for Tax Evasion
Karachi, June 23, 2023 – The Directorate of Intelligence and Investigation (Inland Revenue) – I&I IR, Karachi has intensified its efforts to combat the issuance of fake and flying sales tax invoices by the fashion designers.
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Pakistan’s Foreign Exchange Reserves Plunge by $514 Million, Raising Concerns
Karachi, June 22, 2023 – Pakistan’s foreign exchange reserves have experienced a significant decline, dropping by $514 million over the past week, according to the State Bank of Pakistan (SBP).
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Ishaq Dar Assures FPCCI of Resolving Anomalies in Budget 2023-24
Karachi, June 22, 2023 – Finance Minister Ishaq Dar has assured the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex trade body of Pakistan, that anomalies in the budget for the fiscal year 2023-24 will be addressed, according to a statement released on Thursday.
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Cotton Prices Experience Steep Decline due to Taxation and Subsidy Removal
Karachi, June 22, 2023 – Cotton prices in Pakistan have undergone a significant decline, attributed to high taxation and the removal of energy subsidies, industry sources revealed on Thursday.
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FBR Launches Draft Income Tax Return Forms for Year 2023
ISLAMABAD: The Federal Board of Revenue (FBR) has taken a significant step towards facilitating taxpayers by launching the draft income tax return forms for the tax year 2023.
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Possibility of Deadline Extension for Exchanging Bearer Prize Bonds beyond June 30
Karachi, June 20, 2023: The government of Pakistan is considering extending the deadline for exchanging bearer prize bonds beyond June 30, 2023, as the last two days of the deadline coincide with public holidays.
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Pakistan’s Current Account Deficit Shrinks by 81% in 11MFY23
KARACHI: Pakistan’s current account deficit witnessed a significant reduction of 81 percent during the first eleven months (July – May) of the fiscal year 2022-23, compared to the same period in the previous fiscal year.
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Number of Active Taxpayers in Pakistan Reaches 3.94 Million
Islamabad, June 19, 2023 – Recent data released on Monday highlights a significant increase in the number of active taxpayers in Pakistan, reaching 3.94 million.
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