The Federal Board of Revenue (FBR) has opened its online portal for filing annual income tax returns for the tax year 2024. As the deadline approaches, taxpayers must be aware of the necessary documents to avoid penalties.
The labyrinthine world of tax litigation in Pakistan has long been a subject of acute professional scrutiny and debate. The introduction of the Tax Laws (Amendment) Bill, 2024, by the Pakistani Parliament ostensibly seeks to expedite the resolution of a staggering Rs 2.7 trillion currently mired in the quagmire of income tax tribunals and higher […]
In Pakistan, taxpayers are currently fervently seeking inclusion in the recently unveiled Active Taxpayers List (ATL) to shield themselves from the stringent measures enforced by the Federal Board of Revenue (FBR).
In 2024, Pakistan has taken significant strides in facilitating the process of importing cars for overseas Pakistanis through the implementation of the Import Policy Order 2022.
Reforming state institutions, particularly those responsible for revenue collection, is a delicate task that demands a nuanced understanding of their functions, challenges, and potential for improvement. In Pakistan, the ongoing changes within the Federal Board of Revenue (FBR) have triggered intense debate, with the proposed separation of the Customs and IRS emerging as a particularly […]
According to the international research institute Ipsos, Pakistan’s pace of socio-economic development can be significantly enhanced by reducing the loss to the national exchequer through the curbing of illicit trade.
Making ends meet with rising inflation has become almost impossible for the people, especially the vulnerable society, as the prices of daily use items have reached alarmingly high levels.
Textile, being one of the major components of the Pakistan economy, makes up around 8.5 per cent of GDP and contribute around 60 per cent to the country’s total exports.
In a recent development, an inquiry committee appointed by former Prime Minister Shahbaz Sharif to oversee the implementation of the Track and Trace System (TTS) has unveiled critical shortcomings in the system’s effectiveness, particularly in four major sectors: sugar, cement, fertilizer, and tobacco.
Karachi, September 16, 2023 – Pakistan non-elected caretaker government has scored a hat-trick by announcing yet another massive hike in petroleum prices. These successive increases come despite growing concerns and protests from the nation, as the government appears to disregard the economic hardships faced by its citizens.