Karachi, December 20, 2024 – The Pakistan Tax Bar Association (PTBA) has raised critical concerns over the utilization of taxpayer funds, particularly for foreign trips and inflated government salaries. This pressing issue was articulated in a formal letter addressed to Syed Naveed Qamar, Chairman of the Standing Committee on Finance and Revenue, National Assembly.
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Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.
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FBR Issues Work Schedule on Holidays for Tax Offices
Islamabad, December 20, 2024 – The Federal Board of Revenue (FBR) announced an extended work schedule for its tax offices during upcoming weekends in December 2024 to ensure smooth collection of duties and taxes.
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Proposed Tax Amendments to Bolster Cash Economy: Experts
Karachi, December 20, 2024 – Leading tax experts have expressed grave concerns over the proposed amendments to tax laws, warning that these measures could unintentionally drive a significant shift towards a cash-based economy.
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Pakistan Prohibits Bank Cash Withdrawals for Tax Dodgers
Karachi, December 19, 2024 – Pakistan has decided to implement stringent measures to curb tax evasion by prohibiting bank cash withdrawals for individuals who evade taxes.
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Tax Laws (Amendment) Bill, 2024: No Input Tax Adjustment
Karachi, December 18, 2024 – Registered taxpayers in Pakistan may face significant challenges as the federal government has proposed the removal of input tax adjustment for supplies made to unregistered persons. The amendment, introduced as part of the Tax Laws (Amendment) Bill, 2024, seeks to tighten compliance and broaden the tax net under the Sales Tax Act, 1990.
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Pakistan Proposes Harsh Actions for Sales Tax Registration Failure
Karachi, December 18, 2024 – The government of Pakistan has introduced stringent measures to enforce compliance with the Sales Tax Act, 1990. Aimed at broadening the tax net, these measures target individuals and entities who fail to obtain mandatory registration. The proposed amendments, introduced as part of the Tax Laws (Amendment) Bill, 2024, include the addition of Section 14AE to the Sales Tax Act.
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Tax Laws (Amendment) Bill, 2024: Property Transfer Restriction
Karachi, December 18, 2024 – In a step toward enhancing tax compliance, the federal government has proposed restrictions on the transfer of immovable property for individuals or entities failing to register under the Sales Tax Act, 1990.
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Tax Laws (Amendment) Bill, 2024: Bar on Bank Account Operations
Karachi, December 18, 2024 – In a development aimed at tightening tax compliance, the federal government has proposed a key amendment to the Sales Tax Act of 1990. The government tabled the Tax Laws (Amendment) Bill, 2024 in the National Assembly on Wednesday, which introduces Section 14AC to the Sales Tax Act. The proposed section grants the Commissioner the authority to bar the operations of bank accounts for individuals or entities that fail to register for tax purposes.
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FBR Set to Ban Cash Withdrawals by Non-Filers
Karachi, December 18, 2024 – The Federal Board of Revenue (FBR) is poised to introduce a significant change in the banking sector with the potential imposition of a ban on cash withdrawals by individuals who are non-filers of income tax returns.
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FBR Halts Issuance of NOC for Specialized Trusts
Karachi, December 18, 2024 – The Federal Board of Revenue (FBR) has officially ceased the issuance of No Objection Certificates (NOCs) for the registration of specialized trusts, including Employees Provident Funds, Gratuity Funds, and Superannuation Funds.
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