Karachi, February 27, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has urged its members to actively participate in discussions regarding SRO 55 by submitting their recommendations.
(more…)Category: Taxation
Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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Capital Gain Tax Collection Surges 82% in 7MFY25
Karachi, February 27, 2025 – The collection of capital gain tax has witnessed an extraordinary surge of 82% during the first seven months (July – January) of the fiscal year 2024-25, according to provisional data from the Federal Board of Revenue (FBR).
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RTO-I Karachi Seals Medical Store in Clifton for POS Violation
Karachi, February 26, 2025 – In a decisive move against businesses failing to adhere to federal tax regulations, RTO-I Karachi has sealed a prominent medical store located in the upscale Clifton area.
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Pakistan Customs Issues Fresh Valuation for Ceramic Tiles
Karachi, February 26, 2025 – Pakistan Customs has issued a new valuation ruling for ceramic and porcelain tiles to determine the applicable duties and taxes on imported consignments.
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FPCCI Submits Key Sales Tax Proposals for Budget 2025-26
Karachi, February 26, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has formally presented key sales tax proposals for the upcoming Budget 2025-26.
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UBL Engages in Legal Tax Dispute with FBR
Karachi, February 26, 2025 – United Bank Limited (UBL) has disclosed an ongoing legal dispute with the Federal Board of Revenue (FBR) over tax-related matters.
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PTBA Highlights Taxpayer Hardships in Complying Tax Statutes
Karachi, February 25, 2025 – The Pakistan Tax Bar Association (PTBA) has raised concerns regarding the difficulties taxpayers face in complying with various tax statutes.
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FBR Introduces Automated System for Unregistered Supplies
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has taken a significant step towards improving tax compliance by developing an automated system for handling adjustments of unregistered supplies through credit notes.
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FBR Penalizes IRS BS-20 Officer, Stops Promotion for Two Years
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has taken disciplinary action against a senior Inland Revenue Service (IRS) officer, imposing a penalty and halting his promotion for two years due to charges of misconduct and inefficiency.
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FTO Uncovers Rs 9.38 Billion Annual Electricity Tax Loss
Karachi, February 25, 2025 – The Federal Tax Ombudsman (FTO) has identified a staggering annual revenue loss of Rs 9.38 billion to the Federal Board of Revenue (FBR) due to discrepancies in the collection of electricity tax across the country.
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