ISLAMABAD, November 29, 2024 – The Federal Board of Revenue (FBR) has reported that over 1,500 exporters are utilizing the Export Facilitation Scheme (EFS), enabling duty- and tax-free imports into Pakistan.
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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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PTBA Demands Data Sharing on Digital Transformation Progress
Karachi, November 28, 2024 – The Pakistan Tax Bar Association (PTBA) has called on the Federal Board of Revenue (FBR) to share updates on the progress made following its initiatives for documenting the economy and enhancing the tax system’s productivity through digital transformation.
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FBR Withdraws Property Valuation Rebates in Karachi
Karachi, November 28, 2024 – The Federal Board of Revenue (FBR) has clarified that no reductions in property valuations are available under its latest notification for Karachi. The Regional Tax Office (RTO) – 1 Karachi, a key arm of the FBR, issued this clarification in response to doubts raised about Notification No. SRO 1724(I)/2024, dated October 29, 2024, which outlines updated property valuation tables for the city.
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Carpet Manufacturers Seek Urgent Customs Duty Relief
Islamabad, November 28, 2024 – The Pakistan Carpet Manufacturers and Exporters Association (PCMEA) has called for immediate relief from customs duties that are severely hampering the survival and growth of the carpet manufacturing sector.
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FBR Initiates Registration of 1.35 Million Potential Taxpayers
Islamabad – The Federal Board of Revenue (FBR) has embarked on an ambitious initiative to register 1.35 million potential taxpayers identified through third-party data analysis. The FBR has shared this data with Inland Revenue field formations, tasking them with further action to expand the tax base.
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Tax Collection from New Car Registrations Jumps 111% in 4MFY25
Karachi, November 27, 2024 – The Federal Board of Revenue (FBR) has reported a significant increase in tax collection from new car registrations, reflecting a 111% surge in the first four months of the fiscal year 2024-25 (July–October).
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Tax Collection from Cash Withdrawals Drops 21% in October 2024
Islamabad, November 27, 2024 – Tax revenue from cash withdrawals in Pakistan witnessed a sharp decline, plunging 21% year-on-year (YoY) in October 2024.
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Advance Tax Imposed on Foreign Domestic Workers in Pakistan
KARACHI, November 26, 2024 – Pakistan has introduced an advance income tax requirement on individuals and agencies hiring foreign nationals for domestic work.
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Pakistan, World Bank Discuss Tax Policy Framework
Islamabad, November 26, 2024 – Pakistan and the World Bank held discussions on Tuesday to develop a robust and transparent tax policy framework aimed at boosting revenue mobilization, improving compliance, and ensuring equitable taxation.
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FBR Struggles as Political Protests Undermine Revenue Goals
Islamabad, November 26, 2024 – Political instability is posing significant challenges for the Federal Board of Revenue (FBR) in achieving its tax collection target for November 2024, according to sources within the department.
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