Karachi, June 27, 2024 – The government of Pakistan remains undecided on the implementation of the new normal tax regime for exporters, set to begin on July 1, 2024, amidst considerable opposition from the sector, sources revealed on Thursday.
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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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RTO Hyderabad Clamps Down on Black And Brown Bakers
Hyderabad, June 27, 2024 – The Regional Tax Office (RTO) in Hyderabad has taken decisive action against a renowned bakery chain in the city, sealing two of its branches for non-compliance with integration requirements mandated by the Federal Board of Revenue (FBR).
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Pensioners Avail Rs 41.22 Billion as Tax Exemption Last Year: FBR
Karachi, June 26, 2024 – The Federal Board of Revenue (FBR) has announced that pensioners benefitted from Rs 41.22 billion in income tax exemptions during the last fiscal year.
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FBR Extends Tax Collection Hours Ahead of FY24 Deadline
Islamabad, June 25, 2024 – The Federal Board of Revenue (FBR) has announced special measures for tax collection during the final days of the fiscal year 2023-24, aiming to maximize revenue collection before the financial year concludes on June 30, 2024.
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FBR Unveils Draft Income Tax Return Forms for Tax Year 2024
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) issued draft return forms for the tax year 2024 on Monday, ensuring the timely commencement of the return filing season this year.
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New Property Tax Rates: FBR Explains Benefits of Filing on Time
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the new property tax rates introduced through the Finance Bill 2024.
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FBR Launches Audit of Fertilizer Dealers
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) has initiated a nationwide audit of urea and fertilizer dealers to ensure they accurately report their earnings and pay the appropriate amount of income tax. According to an FBR statement issued on Monday, audit notices have been sent out to 437 cases.
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FBR to Tax Late Filers on Property Deals from July 1
Starting July 1, 2024, the Federal Board of Revenue (FBR) will commence the collection of advance tax on property transactions from late filers after the approval from the parliament. This move aims to tighten tax compliance and discourage the trend of filing tax returns only when engaging in property transactions.
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FBR to Conduct Investigative Sales Tax Audit
Karachi, June 23, 2024 – The Federal Board of Revenue (FBR) is set to conduct investigative audits of sales tax cases starting from the next fiscal year, according to official sources.
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FBR Announces Property Valuation Increase to 90% in July 2024
Islamabad, June 23, 2024 – The Federal Board of Revenue (FBR) has announced a significant adjustment to property valuations in major Pakistani cities. This move, aimed at boosting tax collection, will see property values increase from 75% to 90% of their estimated market rates.
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