Islamabad, August 14, 2024 – In a move aimed at simplifying tax compliance, the Federal Board of Revenue (FBR) has introduced a streamlined procedure for sales tax registration. This new process is designed to facilitate taxpayers, making it easier and more efficient to register for sales tax using the Iris Portal.
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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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Tax Collection Rise 70% as Electricity Bills Burden Consumers
Karachi, August 14, 2024 – The Federal Board of Revenue (FBR) has reported a remarkable 70% surge in advance tax collection from electricity bills during the fiscal year 2023-24. This increase is largely attributed to the escalating electricity tariffs, which have been a source of concern for both industrial and residential consumers across Pakistan.
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PTBA Raises Alarming Concerns Over ATIR’s Conduct
Karachi, August 13, 2024 – The Pakistan Tax Bar Association (PTBA) has voiced serious concerns regarding the functioning of the Appellate Tribunal Inland Revenue (ATIR), highlighting issues that threaten to undermine the tribunal’s credibility and the broader tax system.
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FBR Unveils Sales Tax Essentials: A Guide for Taxpayers
Islamabad, August 12, 2024 – The Federal Board of Revenue (FBR) has recently released a comprehensive guide explaining the basics of sales tax to help taxpayers navigate the complexities of registration and filing. This initiative aims to ensure that taxpayers have a clear understanding of sales tax laws, thereby facilitating compliance and reducing errors in tax returns.
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MTL Sounds Alarm: Unclear GST Risks Production Shutdown
Karachi, August 12, 2024 – Millat Tractors Limited (MTL) raised a critical red flag on Monday, warning that the ongoing ambiguity in General Sales Tax (GST) regime could compel the company to halt its production activities.
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Small Traders Launch Protest Against Advance Income Tax
Karachi, August 12, 2024 – In a bold move signaling rising discontent among Karachi’s small business community, traders have announced a major protest against the imposition of advance income tax on retail operations.
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FBR Extends Rs 41 Billion Tax Bonanza to Power Sector
Karachi, August 11, 2024 – In a move that is likely to raise eyebrows, the Federal Board of Revenue (FBR) has extended tax concessions worth a staggering Rs 41 billion to the power sector for the tax year 2024.
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FBR Debunks Rumors of Taxing Arshad Nadeem’s Prize Money
Islamabad, August 11, 2024: The Federal Board of Revenue (FBR) has decisively quashed rumors swirling on social media about the alleged taxation of the prize money awarded to Arshad Nadeem, Pakistan’s golden athlete and the gold medalist at the Paris Olympics 2024.
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SHC Upholds FBR’s Transfer Orders: IRS Officers’ Plea Rejected
Karachi, August 10, 2024 – The Sindh High Court (SHC) has delivered a significant ruling by dismissing the petition of 12 senior officials from the Inland Revenue Service (IRS), who had challenged their recent transfers to the Federal Board of Revenue’s (FBR) administrative pool.
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Pakistan Customs Tightens Green Channel Security
Karachi, August 10, 2024 – Pakistan Customs has announced a significant update regarding the Green Channel facility at airports across the country. Authorities now have the right to randomly select passengers using the Green Channel for additional checks, aiming to prevent the misuse of this facility.
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