Karachi, July 25, 2024 – The Sindh Revenue Board (SRB) has issued updated sales tax rates for services provided by professionals and consultants for the tax year 2024-25.
(more…)Category: Taxation
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.
-
FBR Unveils Harsh Penalties for Tax Fraud in Latest Reform Blitz
Karachi, July 25, 2024 – The Federal Board of Revenue (FBR) has implemented stringent penalties for sales tax fraud, signaling a robust crackdown on offenders under amended legislation.
(more…) -
FBR Imposes 25% Sales Tax on Imported Mobile Phones
Karachi, July 25, 2024 – The Federal Board of Revenue (FBR) has announced new sales tax rates on imported mobile phones, effective immediately. The revised tax structure, introduced through amendments in the Finance Act of 2024, aims to regulate the import and sale of mobile phones in Pakistan.
(more…) -
FBR Fixes Income Tax Rates for Shops in Lahore Areas
Lahore, July 25, 2024 – The Federal Board of Revenue (FBR) has established fixed income tax rates based on the value of shops located in various areas of Lahore. This move aims to streamline tax collection from shopkeepers and retailers across the city.
(more…) -
LTO Karachi Maintains Supremacy with Rs 2.53 Trillion in FY24
Islamabad, July 24, 2024 – The Large Taxpayers Office (LTO) Karachi has once again asserted its dominance in revenue collection for the Federal Board of Revenue (FBR), amassing a remarkable Rs 2.53 trillion during the fiscal year 2023-24. This substantial contribution underscores LTO Karachi’s pivotal role in bolstering the nation’s fiscal health.
(more…) -
Sindh Releases Tax Card for Banking Services in TY 2025
Karachi, July 24, 2024 – The Sindh Revenue Board (SRB) has unveiled a tax card detailing the sales tax rates on banking services for the tax year 2024-25. This release follows amendments made through the provincial Finance Act, 2024.
(more…) -
SRB Slaps 15% Sales Tax on Insurance Services
Karachi, July 24, 2024 – The Sindh Revenue Board (SRB) has imposed a 15 percent sales tax on insurance services provided within the Sindh province, effective immediately.
(more…) -
Salaried Class Takes to Streets Against Tax Hikes in Pakistan
Karachi – Members of the newly formed Salaried Class Alliance staged a protest in Karachi on Tuesday, July 22, 2024, denouncing the increased tax burden imposed on salaried individuals in the recently unveiled budget.
(more…) -
FBR Unveils Fixed Tax Rates for Karachi Shopkeepers
Karachi, July 23, 2024 – The Federal Board of Revenue (FBR) has announced fixed tax rates for shopkeepers in various areas of Karachi under the Tajir Dost Scheme. The rates were formalized through SRO 1064(I)/2024 issued on July 22, 2024.
(more…) -
FBR Mandates Submission of FY24 Asset Declarations for Officials
Islamabad, July 23, 2024 – The Federal Board of Revenue (FBR) on Tuesday issued a directive requiring all its officers and officials to submit their declarations of assets and liabilities for the fiscal year 2023-24.
(more…)