Karachi, July 23, 2024 – The Sindh Revenue Board (SRB) has issued a clarification today, dispelling rumors about the withdrawal of the reduced 8% sales tax rate for restaurant services paid through digital channels.
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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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Sindh Grants Conditional Sales Tax Exemption to Beauty Parlors
Karachi, July 23, 2024 – The Sindh government has announced a conditional sales tax exemption for services provided by beauty parlors and beauty clinics, according to the Sindh Revenue Board (SRB).
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SRB Notifies Sales Tax Rates for Property Services in TY2025
Karachi, July 23, 2024 – The Sindh Revenue Board (SRB) has notified new sales tax rates for services related to immovable property for the tax year 2024-25.
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FBR Releases Tax Valuation Tables for Shopkeepers in 42 Cities
Islamabad, July 22, 2024 – The Federal Board of Revenue (FBR) on Monday released valuation tables for the collection of income tax from shopkeepers and retailers located in 42 major cities of Pakistan.
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Sindh Imposes 15% Sales Tax on Travel Agents, Tour Operators
Karachi, July 22, 2024 – The Sindh government has announced a 15% sales tax on services provided by travel agents and tour operators for the tax year 2024-25. This decision, formalized through the provincial Finance Act, 2024, marks an increase in the sales tax rates for these services.
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SRB Notifies Tax Rates for Advertisement Services in TY2025
Karachi, July 22, 2024 – The Sindh Revenue Board (SRB) has announced new sales tax rates for advertisement services for the tax year 2024-25. The rates were issued following amendments made through the provincial Finance Act, 2024.
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What Documents Are Required for Return Filing in 2024?
The Federal Board of Revenue (FBR) has opened its online portal for filing annual income tax returns for the tax year 2024. As the deadline approaches, taxpayers must be aware of the necessary documents to avoid penalties.
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NCCPL Notifies CGT Rates Updated Through Finance Act 2024
Karachi, July 21, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has announced updated capital gains tax (CGT) rates as mandated by the Finance Act, 2024. The NCCPL, which collects taxes on behalf of the Federal Board of Revenue (FBR), has outlined the new rates applicable from July 1, 2024, for income generated within Pakistan’s capital markets.
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FBR Aims to Boost Tax-to-GDP Ratio to 11.50% in Three Years
Karachi, July 21, 2024 – The Federal Board of Revenue (FBR) has set an ambitious target to elevate Pakistan’s tax-to-GDP ratio to 11.50 percent within the next three years. This initiative aims to significantly improve from the current 8.73 percent recorded for the fiscal year 2023-24.
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FBR Adopts AI as Key Tool to Detect Tax Non-Compliance
Karachi, July 21, 2024 – The Federal Board of Revenue (FBR) has adopted artificial intelligence (AI) as a pivotal tool to detect non-compliance in the country’s tax system, according to official sources.
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