Islamabad, July 5, 2024 – Prime Minister Shehbaz Sharif, emphasizing the government’s priority of digitizing the taxation system to prevent tax evasion worth billions of rupees, directed the concerned authorities on Friday to promptly establish a dashboard to monitor the ongoing digitization and the implementation of reforms.
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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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Pakistan Customs Gets Teeth to Fight Money Laundering in Trade
Karachi, July 5, 2024 – Pakistan is taking a significant step towards combating money laundering in foreign trade with the establishment of a new directorate within the Pakistan Customs department.
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Finance Act, 2024: Intelligence Bureau to Assist Pakistan Customs
Karachi, July 5, 2024 – The Finance Act, 2024, has empowered the officers of Pakistan Customs to seek assistance from the Intelligence Bureau (IB) for resolving particular cases.
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FBR Announces Major Reshuffle of 51 Senior Customs Officers
Karachi, July 4, 2024 – In a significant administrative move, the Federal Board of Revenue (FBR) of Pakistan has announced a comprehensive reshuffle affecting 51 senior officers within the Pakistan Customs Service (PCS).
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KTBA Flags Technical Issue Post SRO 350 for Sales Tax Returns
Karachi, July 4, 2024 – The Karachi Tax Bar Association (KTBA) has identified a critical impediment affecting taxpayers’ ability to submit their final sales tax returns following the issuance of SRO 350.
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FBR Makes Batch of 27 BS-20 Officers as OSD
Karachi, July 4, 2024 – In a sweeping move aimed at cleansing its ranks of alleged incompetence and corruption, the Federal Board of Revenue (FBR) has relegated a cohort of 27 officers to Officer on Special Duty (OSD) status.
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SRB Introduces 3% Sales Tax for Hospital Rooms and Beds
Karachi, July 3, 2024 – The Sindh Revenue Board (SRB) has implemented a reduced rate of 3% sales tax on services provided by hospitals for rooms and beds, effective from July 1, 2024.
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Finance Act, 2024: Rs100M Penalty for Failure in ITGO Compliance
Karachi, July 3, 2024 – The Finance Act, 2024, has introduced significant penalties for utility providers failing to comply with the Income Tax General Order (ITGO). The government has recommended a penalty of up to Rs 100 million for non-compliance.
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Motor Vehicle Tax Rates Updated by Sindh Finance Act 2024
Karachi, July 3, 2024 – The Sindh government has issued updated motor vehicle tax rates under the Sindh Finance Act, 2024. These new rates, applicable from July 1, 2024, aim to standardize the tax regime for both imported and locally manufactured vehicles, reflecting the government’s strategy to balance revenue generation with promoting local automotive industries.
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Sindh Implements Standard Sales Tax Rate at 15%
Karachi, July 2, 2024 – The Sindh government has officially increased the standard rate of sales tax on services from 13% to 15%, effective from July 1, 2024. This change, outlined in the provincial budget for 2024-25, marks a significant adjustment in the province’s tax regime.
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