Islamabad, September 30, 2024 – In a significant stride towards simplifying Pakistan’s tax compliance regime, the Federal Board of Revenue (FBR) on Monday showcased the much-anticipated Single Sales Tax Return (SSTR) for three pivotal sectors of the economy.
(more…)Category: Taxation
Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
-
FBR Issues Guidelines for Transactions Between Associates
Karachi, September 30, 2024 – The Federal Board of Revenue (FBR) has introduced new guidelines for transactions between associates under the Income Tax Ordinance, 2001. These rules aim to clarify and regulate how income, deductions, and tax credits should be managed between related parties.
(more…) -
NCCPL to Collect August CGT on October 8, 2024
Karachi, September 30, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has announced that the collection of Capital Gain Tax (CGT) for the month of August 2024 will take place on October 8, 2024.
(more…) -
FBR Extends Return Filing Deadline for Tax Year 2024?
As the clock ticks down to the final hours of the income tax filing deadline, a critical question reverberates among Pakistan’s taxpayers: Has the Federal Board of Revenue (FBR) extended the deadline for filing income tax returns for the tax year 2024? With the deadline expiring today, millions of taxpayers remain in limbo, awaiting clarity from the country’s apex tax authority.
(more…) -
Return Filing Deadline Extension: Pressure Mounting on FBR
Karachi, September 29, 2024 – The Federal Board of Revenue (FBR) finds itself under mounting pressure to extend the deadline for filing income tax returns for the tax year 2024. With the September 30 deadline looming, only a single day remains for taxpayers to submit their returns, and complaints of system breakdowns and technical delays are pouring in from across the country.
(more…) -
FBR Issues Tax Guidelines for Permanent Establishment in Pakistan
Karachi, September 29, 2024 – The Federal Board of Revenue (FBR) has introduced new guidelines for the taxation of permanent establishments in Pakistan for the tax year 2024-25. These guidelines, extending the current regulations, govern the taxation of permanent establishments under Section 105 of the Income Tax Ordinance, 2001.
(more…) -
PTBA Urges FBR for Urgent Filing Deadline Extension Amid Chaos
Karachi, September 28, 2024 – The Pakistan Tax Bar Association (PTBA) has issued an urgent plea to the Federal Board of Revenue (FBR), citing the dysfunctional state of the IRIS tax return filing portal.
(more…) -
FBR Urges Citizens to Use IRIS Portal for Tax Information
Islamabad, September 28, 2024 – The Federal Board of Revenue (FBR) has issued a formal advisory urging citizens to access tax-related information through the IRIS tax returns portal rather than relying on the malfunctioning Tax Maloomat system.
(more…) -
FBR to Redefine Non-Filers Amid Sweeping Crackdown
Islamabad, September 28, 2024 – In a decisive move aimed at intensifying its crackdown on tax evasion, the Federal Board of Revenue (FBR) is poised to redefine the term “non-filers” under the Income Tax Ordinance, 2001.
(more…) -
PTBA Calls for Extension, Urges Non-Filers to File Taxes
Karachi, September 27, 2024 – The Pakistan Tax Bar Association (PTBA) has urged the government to extend the deadline for filing income tax returns for the current fiscal year, offering a crucial opportunity for non-filers to comply and become active taxpayers. In a statement released on Friday, the PTBA lauded the government’s recent decision to abolish the non-filer category but emphasized the need for an extension to facilitate this transition.
(more…)