PkRevenue.com – The Federal Board of Revenue (FBR) is contemplating a comprehensive overhaul of the taxation system related to property transactions.
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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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FBR Declares NLC Sultanabad Karachi as Customs Port
PkRevenue.com – The Federal Board of Revenue (FBR) has officially designated the Off-Dock Terminal operated by the National Logistics Corporation (NLC) in Sultanabad, Karachi, as a customs port.
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FTO Recommends Simplification of Income Tax Returns
PkRevenue.com – The Federal Tax Ombudsman (FTO) has proposed that tax authorities streamline income tax returns to make it easier for taxpayers to fulfill their civic duties.
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SECP Advocates for Income Tax Credit for Insurance Products
PkRevenue.com – The Securities and Exchange Commission of Pakistan (SECP) has put forward a proposal for the upcoming 2024-25 budget, advocating for the introduction of income tax credits for individuals purchasing insurance products.
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Tax Managers Propose Removal of E&P Depletion Allowance
PkRevenue.com – The tax managers of Federal Board of Revenue (FBR) have recommended a significant policy change that could impact the Exploration and Production (E&P) sector.
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FBR Suggests 100% Increase in Tax on Bonus Shares for Non-ATL
PkRevenue.com – The Federal Board of Revenue (FBR) has proposed a 100 percent increase in tax on bonus shares for individuals who are not listed on the Active Taxpayers List (ATL). The tax managers at the FBR have recommended amendments to the Income Tax Ordinance, 2001, to be implemented in the forthcoming budget for 2024-25.
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Expected Tax Measures in 2024-25 Budget to Raise Rs 600 Billion
PkRevenue.com – Analysts at Topline Securities Limited have projected a series of key tax measures that the government is likely to announce in the 2024-25 budget to generate approximately Rs 600 billion in additional revenue.
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Balochistan High Court Declares Section 7E as Unconstitutional
PkRevenue.com – In a significant ruling, the Balochistan High Court has declared Section 7E of the Income Tax Ordinance 2001, which imposed a tax on immovable properties based on deemed income, as ultra vires to the Constitution.
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FBR Achieves 31% Revenue Collection Growth in 11MFY24
PkRevenue.com – The Federal Board of Revenue (FBR) has recorded an impressive 31 percent growth in revenue collection during the first eleven months (July-May) of the fiscal year 2023-24.
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Turmoil at Tax Offices: FBR Suspends Lahore RTO DC
PkRevenue.com – The Federal Board of Revenue (FBR) has suspended Khurram Fakhar Siddique, Deputy Commissioner (DC) Headquarter, Regional Tax Office (RTO) Lahore.
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