Karachi, May 23, 2024 – In a landmark fiscal achievement, the Medium Tax Office (MTO) Karachi has effectuated the recovery of a colossal sum of Rs 607 million in super tax from Maersk, the globally eminent shipping and logistics conglomerate.
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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 Issues List of Unverified Dates of Birth for Customs Officers
Karachi, May 23, 2024 — The Federal Board of Revenue (FBR) on Thursday released a list of customs officers whose dates of birth (DOB) remain unverified in official records.
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ATIR Rules Super Tax Not Payable on FTR Income
Karachi, May 23, 2024 — In a significant ruling, the Appellate Tribunal Inland Revenue (ATIR), Karachi, has determined that super tax is not applicable to income falling under the Final Tax Regime (FTR) for exporters.
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FBR Directs IR Officials to Submit Documents for Age Verification
Islamabad, May 22, 2024 – The Federal Board of Revenue (FBR) has issued a directive on Wednesday, instructing officials of Inland Revenue (IR) to submit attested documents for age verification purposes.
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FBR Issues Instructions on Budget Exercise 2024-25
ISLAMABAD, May 22, 2024 – The Federal Board of Revenue (FBR) issued new instructions on Wednesday related to the budget exercise for 2024-25. The FBR announced that the budget exercise has commenced at its headquarters in Islamabad, and as a result, it has banned the entry of visitors to maintain the security and confidentiality of the process.
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FBR Bans Visitor Entry in HQs Amid Budget Preparation
Islamabad, May 21, 2024 – In a move aimed at maintaining confidentiality and ensuring the smooth preparation of the annual revenue budget for 2024-25, the Federal Board of Revenue (FBR) has imposed a ban on the entry of visitors into its Islamabad headquarters effective immediately.
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FBR Eyes New Real Estate Tax to Generate Rs 500 Billion
Karachi, May 21, 2024 – The Federal Board of Revenue (FBR) is considering imposing a new tax on the real estate sector, aiming to tap into an estimated Rs 500 billion.
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FBR Reports 4.30 Million Active Taxpayers
Karachi, May 20, 2024 – The Federal Board of Revenue (FBR) reported on Monday that the number of active taxpayers for the tax year 2023 has surged to 4.30 million.
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KCCI Seeks Sales Tax Exemption on Gold Import
Karachi, May 20, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the government to grant a sales tax exemption on the import of gold for export purposes.
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PBC Recommends Abolishing Section 8B of Sales Tax Act
Karachi, May 19, 2024 – The Pakistan Business Council (PBC) has proposed the abolition of Section 8B of the Sales Tax Act, 1990, in its budget recommendations for the fiscal year 2024-25.
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