Karachi, August 28, 2024 – The Karachi Tax Bar Association (KTBA) has brought attention to the tax challenges faced by Pakistan’s pharmaceutical sector following recent changes in sales tax regulations.
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Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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FBR Issues Guidelines on Property Income Tax for TY 2024-25
Karachi, August 28, 2024 – The Federal Board of Revenue (FBR) has provided a comprehensive explanation of the tax implications on income derived from property for the tax year 2024-25.
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FBR Debunks Rumors of Amnesty for Smuggled Vehicles
Islamabad, August 27, 2024 – The Federal Board of Revenue (FBR) has firmly denied reports circulating in the media regarding an amnesty scheme for smuggled vehicles.
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Value of Perquisites Chargeable to Tax Under Salary Income
Karachi, August 27, 2024 – The Federal Board of Revenue (FBR) has announced that the value of perquisites will be chargeable to tax under the head of salary income for the tax year 2024-25. According to the updated Income Tax Ordinance, 2001, released up to June 30, 2024, several provisions have been clarified concerning the chargeability of various perquisites provided to employees by their employers.
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KTBA Urges Filing Deadline Extension Due to SRO 350 Aftermath
Karachi – The Karachi Tax Bar Association (KTBA) has called upon the Federal Board of Revenue (FBR) to extend the deadline for filing sales tax returns, citing significant challenges posed by the recent implementation of SRO 350(I)/2024.
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FBR Suspends Customs Officer for Choice Posting Pressure
KARACHI, August 27, 2024: The Federal Board of Revenue (FBR) has suspended Jawad-ul-Hassan, a BS-18 officer of the Pakistan Customs Service (PCS), for 120 days due to alleged misconduct involving pressuring authorities for a preferred posting.
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FBR to Amend SRO 1064: A Win for Traders
MULTAN: The Federal Board of Revenue (FBR) will revise SRO 1064 of the Tajir Dost Scheme, considering the demands and concerns of traders, according to Naeem Mir, Chief Coordinator of the scheme.
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PTBA Suggests Measures for Efficient ATIR Operations
Karachi, August 26, 2024 – The Pakistan Tax Bar Association (PTBA) has proposed several measures to enhance the operational efficiency of the Appellate Tribunal Inland Revenue (ATIR).
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FBR Unveils Tax Guidelines for Salary Income in 2024-25
Karachi, August 26, 2024 – The Federal Board of Revenue (FBR) has issued a detailed explanation regarding the taxable salary income for the tax year 2024-25, according to the Income Tax Ordinance, 2001, updated until June 30, 2024.
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FBR Issues SRO 1290/2024 to Streamline Tax Dispute for SOEs
Islamabad, August 25, 2024 – The Federal Board of Revenue (FBR) has issued a draft Statutory Regulatory Order (SRO) 1290(I)/2024 on August 24, 2024, aimed at resolving tax disputes involving state-owned enterprises (SEOs) through Alternate Dispute Resolution Committees (ADRCs).
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