The Inland Revenue Service (IRS) Officers Association is gearing up for its highly anticipated election, scheduled for Sunday, May 26, and Monday, May 27.
(more…)Category: Taxation
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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KCCI Suggests Adjusting Refunds against Sales Tax Liability
Karachi, May 18, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has proposed that the Federal Board of Revenue (FBR) permit the adjustment of sales tax refunds against sales tax liabilities to address significant delays in payments.
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FBR Establishes Joint Working Group for Phone SIM Blocking
Islamabad, May 17, 2024 – The Federal Board of Revenue (FBR) has announced the formation of a joint working group tasked with enforcing the blocking of mobile phone SIMs belonging to non-filers of income tax returns.
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FBR Engages Traders to Address Concerns on Tajir Dost Scheme
Islamabad, May 17, 2024 – The Federal Board of Revenue (FBR) took proactive steps on Friday by convening a crucial meeting with representatives from various trade unions across the country to address concerns raised by the trade and business community regarding the implementation of the Tajir Dost Scheme.
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PIC Directs FBR to Disclose Information on Tax Evasion
The Pakistan Information Commission (PIC) has directed the Federal Board of Revenue (FBR) to disclose detailed information regarding tax evasion investigations involving prominent enterprises.
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FTO Finds Maladministration by Commissioner IR RTO-II Karachi
Karachi, May 17, 2024 – The Federal Tax Ombudsman (FTO) has uncovered significant maladministration by the Commissioner of Inland Revenue (IR) of Regional Tax Office (RTO)-II Karachi.
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Karachi Chamber Advocates for Restricting Super Tax Scope
The Karachi Chamber of Commerce and Industry (KCCI) has put forth a recommendation to limit the scope of super tax implementation in the upcoming budget for 2024-25.
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Bakhtiar Muhammad Appointed as Official Spokesperson for FBR
Islamabad, May 16, 2024 – The Federal Board of Revenue (FBR) on Thursday announced the appointment of Bakhtiar Muhammad, a senior BS-21 officer of the Inland Revenue Service, as its official spokesperson, effective immediately.
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KCCI Submits Taxation Plan for Cryptocurrency Income in Pakistan
The Karachi Chamber of Commerce and Industry (KCCI) has proposed a comprehensive plan to tax income derived from cryptocurrency transactions within Pakistan’s jurisdiction, marking a significant step towards regulating the burgeoning digital asset market in the country.
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Aurangzeb Confirms Tax Exemption for FATA, PATA Ends June 30
Federal Minister for Finance Senator Muhammad Aurangzeb disclosed to the National Assembly on Thursday that there are no plans for new legislation to extend tax and duty exemptions for the erstwhile Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA) regions.
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