Karachi, May 8, 2024 – The Federal Board of Revenue (FBR) has amended the requirements for submitting balance sheets along with monthly sales tax returns.
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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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Key Changes to Income Tax Ordinance through New Laws 2024
The Income Tax Ordinance, 2001 has undergone significant revisions through the enactment of new Tax Laws (Amendment) Act, 2024.
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FBR Mandates Asset Declaration for Customs Officers Promotions
Karachi, May 7, 2024 – The Federal Board of Revenue (FBR) issued a directive on Tuesday requiring all BS-17 officers in the Pakistan Customs Service (PCS) to submit their asset declarations ahead of pivotal promotion decisions.
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Thousands of Cases Stuck Amid Missing Rules for New Tax Laws
As the government rolled out the Tax Laws (Amendment) Act, 2024, thousands of tax cases have been bottlenecked at various tribunals, casting a shadow over the efficacy of the new legislative framework.
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PTCL Battles Extensive Tax Contingencies into 2024
Karachi, May 7, 2024 – Pakistan Telecommunication Company Limited (PTCL) has unveiled a comprehensive report on its tax contingencies for the fiscal year ending December 31, 2023.
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CMOs Push Back Against SIM Block Directive for Tax Non-Filers
In a recent turn of events that has the telecom industry at odds with the Federal Board of Revenue (FBR), Cellular Mobile Operators (CMOs) in Pakistan have voiced significant apprehensions regarding the FBR’s directive to block SIM cards of tax non-filers.
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FBR Initiates Comprehensive HR Audit in Pakistan Customs
Karachi, May 7, 2024 – The Federal Board of Revenue (FBR) has directed all Pakistan Customs stations to furnish comprehensive details of their workforce.
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FBR Announces Key Team for Digital Transformation of Tax System
Islamabad, May 7, 2024 – The Federal Board of Revenue (FBR) has announced the formation of a project management team tasked with overseeing the digitalization of Pakistan’s tax system.
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Pakistan Business Council Seeks Clarity on Group Taxation
Karachi, May 6, 2024 – The Pakistan Business Council (PBC), a leading advocacy group representing major businesses in the country, has submitted proposals for the upcoming budget 2024-25. A key area of focus for the PBC is seeking amendments to the existing group taxation regulations to provide clarity and relief regarding inter-corporate dividends (ICD).
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PTBA Demands Release of Draft Tax Return Forms for 2024
Karachi, May 6, 2024 – The Pakistan Tax Bar Association (PTBA) has officially called upon the Finance Minister, Muhammad Aurangzeb, to expedite the issuance of the draft tax return forms for the tax year 2024.
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