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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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 Gets Record 110,000 Active Taxpayers Amid SIM Blocking
Karachi, May 6, 2024 – The Federal Board of Revenue (FBR) has reported a record surge in active taxpayer registrations this week, with 110,000 new sign-ups, bringing the total to 4.18 million for the 2023 tax year.
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FBR to Enforce SIM Blocking of Non-Filers Despite PTA Refusal
In a recent move aimed at increasing tax compliance, the Federal Board of Revenue (FBR) has affirmed its intention to block the mobile phone SIMs of non-filers of income tax returns for the tax year 2023.
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Motor Vehicle Tax Collections Reach Rs 25 Billion in 9MFY24
Islamabad, May 5, 2024 – Pakistan has seen a modest rise in motor vehicle tax collections, reaching Rs 25 billion during the first nine months of fiscal year 2023-24, according to the latest data released by the federal finance ministry.
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PM Shehbaz Sharif Eyes Rs 24 Trillion Tax Revenue Potential
Lahore, May 4, 2024 – Prime Minister Muhammad Shehbaz Sharif on Saturday outlined Pakistan’s potential to substantially boost its tax revenues, stating the country could amass over Rs 24 trillion annually, a stark contrast to the current tax target of Rs 9.4 trillion.
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Controversy Brews Over FBR Plan to Block SIMs of Non-Filers
A contentious proposal by the Federal Board of Revenue (FBR) to block the mobile phone SIMs of tax non-filers has ignited controversy and raised legal challenges after the Pakistan Telecommunication Authority (PTA) rejected the initiative, media reported on Saturday.
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PBC Proposes Elimination of Minimum Tax for Listed Companies
The Pakistan Business Council (PBC) has put forward a significant proposal aimed at boosting economic activity among listed companies by recommending the abolition of the minimum tax.
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FTO Directs FBR for Swift Action Against Fraudulent GDs
Karachi, May 4, 2024 – The Federal Tax Ombudsman (FTO) has mandated an immediate investigation by the Federal Board of Revenue (FBR) into the rampant misuse of Goods Declarations (GD) concerning export consignments processed through Pakistan’s integrated customs platforms, the Pakistan Single Window (PSW) and Web Based One Customs (WeBOC).
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Calls Intensify for FBR to Eliminate CVT on Foreign Assets
In the run-up to the 2024-25 budget, the Federal Board of Revenue (FBR) has been urged to abolish the Capital Value Tax (CVT) on foreign assets to prevent an exodus of business talent and investment from Pakistan.
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President Zardari Enacts Tax Laws Amendment Bill 2024
President Asif Ali Zardari has given his assent to the Tax Laws Amendment Bill 2024, ushering in a series of adjustments aimed at enhancing the effectiveness and fairness of Pakistan’s tax system.
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