ISLAMABAD, February 16, 2024 – In a recent report, the Federal Tax Ombudsman (FTO) has highlighted significant deficiencies in the Federal Board of Revenue’s (FBR) process of determining fair market property values.
(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.
-
Simplified Tax Return to Benefit 1.4 Million Salaried Persons
KARACHI, February 16, 2024 – In a move to alleviate the burden on salaried individuals and pensioners, the Federal Tax Ombudsman (FTO) has revealed that the newly simplified income tax return form is set to benefit approximately 1.4 million taxpayers.
(more…) -
FBR Appoints 156 BS-16 Officers in Pakistan Customs
Karachi, February 15, 2024 – The Federal Board of Revenue (FBR) has announced the appointment of 156 officers at the BS-16 level in Pakistan Customs, as per an official notification issued recently.
(more…) -
ECC Approves Enhanced 25% Sales Tax Rate on Local Vehicles
Islamabad, February 15, 2024 – The Economic Coordination Committee (ECC) of the Cabinet, during its meeting on Wednesday, gave the nod to an increased sales tax rate of 25 percent on locally assembled vehicles.
(more…) -
Peshawar High Court Declares Section 7E Unconstitutional
Islamabad, February 14, 2024 – The Peshawar High Court (PHC) has struck down Section 7E of the Income Tax Ordinance, 2001, terming it beyond the legislative competence of the Parliament.
(more…) -
Pakistan Sees Surge in Smoking Cessation After Tax Hike – Report
Islamabad, February 14, 2024: A new study by Capital Calling, a prominent Pakistan think tank, reveals a significant drop in cigarette consumption following the government’s implementation of higher taxes on tobacco products.
(more…) -
President Commends FTO for Swift Taxpayer Grievance Resolution
Islamabad, February 14, 2024 – In a commendation of the Federal Tax Ombudsman’s (FTO) commendable efforts, Pakistan’s President Dr. Arif Alvi has lauded the organization for its pivotal role in swiftly addressing taxpayers’ grievances.
(more…) -
Pakistan Customs Classifies Children Scooty with PCT 9503.0010
Karachi, February 13, 2024 – In a recent development, Pakistan Customs has issued a specific classification for children scooties, assigning them the Pakistan Customs Tariff (PCT) Code 9503.0010.
(more…) -
Islamabad Customs to Auction 43 Vehicles on February 15, 2024
Islamabad, February 13, 2024 – The Islamabad Collectorate of Customs has officially declared an upcoming auction for 43 vehicles scheduled to take place on February 15, 2024.
(more…) -
Active Taxpayers of 2022 Given Tax Benefits Until February 29
Karachi, February 12, 2024 – Active taxpayers for the tax year 2022 are granted an extended window to avail themselves of reduced tax rates, with the deadline set for February 29, 2024, announced the Federal Board of Revenue (FBR).
(more…)