Karachi, January 20, 2024 – In a bid to generate additional tax revenue, Pakistan is gearing up to implement increased tax rates, as outlined in the country report on Pakistan issued by the International Monetary Fund (IMF) on Friday.
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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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Pakistan Customs Implements Penalties for Illegal Goods Removal
Karachi, January 19, 2024 – In a bid to curb illicit activities related to goods landing on Pakistani soil, Pakistan Customs has introduced strict penalties for the unauthorized removal or concealment of goods before customs clearance.
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FBR Unveils Tax Rules on Insurance in Pakistan for 2024
Karachi, January 19, 2024 – The Federal Board of Revenue (FBR) in Pakistan has recently released the updated Income Tax Ordinance for the tax year 2024, shedding light on the tax rules applicable to the insurance industry.
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SRB Unveils Sales Tax Rates for Hotel Services in 2024
Karachi, January 18, 2024 – The Sindh Revenue Board (SRB) has taken a significant step in providing clarity to businesses and consumers by releasing the sales tax rates for services offered by hotels, restaurants, and similar establishments for the tax year 2024.
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Pakistan Customs to Immediately Confiscate Smuggled Currency
Karachi, January 18, 2024 – Pakistan Customs has ramped up its efforts to combat smuggling by announcing that it will now instantly confiscate currency, gold, or precious stones upon their discovery during anti-smuggling operations.
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FBR Announces Depreciation Rates for Tax Year 2024
Karachi, January 18, 2024 – In a move aimed at facilitating businesses and promoting transparency, the Federal Board of Revenue (FBR) has officially notified the depreciation rates for the Tax Year 2024.
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LHC Directs FBR to Halt Forceful Tax Recovery
Islamabad, January 18, 2024 – The Lahore High Court (LHC) has issued a landmark directive to the Federal Board of Revenue (FBR), instructing them to caution taxation officers against forceful tax recovery measures that infringe upon the fundamental rights of taxpayers.
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FBR Dismisses Reports of IRS Officers’ Protest
Islamabad, January 17, 2024 – The Federal Board of Revenue (FBR) issued a statement on Wednesday refuting news reports circulating in certain media sections regarding a planned protest by IRS officers.
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Sindh Announces Sales Tax Rates on Telecom Services for 2024
Karachi, January 17, 2024 – The Sindh government has released the sales tax rates on telecom services for the tax year 2024, applicable across the province.
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FBR Specifies Death Penalty for Narcotics Smuggling
Karachi, January 17, 2024 – The Federal Board of Revenue (FBR) in Pakistan has updated the Customs Act, 1969, for the tax year 2024, specifying severe penalties, including the possibility of the death penalty, for those involved in smuggling of narcotics.
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