Karachi, January 17, 2024 – Pakistan has taken a significant step to boost its economy by announcing a tax amnesty for certain foreign currency transactions during 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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FTO Exposes Flaws in Valuation of Immovable Properties
Karachi, January 16, 2024 – The Federal Tax Ombudsman (FTO) has unearthed significant flaws in the valuation of immovable properties across Pakistan, revealing a lack of attention from the Federal Board of Revenue (FBR) and incompetence that has left the field vulnerable to the discretion of provincial and FBR’s field staff.
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Islamabad Customs Auctions Confiscated Vehicles on January 18
Islamabad, January 16, 2024 – The Islamabad Collectorate of Customs has declared an auction of confiscated vehicles scheduled to take place on January 18, 2024.
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FBR Imposes Strict Penalties for Smuggling in 2024
Karachi, January 16, 2024 – In a bid to curb the menace of smuggling, the Federal Board of Revenue (FBR) has announced a series of harsh penalties for individuals involved in the illegal transportation of goods, including essential commodities, into or out of Pakistan.
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Pakistan Reduces Tax Liability for Women Entrepreneurs
Karachi, January 16, 2024 – In a progressive move, Pakistan has taken a significant step to empower women entrepreneurs by reducing tax liability under the category of income from business.
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FBR Rationalizes Negative List to Boost Export Sectors
Islamabad, January 16, 2024 – The Federal Board of Revenue (FBR) has announced the rationalization of the negative list for sales tax input adjustment, paving the way for a more favorable business environment for five leading export-oriented sectors in Pakistan.
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FBR Initiates Domicile Verification of Balochistan Employees
Karachi, January 15, 2024 – The Federal Board of Revenue (FBR) has embarked on a comprehensive verification process of the domiciles of its employees hailing from the province of Balochistan.
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Peshawar Customs Intelligence to Auction Vehicles on Jan 17
Islamabad, January 15, 2024 – The Directorate of Customs Intelligence and Investigation has announced an auction of confiscated vehicles scheduled for January 17, 2024.
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Pakistan Achieves Record 5.5 Million Taxpayers on ATL
Karachi, January 15, 2024 – In a landmark achievement, Pakistan has hit a historic high with 5.5 million taxpayers listed on the Active Taxpayers List (ATL), as disclosed by the Federal Board of Revenue (FBR) in its release on Monday.
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FTO Investigates Bribery by FBR Officials Targeting Fish Exporters
Islamabad, January 15, 2024 – The Federal Tax Ombudsman (FTO) has launched an investigation into allegations of bribery by officials of the Federal Board of Revenue (FBR) targeting fish exporters.
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