Karachi, April 24, 2024 – In a significant move aimed at alleviating the concerns of the business sector, Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to defer the implementation of the controversial Statutory Regulatory Order (SRO) 350.
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Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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KPK Introduces Fixed Tax for Lawyers and Customs Agents
In a pivotal move aimed at simplifying the tax system, the Khyber Pakhtunkhwa (KPK) government has announced the implementation of a fixed sales tax on services for lawyers and customs agents.
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PM’s Suspension of Top Tax Officials Stirs Controversy at FBR
In a bold move that has sparked intense debate and concern within the Federal Board of Revenue (FBR), Prime Minister Shehbaz Sharif has suspended several senior officials of the Inland Revenue Service, including the Chief Commissioner of the Large Taxpayers Office (LTO) in Islamabad.
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Finance Minister Commits to Resolve Tajir Dost Scheme Concerns
Islamabad, April 23, 2024 – In a key meeting held on Tuesday, Finance Minister Senator Muhammad Aurangzeb promised to address the concerns of the association of small traders regarding the recently introduced Tajir Dost Scheme.
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FBR and WHO Discuss Tobacco Tax Enforcement in Pakistan
Islamabad, April 23, 2024 – In a significant meeting held at the Federal Board of Revenue (FBR) headquarters on Tuesday, FBR officials and representatives from the World Health Organization (WHO) gathered to discuss the future of tobacco taxation and enforcement in Pakistan.
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FBR Issues Notices to 1,680 Retailers for POS Integration
Islamabad, April 23, 2024 – The Federal Board of Revenue (FBR) took a significant step towards enhancing tax compliance by issuing a directive for the mandatory integration of 1,680 Tier-1 retailers into its Point of Sale (POS) system.
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PM Shehbaz Sharif Suspends FBR Officials Over Tax Case Delays
Islamabad, April 23, 2024 – In a decisive move against bureaucratic inefficiency, Prime Minister Muhammad Shehbaz Sharif has ordered the suspension of the Commissioner of Inland Revenue of Federal Board of Revenue (FBR) Islamabad along with other senior tax officials for their alleged willful delay in handling tax cases.
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FBR Considers Reviving POS Prize Scheme
Karachi, April 23, 2024 – The Federal Board of Revenue (FBR) is contemplating the reintroduction of the prize scheme for invoices issued via Point of Sale (POS) systems to promote better documentation of retail transactions.
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NCCPL to Collect Capital Gains Tax on April 30, 2024
Karachi, April 23, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has confirmed that it will be collecting Capital Gains Tax (CGT) for transactions conducted in March 2024 on the upcoming date of April 30, 2024.
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FBR Gets Proposal to Align Property Valuations with FMV
Karachi, April 23, 2024 – The Federal Board of Revenue (FBR) is reviewing a pivotal proposal from the Pakistan Business Council (PBC) aimed at enhancing property valuations to align closer with the fair market value (FMV).
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