Karachi, March 28, 2024 – In a historic milestone for the Federal Board of Revenue (FBR), the Large Taxpayers Office (LTO) Karachi made biggest-ever tax recovery, amounting to approximately Rs 13 billion, from a taxpayer for defaulting on advance tax payments.
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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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Pakistan Customs Sets Duty on Multi-Vitamins and Supplements
Islamabad, March 28, 2024 – Pakistan Customs has made a decisive ruling regarding the classification of duties on imported multi-vitamins, natural health products, and food supplements.
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FBR Declares Full Weekend Revenue Operations for March
Karachi, March 27, 2024 – In a move aimed at bolstering revenue collection efforts, the Federal Board of Revenue (FBR) has declared full working days during the last weekend of March 2024, suspending the usual observance of weekly holidays.
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Siddiqsons Chairman Honored as 4th Highest Taxpayer
Prime Minister Shehbaz Sharif recently presided over a ceremony at the PM Office, where awards were conferred upon 65 leading exporters and compliant taxpayers. Among the distinguished recipients, Tariq Rafi, Chairman of Siddiqsons Group, was notably recognized as the 4th highest taxpayer by the Prime Minister.
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PTC Recognized as Top Taxpaying Entity
The Government of Pakistan has bestowed the Pakistan Tobacco Company Limited (PTC) with an esteemed honor for its remarkable contribution as one of the country’s highest taxpaying entities.
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Pakistan Announces Honor Card for Top Taxpayers
In a bid to acknowledge and reward the contribution of top taxpayers towards the economic development of the country, Prime Minister Shehbaz Sharif of Pakistan has unveiled a groundbreaking initiative – the Honor Card for Top Taxpayers.
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FLYING INVOICES: LTO Karachi Unearths Rs 5 Billion Tax Evasion
Karachi, March 26, 2024 – The Large Taxpayers Office (LTO) Karachi has uncovered a staggering sales tax evasion scheme, amounting to a loss of Rs 5 billion to the national treasury through the issuance of fake and flying invoices.
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PM Shehbaz Orders Full Tax Track and Trace Implementation
In a significant move aimed at bolstering tax compliance and curbing illicit activities in various sectors, Prime Minister Shehbaz Sharif has directed the elimination of all legal impediments obstructing the complete activation of the tax track and trace system.
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FBR Transfers 34 Customs Officers in Major Shakeup
In a significant administrative shakeup, the Federal Board of Revenue (FBR) has announced the transfer and appointment of 34 senior customs officers across various positions.
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FBR Records 0.4 Million New Active Taxpayers in March 2024
Karachi, March 25, 2024 – The Federal Board of Revenue (FBR) has announced a significant milestone with the addition of 400,000 new active taxpayers in March 2024.
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