Karachi, November 25, 2023 – The caretaker government finds itself in a challenging situation following the recent announcement of a windfall tax on banks, as the amendment necessitates approval from the National Assembly.
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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 Announces Relaxation Period for Afghan Transit Goods Amid New Security Measures
Karachi, November 25, 2023 – Pakistan has declared a relaxation period for Afghan transit goods, alleviating some of the conditions previously imposed, including the requirement for bank guarantees.
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Tax Collection from Dividend Surges 32% in First Four Months of Fiscal Year 2023-24
Karachi, November 24, 2023 – The withholding tax collection from dividend income has experienced a remarkable increase of 32 percent during the initial four months (July – October) of the fiscal year 2023-24, according to provisional data from the Large Taxpayers Office (LTO) in Karachi.
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Pakistan Develops New Documentation Law to Bring Wholesalers and Retailers in Tax Net
Islamabad, November 24, 2023 –Pakistan has developed a new documentation law aimed at bringing wholesalers and retailers under the tax net.
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Sindh Revenue Board Cracks Down on Leading Restaurant Chain for POS Integration Violations
Karachi, November 23, 2023 – The Sindh Revenue Board (SRB) sealed two branches of the renowned M/s. Red Apple restaurant on Thursday for non-compliance with the mandatory requirement of point-of-sale (POS) integration.
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KCCI Urges Immediate Rectification of Technical Glitches Affecting Sales Tax Return Filings
Karachi, November 23, 2023 – The Karachi Chamber of Commerce and Industry (KCCI) has brought to light a series of technical errors that have impeded the filing of monthly sales tax returns.
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Banks May Seek Legal Remedy Against Newly Imposed Windfall Tax
Karachi, November 23, 2023 – Banks in Pakistan likely to seek legal remedies in response to the recent imposition of a tax on windfall income or profit.
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