Karachi, February 24, 2024 – In a move aimed at fostering efficiency and enhancing trade facilitation, Pakistan Customs has successfully deployed the Pre-Arrival Clearance module in the Web-Based One Customs (WeBOC) and Pakistan Single Window (PSW) systems.
(more…)Category: Taxation
Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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FBR Seeks New Ideas to Boost Revenue from Undertaxed Sectors
Karachi, February 24, 2024 – In a bid to enhance revenue collection and address the issue of undertaxed sectors, the Federal Board of Revenue (FBR) has urged the offices of Inland Revenue (IR) to contribute new and innovative ideas.
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PTBA Concerns Over Tax Justice Delay
Karachi, February 23, 2024 – The Pakistan Tax Bar Association (PTBA) has raised concerns about potential delays in tax cases as a result of the non-availability of tribunal members.
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Taxpayers Beware: FBR Can Sell Property for Tax Recovery
In a move that highlights the stringent measures taken by the Federal Board of Revenue (FBR) to recover outstanding tax amounts, taxpayers should be aware that the FBR possesses the authority to sell immovable properties.
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FBR Seeks Tax Proposals as Pakistan Prepares Budget 2024-25
Islamabad, February 22, 2024 – The Federal Board of Revenue (FBR) has taken a proactive step towards promoting transparency and inclusivity in the upcoming budget formulation process by inviting trade bodies to submit tax proposals for the fiscal year 2024-25.
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NCCPL Set to Collect January Capital Gain Tax on February 29
Karachi, February 22, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has officially announced the collection of capital gain tax (CGT) on the disposal of shares for the month of January 2024.
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Windfall Tax on Banks Deemed Invalid due to Legislative Delay
Karachi, February 22, 2024 – The imposition of a windfall tax on the additional income of banks has become null and void as it failed to secure approval from the national assembly, according to sources.
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FBR Extends Export Facilitation Scheme to Entire Textile Chain
Lahore, February 21, 2024 – The Federal Board of Revenue (FBR) in Pakistan is set to expand its Export Facilitation Scheme (EFS) to encompass the entire textile value chain, according to Muhammad Sadiq, Chief Collector, Customs (Appraisement).
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FBR Maintains 30% Tax Collection Growth Until Mid-February 2024
Islamabad, February 20, 2024 – The Federal Board of Revenue (FBR) has achieved a remarkable 30 percent growth in tax collection by mid-February 2024, as reported in the latest data released by the Finance Ministry.
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PTBA Engages Chief Justice Faez Isa on Crucial Tax Issues
Karachi, February 20, 2024 – The Pakistan Tax Bar Association (PTBA) took a proactive stance on addressing key tax concerns during a recent meeting with Chief Justice of Pakistan (CJP) Justice Qazi Faez Isa.
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