Islamabad, February 14, 2024 – The Peshawar High Court (PHC) has struck down Section 7E of the Income Tax Ordinance, 2001, terming it beyond the legislative competence of the Parliament.
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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 Sees Surge in Smoking Cessation After Tax Hike – Report
Islamabad, February 14, 2024: A new study by Capital Calling, a prominent Pakistan think tank, reveals a significant drop in cigarette consumption following the government’s implementation of higher taxes on tobacco products.
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President Commends FTO for Swift Taxpayer Grievance Resolution
Islamabad, February 14, 2024 – In a commendation of the Federal Tax Ombudsman’s (FTO) commendable efforts, Pakistan’s President Dr. Arif Alvi has lauded the organization for its pivotal role in swiftly addressing taxpayers’ grievances.
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Pakistan Customs Classifies Children Scooty with PCT 9503.0010
Karachi, February 13, 2024 – In a recent development, Pakistan Customs has issued a specific classification for children scooties, assigning them the Pakistan Customs Tariff (PCT) Code 9503.0010.
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Islamabad Customs to Auction 43 Vehicles on February 15, 2024
Islamabad, February 13, 2024 – The Islamabad Collectorate of Customs has officially declared an upcoming auction for 43 vehicles scheduled to take place on February 15, 2024.
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Active Taxpayers of 2022 Given Tax Benefits Until February 29
Karachi, February 12, 2024 – Active taxpayers for the tax year 2022 are granted an extended window to avail themselves of reduced tax rates, with the deadline set for February 29, 2024, announced the Federal Board of Revenue (FBR).
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Insurance Sector Contributes Rs 10.15 Billion in Sindh Sales Tax
Karachi, February 11, 2024 – The insurance sector has emerged as a significant contributor to the Sindh government’s revenue, having paid a substantial amount of Rs 10.15 billion as sales tax on services during the fiscal year 2022-23, according to the latest report released by the Sindh Revenue Board (SRB).
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PTBA Urges FBR for Efficient Tax Jurisdiction Processes
Karachi, February 10, 2024 – The Pakistan Tax Bar Association (PTBA), apex tax bar of the country, has called on the Federal Board of Revenue (FBR) to optimize the transfer process of tax cases to their correct jurisdictions.
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How to Modify Income Tax Registration at FBR
In a recent development, the Federal Board of Revenue (FBR) has introduced a comprehensive procedure for individuals seeking to modify their income tax registration due to changes or omissions in their information.
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Sindh Tax Collection from Food and Hospitality Grows 41%
Karachi, February 10, 2024 – Sindh has reported a remarkable 41 percent surge in sales tax collection from the food and hospitality sector during the fiscal year 2022-23, according to the annual report released by the Sindh Revenue Board (SRB).
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