Karachi, February 9, 2024 – In an effort to address under-invoicing concerns and streamline the determination of duties and taxes, Pakistan Customs has introduced a new valuation for old and used computer LCDs and LEDs.
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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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Banking Services Sales Tax Records Robust 17% Growth in FY23
Karachi, February 9, 2024 – The sales tax collection on banking services in Pakistan saw a remarkable growth of over 17 percent during the fiscal year 2022-23, as indicated by a report released by the Sindh Revenue Board (SRB) on Friday.
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Sindh Records Rs. 14.88 Billion in Telecom Services Sales Tax
Karachi, February 9, 2024 – The Sindh province has reported a significant collection of Rs. 14.88 billion as sales tax on telecom services during the fiscal year 2022-23, according to official data released on Friday.
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Port Services Sales Tax Dominates SRB Collections in FY23
Karachi, February 9, 2024 – The Sindh Revenue Board (SRB) has reported a noteworthy milestone in its fiscal year 2022-23 collections, with sales tax from port services emerging as the leading contributor, totaling Rs. 23.58 billion.
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Customs Seeks Powers to Tackle Imports under Baggage Rules
Karachi, February 9, 2024 – In a bid to curb the misuse of the Baggage Rules, Pakistan Customs is actively seeking enhanced powers to confiscate goods imported in commercial quantities.
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Basic Requirements for 2024 Income Tax Registration in Pakistan
As the tax season approaches in Pakistan for the year 2024, the Federal Board of Revenue (FBR), the apex tax agency of the country, has outlined the basic requirements for income tax registration.
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FTO Orders Probe into Tax Data Breach
Islamabad, February 7, 2024 – The Federal Tax Ombudsman (FTO) has directed an immediate investigation into a case of unauthorized access to tax data, revealing a concerning breach in the system.
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FBR Introduces New Rules for International Oil Suppliers
Islamabad, February 7, 2024 – The Federal Board of Revenue (FBR) in Pakistan has unveiled new rules for international oil suppliers, specifically addressing the import of crude oil and other petroleum products through customs bonded storage facilities.
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SRB Unveils 2024 Tax Rates for Professional Services in Sindh
Karachi, February 7, 2024 – The Sindh Revenue Board (SRB) has released the tax rates applicable to services provided by professionals and consultants for the tax year 2024.
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FBR Bans USB Usage in Tax Network After Malware Scare
Islamabad, February 7, 2024 – The Federal Board of Revenue (FBR) has taken decisive action to enhance cybersecurity by prohibiting the use of USB drives in its tax network after the detection of high-severity malware.
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