Islamabad, January 17, 2024 – The Federal Board of Revenue (FBR) issued a statement on Wednesday refuting news reports circulating in certain media sections regarding a planned protest by IRS officers.
(more…)Category: Taxation
Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
-
Sindh Announces Sales Tax Rates on Telecom Services for 2024
Karachi, January 17, 2024 – The Sindh government has released the sales tax rates on telecom services for the tax year 2024, applicable across the province.
(more…) -
FBR Specifies Death Penalty for Narcotics Smuggling
Karachi, January 17, 2024 – The Federal Board of Revenue (FBR) in Pakistan has updated the Customs Act, 1969, for the tax year 2024, specifying severe penalties, including the possibility of the death penalty, for those involved in smuggling of narcotics.
(more…) -
Pakistan Announces Tax Amnesty for 2024
Karachi, January 17, 2024 – Pakistan has taken a significant step to boost its economy by announcing a tax amnesty for certain foreign currency transactions during the tax year 2024.
(more…) -
FTO Exposes Flaws in Valuation of Immovable Properties
Karachi, January 16, 2024 – The Federal Tax Ombudsman (FTO) has unearthed significant flaws in the valuation of immovable properties across Pakistan, revealing a lack of attention from the Federal Board of Revenue (FBR) and incompetence that has left the field vulnerable to the discretion of provincial and FBR’s field staff.
(more…) -
Islamabad Customs Auctions Confiscated Vehicles on January 18
Islamabad, January 16, 2024 – The Islamabad Collectorate of Customs has declared an auction of confiscated vehicles scheduled to take place on January 18, 2024.
(more…) -
FBR Imposes Strict Penalties for Smuggling in 2024
Karachi, January 16, 2024 – In a bid to curb the menace of smuggling, the Federal Board of Revenue (FBR) has announced a series of harsh penalties for individuals involved in the illegal transportation of goods, including essential commodities, into or out of Pakistan.
(more…) -
Pakistan Reduces Tax Liability for Women Entrepreneurs
Karachi, January 16, 2024 – In a progressive move, Pakistan has taken a significant step to empower women entrepreneurs by reducing tax liability under the category of income from business.
(more…) -
FBR Rationalizes Negative List to Boost Export Sectors
Islamabad, January 16, 2024 – The Federal Board of Revenue (FBR) has announced the rationalization of the negative list for sales tax input adjustment, paving the way for a more favorable business environment for five leading export-oriented sectors in Pakistan.
(more…) -
FBR Initiates Domicile Verification of Balochistan Employees
Karachi, January 15, 2024 – The Federal Board of Revenue (FBR) has embarked on a comprehensive verification process of the domiciles of its employees hailing from the province of Balochistan.
(more…)