Karachi, January 6, 2024 – In a remarkable achievement, the Large Taxpayers Office (LTO) Karachi has secured the top position in tax collection among the offices of the Federal Board of Revenue (FBR) in Pakistan.
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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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FBR’s 2023 Audit Performance: Bleak with 1% Recovery
Karachi, January 5, 2024 – The annual performance report of the Federal Board of Revenue (FBR) for the tax year 2023 has revealed a bleak picture, indicating only a one percent recovery out of the total demand created through audits.
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Pakistan Customs Unveils Conditions for Drawback Repayment
Karachi, January 5, 2024 – Pakistan Customs has established a set of conditions for the repayment of drawback on the export of imported goods during the tax year 2024.
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FBR Unveils 2024 Tax Rates on Rental Income
Karachi, January 5, 2024 – The Federal Board of Revenue (FBR) has released the much-anticipated tax rates on rental income for the tax year 2024, outlining a progressive structure aimed at ensuring a fair and equitable taxation system.
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SRB Issues Fresh Guidelines to Banks on Sales Tax Payment
Karachi, January 4, 2024 – The Sindh Revenue Board (SRB) has recently issued updated guidelines to banks concerning the payment of sales tax on services in the province.
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FBR Sets Strict Deadline for Customs Duty Refund Claims
Karachi, January 4, 2024 – The Federal Board of Revenue (FBR) has taken a decisive step by announcing that it will reject refund claims of customs duty if filed after one year.
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Who Are E-Intermediaries Under Income Tax Rules for 2024?
In a move to bring clarity to the taxation landscape, the Federal Board of Revenue (FBR) has recently updated the Income Tax Rules for the tax year 2024, shedding light on the definition of e-intermediaries.
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What Constitutes Fiscal Fraud under Pakistan Customs Law?
In an effort to combat fiscal fraud and uphold transparency, the updated Customs Act of 1969 includes detailed provisions regarding fiscal fraud, primarily outlined in Section 32A.
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Tax Rates on Prize Bond Winnings for 2024
Karachi, January 3, 2024 – As the New Year unfolds, the Federal Board of Revenue (FBR) in Pakistan has provided clarity on the tax rates applicable to prize bond winnings for the year 2024.
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LTO Karachi Surpasses Rs 1 Trillion Milestone in Six Months
Karachi, January 3, 2024 – The Large Taxpayers Office (LTO) Karachi has etched its name in history by surpassing the Rs 1 trillion collection mark within a span of six months.
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