Karachi, December 22, 2023 – The Federal Board of Revenue (FBR) took a significant step on Friday by unveiling draft rules aimed at digitalizing tax deduction and collection processes through the introduction of SWAPS (Synchronized Withholding Administration and Payment System).
(more…)Category: Taxation
Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
-
Obtain Tax Clearance Certificate Before Leaving Permanently
Karachi, December 22, 2023 – In a significant development, citizens planning to leave Pakistan permanently will now be required to obtain tax clearance certificates, according to the updated Income Tax Rules for the tax year 2024.
(more…) -
Committee Formed for Single Sales Tax Return Filing in Pakistan
Karachi, December 21, 2023 – A significant step towards tax reforms has been taken in Pakistan as a committee has been set up for the implementation of a Single Sales Tax Return through a unified portal.
(more…) -
Iranian Envoy Seeks FBR Collaboration to Streamline Barter Trade
Islamabad, December 21, 2023 – The Iranian envoy to Pakistan, Dr. Reza Amiri Moghaddam, urged the Federal Board of Revenue (FBR) on Thursday to facilitate a smoother flow of barter trade between the two neighboring nations.
(more…) -
Foreign Diplomats in Pakistan Require Permission for Zero-Rating
Karachi, December 21, 2023 – The Federal Board of Revenue (FBR) has introduced a requirement for foreign diplomats in Pakistan to obtain explicit permission for zero-rating of sales tax supplies.
(more…) -
Tax Officers Barred from Entering Homes After Sunset for Arrests
Karachi, December 21, 2023 – Tax officers across the country are now prohibited from entering dwelling houses to make arrests after sunset, according to the recently updated Income Tax Rules, 2002 for the tax year 2024.
(more…) -
FBR Transfers 98 Customs Officers in Mega Reshuffle
Islamabad, December 20, 2023 – In a significant development, the Federal Board of Revenue (FBR) announced a major reshuffle with the transfer and postings of 98 customs officers on Wednesday.
(more…) -
NCCPL Sets December 29 as Deadline for CGT Collection
Karachi, December 20, 2023 – The National Clearing Company of Pakistan Limited (NCCPL) has officially announced the deadline for the collection of Capital Gain Tax (CGT) for the month of November 2023.
(more…) -
FBR Streamlines e-Audit Procedures for Tax Year 2024
Karachi, December 20, 2023 – The Federal Board of Revenue (FBR) has introduced a streamlined procedure for the electronic audit (e-audit) of taxpayers during the tax year 2024.
(more…) -
FBR Commissioner Authorized to Issue Arrest Warrants
Karachi, December 20, 2023 – A commissioner of the Federal Board of Revenue (FBR) is now empowered to issue arrest warrants for tax defaulters.
(more…)