Karachi, September 29, 2023 – The Federal Board of Revenue (FBR) has taken a significant step in enhancing tax compliance by making the submission of a wealth statement mandatory for all income tax return filers.
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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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SBP Issues Special Instructions to Banks for Tax Collection on September 30
Karachi, September 28, 2023 – The State Bank of Pakistan (SBP) has issued important directives to commercial banks to ensure the smooth facilitation of tax collection on September 30, 2023.
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FBR Recovers Rs 3 Billion from State Life Insurance by Attaching Bank Accounts
Karachi, September 28, 2023 – In a significant development, the Federal Board of Revenue (FBR) successfully recovered a substantial amount of Rs 3 billion from the State Life Insurance Corporation of Pakistan by attaching its bank accounts.
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Pakistan Directs Citizens to Declare Foreign Income and Assets for Tax Year 2023
Karachi, September 28, 2023 – In a move aimed at enhancing transparency and compliance with tax regulations, Pakistan has issued a directive requiring its citizens to declare foreign income and assets as part of their annual tax return for the year 2023.
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PTBA Demands 90-Day Filing Period After Portal Error Removal
Karachi, September 27, 2023 – The Pakistan Tax Bar Association (PTBA) has called upon tax authorities to provide taxpayers with a clear 90-day window, as mandated by statute, following the removal of all glitches from the online portal.
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Balochistan Tax Bar Identifies Return Filing Challenges and Calls for Extension
Karachi, September 27, 2023 – The Balochistan Tax Bar Association (BTBA) has brought to light significant challenges in filing income tax returns and has urged authorities to extend the filing deadline.
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Return Filing Glitches Annoy Non-Resident Pakistanis
Karachi, September 27, 2023 – Non-resident Pakistanis are encountering significant challenges as they attempt to file their income tax returns for the tax year 2023, primarily due to persistent glitches in the Federal Board of Revenue’s (FBR) online portal.
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FBR Issues Procedure for Income Tax Return Filing Date Extension
Karachi, September 27, 2023 – The Federal Board of Revenue (FBR) has released a detailed procedure for individuals and entities seeking an extension in the filing of income tax returns.
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FBR May Extend Return Filing Date for Tax Year 2023 Amidst Technical Challenges
Karachi, September 27, 2023 – The Federal Board of Revenue (FBR) is contemplating an extension of the deadline for filing income tax returns for the tax year 2023, following a surge in complaints from taxpayers grappling with technical difficulties in the online filing process.
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Pakistan and Germany Initiate Renegotiations to Eliminate Double Taxation
Islamabad, September 26, 2023 – Pakistan and Germany have taken significant steps toward strengthening their economic ties by initiating renegotiations on the Agreement for the Elimination of Double Taxation.
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