Karachi, June 1, 2023 – The Karachi Tax Bar Association (KTBA) has expressed its opposition to taxing salary income based on the gross amount.
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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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SRB exhibits remarkable performance, collects Rs161 in 11 months
Karachi, June 1, 2023 – The Sindh Revenue Board (SRB) has achieved a remarkable milestone in revenue collection during the first eleven months of the current fiscal year.
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Pakistan Considers Restricting Cash Transactions Above Rs. 10,000 at Retail Outlets
In an effort to promote the documentation of the economy, the government of Pakistan is contemplating imposing restrictions on cash transactions exceeding Rs. 10,000 at retail outlets.
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Commission Recommends Amendments to Taxation on Prizes and Winnings
In a significant move, a high powered tax commission has put forth a series of recommendations aimed at amending the taxation on prizes and winnings.
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Karachi Tax Bar Association Proposes Amendments to Ease Tax Challan Issuance
Karachi Tax Bar Association (KTBA) has proposed amendments to ease in tax challane issuance while raising concerns over the difficulties faced by taxpayers in obtaining copies of challans from withholding agents.
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KTBA Suggests Abolishing Tax on Deemed Income
Karachi Tax Bar Association (KTBA) has made a compelling case for the government to abolish the tax on deemed income by proposing an amendment to the Finance Bill 2023.
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Commission Recommends Eliminating Principal Appraiser Post in Pakistan Customs
The Reform and Revenue Mobilization Commission (RRMC) in Pakistan has recently conducted an assessment and determined that the post of principal appraiser in Pakistan Customs serves no practical purpose.
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Pakistan May Impose High Tax Rates on Non-Filer Religious Travelers
Pakistan is reviewing a proposal to impose significantly higher tax rates on non-filer religious travelers as part of its efforts to bring undocumented money into the formal economy.
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President Orders FBR to Apologize, Compensate for Mishandling of Imported Vehicles
President Dr Arif Alvi has taken decisive action in response to the mishandling of imported vehicles by the Customs Department, directing the Federal Board of Revenue (FBR) to issue an apology and provide compensation to a citizen who faced significant financial losses.
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FBR Directs Officials to Submit Asset Declarations; Failure May Lead to Action
Islamabad, May 29, 2023: The Federal Board of Revenue (FBR) has issued a directive to all chiefs, urging them to ensure that officials under their administrative control file their asset declarations.
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