The Federal Board of Revenue (FBR) conducted a briefing on Monday to present tax proposals for the upcoming budget of 2023-2024 to Finance Minister Muhammad Ishaq Dar. The meeting, held at the Finance Division, was chaired by Minister for Finance and Revenue, Senator Mohammad Ishaq Dar.
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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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PSW discontinues manual certification for prior-shipment inspection from May 22, 2023
Pakistan Single Window (PSW) has recently announced the discontinuation of manual certification for prior-shipment inspection (PSI) for customs clearance, starting from May 22, 2023.
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FBR Collects Rs2.23 Billion as Capital Value Tax on Foreign Assets
The Federal Board of Revenue (FBR) has successfully collected Rs2.23 billion as Capital Value Tax (CVT) on foreign assets owned by resident individuals.
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Overseas investors urge Pakistan to crack down on illicit trade, raid retailers
The Overseas Investors Chamber of Commerce and Industry (OICCI) has called upon Pakistan to take decisive action against retailers and manufacturers involved in illicit trade.
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Lady Officer of Pakistan Customs Service Dismissed for Unauthorized Absence
ISLAMABAD: A female officer of the Pakistan Customs Service (PCS) has been handed a major penalty of dismissal from service by the Federal Board of Revenue (FBR).
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LTO Karachi posts 24% growth in tax collection for July – April 2022-2023
The Large Taxpayers Office (LTO) Karachi has reported a significant increase in tax collection, recording a remarkable 24% growth during the period of July to April 2022-2023 compared to the previous fiscal year.
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Pakistan considers expanding CVT to include all movable assets
Pakistan is contemplating an expansion of the scope of the Capital Value Tax (CVT) to encompass all movable assets, sources said on Wednesday May 17, 2023.
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Pakistan Single Window expands operations to dry ports
Pakistan Single Window (PSW) has announced the extension of its operations to all dry ports (except Quetta), effective May 3, 2023. This move aims to enhance the facilitation of cross-border trade operations in Pakistan.
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FBR publishes names of 3.67 million active taxpayers for TY2022
ISLAMABAD – The Federal Board of Revenue (FBR) Monday released the names of 3.67 million active taxpayers who have successfully filed their annual returns for the tax year 2022.
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Foreign investors urge Pakistan to simplify withholding tax regime
Foreign investors in Pakistan are urging for a simplified withholding tax regime in the upcoming budget for 2023-2024.
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