The Pakistan Business Council (PBC) has raised concerns over the Federal Board of Revenue’s (FBR) SRO 229(I)/ 2023, which requires companies and foreign investors to maintain records of beneficial owners, despite the comprehensive documentation already mandated by the Securities and Exchange Commission of Pakistan (SECP).
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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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Health experts advise imposing additional tax on sugary drinks
The speakers at the workshop emphasized the benefits of imposing additional taxes on items that have serious health consequences, particularly sugary drinks.
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Karachi Customs announces mega auction of motor vehicles on April 01
The Collectorate of Customs Appraisement (West) in Karachi has disclosed plans for a substantial auction of old and used motor vehicles scheduled for April 01, 2023, at the AICT Maripur Road in Karachi.
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Taxation structure on cigarettes still lowest in region: FBR
ISLAMABAD: The Chairman of the Federal Board of Revenue (FBR), Asim Ahmad has said that the taxation structure on cigarettes is still the lowest in the region and does not meet the World Health Organization (WHO) criteria.
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FTO expresses concerns over FBR’s unethical behavior
ISLAMABAD: The Federal Tax Ombudsman (FTO) has raised serious concerns over the Federal Board of Revenue’s (FBR) handling of taxpayer complaints, citing a lack of empathy and cooperation in addressing the hardships faced by taxpayers.
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FBR issues final call for submitting asset declarations by customs officers
Federal Board of Revenue (FBR) Wednesday issued final warning to BS-18 customs officers to submit their asset declarations and performance evaluation reports (PERs).
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Banks to observe extended banking hours for tax collection on March 30-31
To facilitate tax collection, banks in Pakistan have been instructed to observe extended banking hours on March 30 and 31, 2023.
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Capital market seeks income tax exemption on foreign investment
Pakistan’s capital market has recommended tax exemption on income derived from foreign investments.
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PSX suggests aligning CGT on disposal of securities, immovable properties
Pakistan Stock Exchange (PSX) in its proposals for budget 2023-2024 suggested to align rates of capital gains tax on disposal of listed securities with the rates of CGT on sale of immovable property.
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FBR publishes list of 3.41 million people on ATL
The Federal Board of Revenue (FBR) has made public 3.41 million names of persons, who are on active taxpayers list (ATL). The revenue body in its latest active taxpayers list (ATL) on March 21, 2023, which includes the names of 3.41 million individuals and companies.
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