Karachi, January 20, 2025 – The Federal Board of Revenue (FBR) has revealed a staggering Rs 1.42 trillion in sales tax exemptions granted to petroleum products, despite a significant decline in consumption over the past year.
(more…)Category: Top stories
Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
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FBR Achieves Historic Milestone with 6 Million Active Taxpayers
Karachi, January 20, 2025 – The Federal Board of Revenue (FBR) has reached a significant achievement, with the number of active taxpayers in Pakistan surging to a record high of 6.07 million.
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New Tax Laws to Abolish Higher Tax Rates on Non-Filers
Islamabad, January 20, 2025 – The National Assembly is set to approve the “Tax Laws (Amendment) Bill, 2024,” which aims to overhaul the taxation regime by abolishing higher withholding tax rates for non-filers.
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FBR Acquires 5-Year Data on Car Purchases by Non-Filers
Karachi, January 19, 2025 – The Federal Board of Revenue (FBR) has acquired extensive data on car purchases made over the past five years to initiate a crackdown on individuals with taxable income who have failed to meet their tax obligations.
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Pakistan Triumphs Over West Indies with 127-Run Win in First Test
Multan, January 19, 2025 – Pakistan delivered an emphatic performance to defeat the West Indies by 127 runs in the first Test match at the Multan Cricket Stadium on Sunday. This victory marks a continuation of Pakistan’s dominant form at home, with captain Shan Masood achieving his third consecutive Test win on Pakistani soil.
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Transit Trade Monitoring Debacle: Call for Thorough Probe
The Federal Board of Revenue (FBR) has recently brought grave allegations against a company entrusted with the critical task of monitoring and tracking cargo in transit.
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FBR to Pay Interest at KIBOR for Delayed Sales Tax Refunds
Karachi, January 18, 2025 – The Federal Board of Revenue (FBR) has confirmed its obligation to pay interest on delayed sales tax refunds at the annual Karachi Interbank Offered Rate (KIBOR).
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Sindh Initiates Real-Time Property Transaction Sharing with FBR
Karachi, January 18, 2025 – In a landmark move to bolster transparency and enhance tax compliance, the Sindh province has commenced real-time sharing of property transaction details with the Federal Board of Revenue (FBR).
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Pakistan Celebrates Historic $1.21 Billion CA Surplus in 1HFY25
Karachi, January 17, 2025 – Pakistan has reached a remarkable milestone, posting a record $1.21 billion current account (CA) surplus for the first half of fiscal year 2024-25 (January – December 2024), according to the State Bank of Pakistan (SBP). This achievement marks a significant turnaround from the $1.40 billion deficit recorded during the same period in the previous fiscal year.
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PM Shehbaz Warns FBR: No Tolerance for False Cases
Prime Minister Shehbaz Sharif issued a stern warning to officials of the Federal Board of Revenue (FBR) on Thursday, emphasizing that any individual found fabricating cases or presenting weak grounds in tax-related matters will face exemplary punitive actions. This declaration underscores the premier’s zero-tolerance policy towards malpractice and inefficiency within the revenue body.
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