Karachi, September 11, 2024 – The Federal Board of Revenue (FBR) has announced the withholding tax rates for car purchases in the tax year 2024-25, with updated guidelines regarding the tax rates applicable to individuals on the Active Taxpayers List (ATL) and non-ATL individuals.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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Pakistan Witnesses 44% Surge in Remittances in 2MFY25
KARACHI: Pakistan has witnessed a significant 44% increase in workers’ remittances during the first two months of the fiscal year 2025 (2MFY25), providing much-needed relief as the country grapples with external economic pressures.
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FBR Adds 2.2 Million Active Taxpayers to ATL 2023
Karachi, September 9, 2024 – The Federal Board of Revenue (FBR) has achieved a significant milestone by adding 2.2 million new taxpayers to the Active Taxpayers List (ATL) for the year 2023.
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FBR Pushes Rs 1.16 Trillion Collection to Avert Mini-Budget
Islamabad, September 9, 2024 – The Federal Board of Revenue (FBR) is aiming to achieve a revenue collection target of Rs 1.16 trillion in September 2024, as part of an urgent effort to meet its monthly and quarterly tax goals.
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FBR Notifies Tax Rates for Rental Income on Immovable Property
Karachi, September 8, 2024 – The Federal Board of Revenue (FBR) has announced updated withholding tax rates on income from rent of immovable property for the tax year 2024-25.
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Banks Scramble to Boost ADR and Avoid Tax Hikes
KARACHI: Banks in Pakistan are scrambling to meet the required 50% gross advance-to-deposit ratio (ADR) by the end of 2024 to avoid hefty tax rates, analysts said on Saturday. Failure to meet the target would trigger an additional 16% tax on investment income, a financial blow that many banks are eager to sidestep.
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FBR Extends Tax Exemption on Agricultural Income for TY 2024-25
Karachi, September 7, 2024 – The Federal Board of Revenue (FBR) has announced the continuation of tax exemption on agricultural income for the tax year 2024-25.
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FBR Issues Tax Rates on Payments for Goods and Services
Karachi, September 6, 2024 – The Federal Board of Revenue (FBR) has announced updated income tax rates on payments made for goods and services under Section 153 of the Income Tax Ordinance, 2001.
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Pakistan’s Total Debt Rises to Rs 69.6 Trillion by July 2024
Karachi – Pakistan’s total debt surged to Rs 69.6 trillion at the end of July 2024, reflecting increased borrowing from domestic and international sources to cover the country’s fiscal deficit.
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FBR Unveils Rules for FED Collection on Property Transactions
Islamabad, September 5, 2024 – The Federal Board of Revenue (FBR) on Thursday announced new rules for the collection of Federal Excise Duty (FED) on property transactions. The updated regulations were formalized through SRO No. 1376(I)/2024, amending the Federal Excise Rules, 2005, and introducing a new chapter titled “Excise Duty on Property.”
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