PkRevenue.com – In a bold move aimed at bolstering tax compliance, the Federal Board of Revenue (FBR) has proposed an unprecedented escalation in penalties for violations of sales tax regulations.
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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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FBR Aims to Generate Rs 205 Billion Additional Trade Tax in FY25
PkRevenue.com – The Federal Board of Revenue (FBR) of Pakistan is gearing up to generate an additional Rs 205 billion through trade taxes in the fiscal year 2024-25. This target represents a 9 percent increase over the projected trade tax collection of Rs 1.09 trillion for the current fiscal year, 2023-24.
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FBR Proposes Tax on Govt. Securities Sold Before Maturity
(PkRevenue.com) – In a bid to curb revenue leakage and enhance the documentation of financial transactions, the Federal Board of Revenue (FBR) has proposed imposing a withholding tax on government securities sold before their maturity. This proposal is part of the FBR’s budget recommendations for the fiscal year 2024-25.
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PM Shehbaz Invites Chinese Firms to Set up Industry in Pakistan
(PkRevenue.com) – Prime Minister Shehbaz Sharif on Tuesday extended a warm invitation to Chinese companies, particularly those in the textile sector, to establish their industries in Pakistan.
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Foreign Investors Take Out $887 Million from Pakistan
(PkRevenue.com) – Foreign investors have withdrawn a substantial $887 million from Pakistan between July 2023 and April 2024, according to official data released on Tuesday.
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FBR Generates Rs 87 Billion Income Tax from Bank Depositors
Karachi (PKRevenue.com) – In a significant fiscal achievement, the Federal Board of Revenue (FBR) has collected an impressive Rs 87 billion in income tax from bank depositors during the first ten months of the fiscal year 2023-24.
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Pakistan Plans Fairer Taxation to Boost Revenue: IMF
Islamabad, May 27, 2024 – The International Monetary Fund (IMF) has announced that Pakistan is implementing fairer taxation policies aimed at boosting domestic revenue.
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Tajir Dost Scheme Accelerates Tax Registration Drive
Islamabad, May 26, 2024 – In a significant stride towards broadening Pakistan’s tax base, the Federal Board of Revenue (FBR) has reported a surge in tax registrations under the Tajir Dost Scheme.
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Withholding Tax on Bank Cash Withdrawals May Rise to 0.9%
Karachi, May 26, 2024 – Pakistan is likely to increase the withholding tax rate on bank cash withdrawals from 0.6 percent to 0.9 percent. This proposed amendment is expected to be a key component of the Federal Board of Revenue (FBR)’s forthcoming budget for 2024-25.
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Pakistan Likely to Raise Petroleum Levy to Rs 100 per Liter
Islamabad, May 26, 2024 – Pakistan is poised to increase the petroleum levy to Rs 100 per liter, a significant hike from the current Rs 60 per liter in the budget 2024-25.
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