In a bold and transformative move, the Federal Board of Revenue (FBR) is contemplating an extensive overhaul of the current sales tax framework for the fiscal year 2024-25.
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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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UAE Pledges $10 Billion Investment in Pakistan
Abu Dhabi, May 23, 2024 – In a significant diplomatic and economic development, President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan, has pledged a substantial investment of $10 billion in various sectors of Pakistan.
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MTO Karachi Recovers Super Tax of Rs 607 Million from Maersk
Karachi, May 23, 2024 – In a landmark fiscal achievement, the Medium Tax Office (MTO) Karachi has effectuated the recovery of a colossal sum of Rs 607 million in super tax from Maersk, the globally eminent shipping and logistics conglomerate.
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Pakistan Aims to Transform Economy with UAE Collaboration
Abu Dhabi, May 23, 2024 – Prime Minister Shehbaz Sharif has declared his government’s strong commitment to transforming Pakistan economy through strategic collaboration with the United Arab Emirates (UAE).
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KCCI Proposes Measures to Combat Fraud by Foreign Suppliers
Karachi, May 23, 2024 — In a bid to protect importers from fraudulent activities by foreign suppliers, the Karachi Chamber of Commerce and Industry (KCCI) has presented a comprehensive plan to the tax authorities.
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Sazgar Eyes Car Export Markets in Egypt and Thailand
Karachi, May 23, 2024 — Sazgar Engineering Works Limited has set its sights on expanding into the car markets of Egypt and Thailand as part of its strategic expansion plan.
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Pakistan Customs Issues Classification for Electric Vehicles
Karachi, May 23, 2024 — Pakistan Customs has clarified the classification of imported electric vehicles, specifically addressing the duty and taxes applicable to such imports. The decision was made to eliminate ambiguity and ensure accurate categorization of electric vehicles based on their design and intended use.
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ATIR Rules Super Tax Not Payable on FTR Income
Karachi, May 23, 2024 — In a significant ruling, the Appellate Tribunal Inland Revenue (ATIR), Karachi, has determined that super tax is not applicable to income falling under the Final Tax Regime (FTR) for exporters.
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Chinese Companies Show Interest in Pakistan Refinery Limited
KARACHI, May 22, 2024 – Chinese companies have expressed keen interest in partnering with Pakistan Refinery Limited (PRL) on its ambitious Refinery Expansion and Upgrade Project (REUP).
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CCP Grants Exemption for Aramco and GO Petroleum Deal
Islamabad, May 21, 2024 – The Competition Commission of Pakistan (CCP) has granted a time-bound exemption on specific clauses of a product supply agreement between Aramco Trading (ATC) Fujairah FZE Ltd and Gas and Oil Pakistan Ltd (GO Petroleum).
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