PkRevenue.com – In an unexpected move just days before the federal budget presentation, the Federal Board of Revenue (FBR) has transferred key officials from the Large Taxpayers Office (LTO) in Lahore to the administrative pool.
(more…)Category: Top stories
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.
-
PM Shehbaz Calls for Local Manufacturing of Vehicles
PkRevenue.com – Prime Minister Shehbaz Sharif on Friday called on the automobile industry to initiate local manufacturing of vehicles and to export a significant portion of their products, contributing to national development and economic growth.
(more…) -
OCAC Urges Urgent KOIA Repairs Ahead Strong Karachi Monsoon
PkRevenue.com – The Oil Companies Advisory Council (OCAC) has made an urgent appeal to Karachi Mayor Murtaza Wahab for the immediate repair of the Keamari Oil Installation Area (KOIA) in anticipation of a particularly strong monsoon season expected to begin in June 2024.
(more…) -
Pakistan Poised for Sales Tax Hike and Income Tax Overhaul
PkRevenue.com – Pakistan is preparing to further increase the sales tax rate in the upcoming 2024-25 budget to generate significant revenue for the next fiscal year.
(more…) -
FBR Suggests New CGT on Non-Residents’ Capital Assets
PkRevenue.com – In a move aimed at tightening tax regulations, the Federal Board of Revenue (FBR) has proposed the imposition of capital gains tax (CGT) on the disposal of capital assets by non-residents.
(more…) -
KPRA Surpasses Annual Tax Collection Target One Month Ahead
PkRevenue.com – The Khyber Pakhtunkhwa Revenue Authority (KPRA) has achieved a significant milestone by surpassing its revenue collection target for the financial year 2023-24, a full month ahead of schedule.
(more…) -
Government Borrowing from Banks Nears Rs 7 Trillion Mark
PkRevenue.com – Government borrowing from banks in Pakistan has surged to unprecedented levels, nearing a staggering Rs 7 trillion. Data from the State Bank of Pakistan (SBP) revealed that between July 1, 2023, and May 17, 2024, the federal government borrowed Rs 6.795 trillion.
(more…) -
FBR Proposes Major Penalty Hikes for Sales Tax Violations
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.
(more…) -
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.
(more…) -
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.
(more…)