Karachi, June 27, 2024 – The government of Pakistan remains undecided on the implementation of the new normal tax regime for exporters, set to begin on July 1, 2024, amidst considerable opposition from the sector, sources revealed on Thursday.
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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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Pensioners Avail Rs 41.22 Billion as Tax Exemption Last Year: FBR
Karachi, June 26, 2024 – The Federal Board of Revenue (FBR) has announced that pensioners benefitted from Rs 41.22 billion in income tax exemptions during the last fiscal year.
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Aurangzeb Declares Major Tax Hike on Retailers Beginning July 1
Islamabad, June 26, 2024 – In a significant policy shift, Finance Minister Muhammad Aurangzeb announced on Tuesday that heavy taxes on retailers will take effect from July 1, 2024.
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FBR Extends Tax Collection Hours Ahead of FY24 Deadline
Islamabad, June 25, 2024 – The Federal Board of Revenue (FBR) has announced special measures for tax collection during the final days of the fiscal year 2023-24, aiming to maximize revenue collection before the financial year concludes on June 30, 2024.
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FBR Committee Proposes 30% Tax on Non-Filers’ Bank Deposits
Islamabad: The high-powered budget anomaly committee constituted by the Federal Board of Revenue (FBR) has proposed a 30 percent tax on bank deposits of non-filers.
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FBR Unveils Draft Income Tax Return Forms for Tax Year 2024
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) issued draft return forms for the tax year 2024 on Monday, ensuring the timely commencement of the return filing season this year.
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New Property Tax Rates: FBR Explains Benefits of Filing on Time
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the new property tax rates introduced through the Finance Bill 2024.
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Aurangzeb Assures PBC of Addressing Budget Concerns
Islamabad, June 24, 2024 – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, assured the Pakistan Business Council (PBC) on Monday that their recommendations would be considered in the finalization of the 2024-25 budget.
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FBR to Tax Late Filers on Property Deals from July 1
Starting July 1, 2024, the Federal Board of Revenue (FBR) will commence the collection of advance tax on property transactions from late filers after the approval from the parliament. This move aims to tighten tax compliance and discourage the trend of filing tax returns only when engaging in property transactions.
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FBR to Conduct Investigative Sales Tax Audit
Karachi, June 23, 2024 – The Federal Board of Revenue (FBR) is set to conduct investigative audits of sales tax cases starting from the next fiscal year, according to official sources.
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