Karachi, March 7, 2024 – The Federal Board of Revenue (FBR) has issued crucial instructions to tax offices regarding the expeditious handling of deferred sales tax refund claims.
(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.
-
SBP Witnesses $54 Million Decline in Weekly Forex Reserves
Karachi, March 7, 2024 – The State Bank of Pakistan (SBP) announced a notable decrease of $54 million in its weekly foreign exchange reserves, according to an official statement released on Thursday.
(more…) -
Pakistan Announces Nisab of Zakat for Ramadan 2024
Karachi, March 7, 2024 – In preparation for the upcoming holy month of Ramadan 2024, Pakistan has officially notified the Nisab of Zakat, outlining the criteria for the deduction of Zakat from bank accounts on the first day of the sacred month.
(more…) -
NBP’s Tax Contingencies Surge to Rs 34.73 Billion in CY23
Karachi, March 7, 2024 – The National Bank of Pakistan (NBP) is grappling with a substantial increase in tax contingencies, soaring to an astonishing Rs 34.73 billion by the close of the calendar year 2023.
(more…) -
PM Shehbaz Directs Resolution for Rs 1.7 Trillion Tax Recovery
Islamabad, March 6, 2024 – Prime Minister Shehbaz Sharif, in a high-level meeting on the restructuring of the Federal Board of Revenue (FBR), directed authorities to expedite the resolution of legal disputes obstructing the recovery of Rs 1.7 trillion in stuck-up taxes.
(more…) -
SBP Auctions Rs 527 Billion T-Bills with Strong Bank Participation
Karachi, March 6, 2024 – The State Bank of Pakistan (SBP) achieved a significant milestone on Wednesday by successfully selling market treasury bills worth Rs 527 billion in an auction, surpassing the initial target of Rs 225 billion.
(more…) -
Standard Chartered Bank Pays Rs 143 Million Penalty to SBP
Karachi, March 6, 2024 – Standard Chartered Bank Pakistan Limited has recently disclosed that it paid a substantial penalty of Rs 143 million due to regulatory violations, as per a report released by the financial institution.
(more…) -
PM Shehbaz Orders Complete Digitization of Taxation System
Islamabad, March 5, 2024 – Prime Minister Muhammad Shehbaz Sharif has issued a directive for the immediate digitization of the country’s taxation system, aiming to enhance transparency, boost tax collection, and eradicate issues such as tax evasion, corruption, and smuggling.
(more…) -
FBR Receives 60,000 New Active Taxpayers in Just Three Days
Karachi, March 4, 2024 – The Federal Board of Revenue (FBR) has experienced a significant boost, registering approximately 60,000 new active taxpayers in just three days since the launch of the latest Active Taxpayers List (ATL).
(more…) -
Utility Stores Launch Rs 7.5 Billion Ramadan Relief Package
Islamabad, March 4, 2024 – In an effort to alleviate the financial burden on citizens during the holy month of Ramadan, the Utility Stores Corporation (USC) is gearing up to implement the Rs 7.5 billion Prime Minister’s Ramadan Relief Package 2024 on Tuesday, March 5, 2024.
(more…)