Karachi, February 16, 2024 – Federal Board of Revenue (FBR) Chairman Malik Amjed Zubair Tiwana has given the go-ahead for stringent penal measures against non-filers.
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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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Mari Petroleum Discovers Gas Reserves in Block-28 Balochistan
Karachi, February 16, 2024 – In a groundbreaking development, Mari Petroleum Limited has officially announced the discovery of substantial gas reserves in the Maiwand Well within Block-28, located in Balochistan.
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FBR Lacks Standards to Determine Property Value: FTO Report
ISLAMABAD, February 16, 2024 – In a recent report, the Federal Tax Ombudsman (FTO) has highlighted significant deficiencies in the Federal Board of Revenue’s (FBR) process of determining fair market property values.
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Simplified Tax Return to Benefit 1.4 Million Salaried Persons
KARACHI, February 16, 2024 – In a move to alleviate the burden on salaried individuals and pensioners, the Federal Tax Ombudsman (FTO) has revealed that the newly simplified income tax return form is set to benefit approximately 1.4 million taxpayers.
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Pakistan Raises Petroleum Prices for 2nd Half of February 2024
Islamabad, February 15, 2024 – In a move that may impact the pockets of consumers, Pakistan has increased petroleum prices for the second half of February 2024.
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Pakistan Cabinet Greenlights Substantial Gas Price Surge
Islamabad, February 15, 2024 – In response to the ongoing economic crisis, the federal cabinet of Pakistan has approved a significant increase in gas prices, effective from February 1, 2024.
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Political Uncertainty Hits KSE-100 Index with 1,134-Point Drop
Karachi, February 15, 2024 – The Pakistan stock market faced a tumultuous day on Thursday as political uncertainty took center stage, causing the benchmark KSE-100 index to shed a significant 1,134 points.
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ECC Approves Enhanced 25% Sales Tax Rate on Local Vehicles
Islamabad, February 15, 2024 – The Economic Coordination Committee (ECC) of the Cabinet, during its meeting on Wednesday, gave the nod to an increased sales tax rate of 25 percent on locally assembled vehicles.
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Peshawar High Court Declares Section 7E Unconstitutional
Islamabad, February 14, 2024 – The Peshawar High Court (PHC) has struck down Section 7E of the Income Tax Ordinance, 2001, terming it beyond the legislative competence of the Parliament.
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APTMA Warns of 50% Shutdown in Textile Sector
Karachi, February 14, 2024 – The All Pakistan Textile Mills Association (APTMA) issued a stern warning to the government on Wednesday, cautioning that over 50 percent of firms in the textile and apparel sector are at high risk of shutting down in the coming weeks unless urgent corrective measures are taken.
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