Karachi, December 5, 2023 – The Federal Board of Revenue (FBR) has announced a significant policy shift regarding delayed sales tax refunds, introducing an additional compensation mechanism tied to the Karachi Interbank Offered Rate (KIBOR).
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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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KSE-100 Index Continues Record-Breaking Rally, Soaring to 62,493 Points
Karachi, December 4, 2023 – The Pakistan Stock Exchange (PSX) witnessed another historic surge as the benchmark KSE-100 index reached an unprecedented 62,493 points on Monday, sustaining its record-breaking rally.
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PTBA Calls for Blocking Non-Filer FBR Officials
Karachi, December 4, 2023 – The Pakistan Tax Bar Association (PTBA) has called on the Federal Board of Revenue (FBR) to take decisive action against non-filer officials, emphasizing the need for accountability and transparency within the tax administration.
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Pakistan Oil Sales Rise by 9% in November 2023 Amidst Falling Prices
Karachi, December 4, 2023 – Pakistan has witnessed a significant upswing in oil sales, marking a 9 percent Month-on-Month (MoM) increase in November 2023. The surge in sales is attributed to the declining prices in the petroleum market.
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Pakistan and Saudi Arabia Inch Closer to Free Trade Agreement
Islamabad, December 3, 2023 –Pakistan and Saudi Arabia have made substantial progress towards a Free Trade Agreement (FTA) by reaching a consensus on investment modalities.
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Pakistan Introduces Tax Framework for Non-Resident Royalty Income in Tax Year 2024
Karachi, December 3, 2023 –Pakistan has unveiled a comprehensive tax treatment framework for royalty income earned by non-residents during the tax year 2024.
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IMF Disbursement Expectations Bolster Rupee Sentiment for Week Starting December 4
Karachi, December 3, 2023 – Anticipation of the International Monetary Fund’s (IMF) approval of the next $700 million tranche under its $3 billion Extended Fund Facility (EFF) arrangement has fueled optimism in Pakistan’s currency market, leading to a strengthening of the rupee against the dollar.
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FBR Achieves Rs 722 Billion in Revenue from Petroleum Duties and Sales Tax in FY23
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has successfully garnered Rs 722 billion through customs duty and sales tax on the import and supply of petroleum products during the fiscal year 2022-2023.
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FBR Collects Rs 155 Billion in Withholding Tax on Immovable Properties in FY23
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has collected a staggering Rs 155 billion in withholding tax on the sales and purchases of immovable properties during the Fiscal Year 2022-2023.
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Gold Rates Make Sharp Gain of Rs 3,100 in Pakistan on December 2
Karachi, December 2, 2023 – Gold rates in Pakistan experienced a substantial surge of Rs 3,100 on Saturday, reflecting a remarkable jump in the global markets.
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