Karachi, November 30, 2023 – Pakistan experienced an increase of $91 million in its foreign exchange reserves for the week ending November 24, 2023.
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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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FBR Warns Sugar Millers of 3-Year Jail Sentence for Sales Tax Evasion
Islamabad, November 30, 2023 – The Federal Board of Revenue (FBR) has delivered a stern warning to sugar millers, cautioning them against sales tax evasion and emphasizing the potential consequences, including a three-year jail sentence.
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Islamabad High Court Grants Stay on Windfall Tax for Banks
Islamabad, November 30, 2023 – The Islamabad High Court (IHC) has issued a stay order on Wednesday, suspending the implementation of a one-off 40 percent tax recently imposed by the government on bank profits derived from foreign exchange transactions over the past two years.
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FBR Officials Granted Amnesty for Return Filing: A Stark Mockery of Pakistan’s Taxation System
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) officials, entrusted with upholding Pakistan’s taxation integrity, have been afforded an extraordinary amnesty for filing their income tax returns, a move that is being denounced as a blatant mockery of the nation’s tax structure.
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FBR Freezes Bank Accounts of National Flag Carrier for Rs 2.76 Billion Recovery
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) took stringent action on Wednesday by freezing all bank accounts of Pakistan International Airlines (PIA), the national flag carrier, in an effort to recover an outstanding tax amount of Rs 2.76 billion.
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FBR Plans Harsh Action for Windfall Tax Recovery from Banks
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) is gearing up for stringent measures to recover windfall tax from banks as the payment deadline looms.
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FBR Identifies Challenges in Achieving Rs 9.415 Trillion Target for 2023-24
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has acknowledged the formidable challenges ahead in achieving the ambitious tax collection target of Rs 9.415 trillion for the fiscal year 2023-24.
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FBR Achieves Historic Rs 7 Trillion Collection Milestone, Slightly Misses FY23 Target
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has announced the achievement of a historic milestone by surpassing the Rs 7 trillion collection mark for the first time in the country’s history.
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Pakistan Equities Rally to Record 60,730 Points in Bullish Rampage
Karachi, November 28, 2023 – Pakistan equities witnessed another historic milestone on Tuesday as the bullish rampage continued, propelling the benchmark KSE-100 index to an impressive 60,730 points.
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FBR Directs Stock Investors to Maintain Records for Verification in Tax Year 2024
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has issued a directive to all investors in the Pakistan Stock Exchange (PSX) to maintain comprehensive records for the verification of liability discharge during the tax year 2024.
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