Karachi, December 23, 2023 – The Federal Board of Revenue (FBR) has introduced a straightforward procedure for the collection of sales tax on the sale of used vehicles for the tax year 2024.
(more…)Category: Top stories
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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KSE-100 Index Plunges by 988 Points in Week-Ending Bloodbath
Karachi, December 22, 2023 – The KSE-100 Index of the Pakistan Stock Exchange (PSX) continued its downward spiral on Friday, marking another significant plunge of 988 points in the ongoing bloodbath to conclude the week.
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FBR Introduces Rules for Digitalizing Tax Deduction with SWAPS
Karachi, December 22, 2023 – The Federal Board of Revenue (FBR) took a significant step on Friday by unveiling draft rules aimed at digitalizing tax deduction and collection processes through the introduction of SWAPS (Synchronized Withholding Administration and Payment System).
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Committee Formed for Single Sales Tax Return Filing in Pakistan
Karachi, December 21, 2023 – A significant step towards tax reforms has been taken in Pakistan as a committee has been set up for the implementation of a Single Sales Tax Return through a unified portal.
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Iranian Envoy Seeks FBR Collaboration to Streamline Barter Trade
Islamabad, December 21, 2023 – The Iranian envoy to Pakistan, Dr. Reza Amiri Moghaddam, urged the Federal Board of Revenue (FBR) on Thursday to facilitate a smoother flow of barter trade between the two neighboring nations.
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Car Imports in Pakistan Soar Fourfold in November 2023
Karachi, December 21, 2023 – Car imports into Pakistan have surged by an astonishing fourfold during the month of November 2023 on a Year on Year (YoY) basis, according to official data released on Thursday.
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Foreign Diplomats in Pakistan Require Permission for Zero-Rating
Karachi, December 21, 2023 – The Federal Board of Revenue (FBR) has introduced a requirement for foreign diplomats in Pakistan to obtain explicit permission for zero-rating of sales tax supplies.
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Tax Officers Barred from Entering Homes After Sunset for Arrests
Karachi, December 21, 2023 – Tax officers across the country are now prohibited from entering dwelling houses to make arrests after sunset, according to the recently updated Income Tax Rules, 2002 for the tax year 2024.
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FBR Transfers 98 Customs Officers in Mega Reshuffle
Islamabad, December 20, 2023 – In a significant development, the Federal Board of Revenue (FBR) announced a major reshuffle with the transfer and postings of 98 customs officers on Wednesday.
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Pakistan Sharply Cuts Interest Rates on Saving Schemes
Karachi, December 20, 2023 – Pakistan has implemented substantial cuts to the interest rates on saving schemes, despite maintaining a higher benchmark policy rate.
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