Karachi, October 4, 2023 – The Pakistan Customs authorities have announced the commencement of physical inspections of Afghan transit goods as they pass through the country’s major trade routes.
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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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Pakistan Imposes Up to 20% Advance Tax on Marriage Functions; Varies for Taxpayers
Karachi, October 4, 2023 –Pakistan has instituted a 20 percent advance tax on individuals organizing marriage functions. However, this rate is not uniform, as those listed in the Active Taxpayers List (ATL) by the Federal Board of Revenue (FBR) will be subjected to a comparatively lower rate of 10 percent.
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Pakistan Announces Mega Operation Against Illegal Foreign Nationals
Islamabad, October 3, 2023 – Pakistan is set to launch a comprehensive operation against illegal foreign nationals residing in the country, with the operation scheduled to begin on November 1, 2023.
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Pakistan Implements Bank Guarantees to Secure Duty and Taxes on Afghan Transit Goods
Karachi, October 3, 2023 – In a bid to bolster customs security and ensure compliance with customs procedures, Pakistan has introduced a new system of bank guarantees for Afghan transit trade goods.
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Pakistan Slaps 10% Processing Fee on Afghan Transit Goods to Curb Smuggling
Karachi, October 3, 2023 – In a bid to curb the rampant smuggling of goods, Pakistan has introduced a 10 percent processing fee for the clearance of Afghan transit trade goods passing through its territory.
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Rupee Remains Strong Against Dollar for 19th Straight Session, Reaching PKR 285.72
Karachi, October 3, 2023 – The Pakistan Rupee (PKR) continues to display remarkable strength against the US Dollar, maintaining its unbeatable streak for the 19th consecutive session. The day concluded with the PKR standing at PKR 285.72 in the interbank foreign exchange market.
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FBR Gains Access to Property Buyer Data to Combat Tax Evasion
Karachi, October 3, 2023 – The Federal Board of Revenue (FBR) in Pakistan has taken a significant step in its ongoing efforts to combat tax evasion by obtaining comprehensive data of property buyers from relevant authorities.
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Pakistan’s Petroleum Sales Plunge by 34% YoY in September 2023
Karachi, October 2, 2023 – Pakistan’s domestic sales of petroleum products experienced a significant decline, plummeting by 34 percent year on year (YoY) in September 2023, according to a report by the research team at Arif Habib Limited.
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Active Taxpayers List Expands to New Record High at 4.78 Million
Islamabad, October 2, 2023 – Pakistan’s Active Taxpayers List (ATL) has reached a historic milestone, with a record high of 4.78 million taxpayers for the tax year 2022.
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Pakistan Witnesses Massive 25% Decline in Imports During First Quarter of FY24
Karachi, October 2, 2023 – Pakistan economy official data reveals a staggering 25 percent decline in imports during the first quarter of the fiscal year 2023-24.
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