Karachi, October 5, 2023 – The Federal Board of Revenue (FBR) in Pakistan has taken a significant step to expand the tax base by obtaining transaction records of retailers operating in the country. Sources within the FBR have revealed that this move is part of a broader effort to bring more businesses within the tax net.
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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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Pakistani Rupee Surges by 7.65% Against US Dollar Since Hitting Lowest Level
Karachi, October 5, 2023 – The Pakistani Rupee (PKR) has experienced a remarkable strengthening of 7.65 percent against the US dollar since reaching its lowest level on September 5, 2023.
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Pakistan Customs Uncovers Rs 69.5 Billion in Money Laundering Cases Over Five Years
Islamabad, October 4, 2023 – Pakistan’s customs authorities have revealed that they detected money laundering activities worth a staggering Rs 69.5 billion over the past five years.
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Pakistani Rupee on Historic Month-Long Winning Streak Against US Dollar
Karachi, October 4, 2023 – The Pakistani Rupee (PKR) has completed an unprecedented month-long surge against the US dollar, marking a historic turnaround for the local currency.
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Pakistan Expands Negative List for Afghan Transit Trade to Curb Smuggling and Misuse
Karachi, October 4, 2023 – Pakistan has expanded its negative list to prohibit certain goods imported by Afghanistan under transit arrangements, in a move aimed at curbing smuggling and preventing the misuse of transit facilities,
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Pakistan Starts Physical Examination of Afghan Transit Goods
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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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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