Islamabad, July 11, 2023 – In a significant move, the Federal Board of Revenue (FBR) has delegated the authority to conduct anti-smuggling operations to various law enforcement agencies (LEAs) in Pakistan.
(more…)Category: Top stories
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.
-
Pakistani Rupee Makes Recovery Against US Dollar, Ends at PKR 278.57
Karachi, July 11, 2023 – The Pakistani Rupee (PKR) demonstrated a remarkable recovery against the US dollar on Tuesday, closing at PKR 278.57 in the interbank foreign exchange market. This positive trend reflects a gain of PKR 1.23 in the rupee’s value compared to the previous day’s closing rate of PKR 279.80.
(more…) -
FBR Officials Given Deadline for Furnishing Asset Declaration
The Federal Board of Revenue (FBR) has set a deadline of July 15, 2023, for all officers of the Inland Revenue Services (IRS) and Pakistan Customs Services (PCS) to submit their Declaration of Assets and Liabilities for the fiscal year ending on June 30, 2023.
(more…) -
Fitch Upgrades Pakistan’s Rating on Enhanced Liquidity and Funding Conditions
Pakistan’s Foreign-Currency Issuer Default Rating (IDR) has been upgraded by Fitch Ratings from ‘CCC-‘ to ‘CCC,’ signaling improved external liquidity and funding conditions, according to a statement issued Monday.
(more…) -
Remittances Plunge by Approximately 14% in 2022-23, Reveals State Bank of Pakistan
Karachi, July 10, 2023 – Workers’ remittances flowing into Pakistan have experienced a significant decline of around 14%, amounting to $24.02 billion in the fiscal year 2022-23, according to official data released by the State Bank of Pakistan (SBP) on Monday.
(more…) -
Pakistani Rupee Sharply Decreases Against US Dollar
Karachi, July 10, 2023 – The Pakistani rupee (PKR) on Monday recorded a sharp decrease against the US dollar, ending at PKR 278.80 to the dollar. This was a decrease of PKR 1.9 from the previous day’s closing rate of PKR 277.90.
(more…) -
Beauty Parlors in Islamabad Required to Pay 15% Sales Tax on Services
In a recent development, beauty parlors and beauty clinics operating within the jurisdiction of Islamabad Capital Territory (ICT) are now obligated to pay a 15 percent sales tax on services, as per updated laws issued by the Federal Board of Revenue (FBR).
(more…) -
Tax Return Filing for Year 2023 Begins in Pakistan
Islamabad, July 8, 2023 – The filing of annual income tax returns and statements of assets for the tax year 2023 has officially commenced in Pakistan, according to official sources from the Federal Board of Revenue (FBR). The FBR opened its return filing portal, known as IRIS, on July 1, 2023, covering the period from July 1, 2022, to June 30, 2023.
(more…) -
FBR Apparently Achieves Rs7.2 Trillion Collection Target for FY23
Islamabad, July 8, 2023 – The Federal Board of Revenue (FBR) has reportedly achieved its revenue collection target of Rs7.2 trillion for the fiscal year 2022-23, according to sources.
(more…) -
Pakistan’s Middle Class Bears Brunt of Inflation as Kitchen Item Prices Soar
Islamabad, July 7, 2023 – Pakistan’s middle class is grappling with the impact of rising inflation, particularly the surge in prices of essential kitchen items, according to official data released by the Pakistan Bureau of Statistics (PBS) on Friday.
(more…)