Islamabad, August 21, 2023 – In a significant milestone for Pakistan’s revenue collection efforts, the Federal Board of Revenue (FBR) has announced that the number of active taxpayers in the country has reached a record high of 4.43 million.
(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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US Dollar Gains Ground, Exchanging for PKR 296.25 in Midday Trading
Karachi, August 20, 2023 – The Pakistani Rupee (PKR) faced mounting pressure against the US dollar during midday trading on Monday, with the rupee weakening by 47 paisas to reach PKR 296.25 against the dollar in interbank trading.
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Salary Taxation in Pakistan: FBR Issues Updated Guidelines
Islamabad, August 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently released an updated structure of taxation on salary income, with the new regulations coming into effect on July 1, 2023.
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FBR Sets Heavy Penalties for Income Concealment
Karachi, August 20, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards promoting tax transparency and accountability by prescribing penalties for the concealment of income.
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PKR May Face Increasing Pressure Against Dollar for Week Starting August 21
Karachi, August 20, 2023 – The Pakistani Rupee (PKR) is anticipated to encounter mounting pressure against the US dollar in the upcoming week commencing on August 21, 2023.
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Punjab Government Unveils Taxation Structure for Immovable Property
Islamabad, August 20, 2023 – The Punjab government’s finance division has released a comprehensive report detailing the various types of taxes imposed on immovable property in the province.
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KCCI Criticizes FBR Over Section 7E Discrimination in Property Selling
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has strongly criticized the Federal Board of Revenue (FBR) for what it perceives as discriminatory treatment in the application of Section 7E concerning property sales.
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Pakistan Issues Income Tax Rates for Foreign Shipping and Air Transport
Karachi, August 19, 2023 – Pakistan has officially released the income tax rates applicable to foreign shipping and air transport for the tax year 2023-24, which commenced on July 1, 2023.
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Punjab Leads in Motor Vehicle Tax Collection in FY23: Official Stats
Karachi, August 19, 2023 – Punjab has emerged as the frontrunner in the collection of motor vehicle tax for the fiscal year 2022-23, as per recent official statistics released by the federal finance ministry of Pakistan.
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Caretaker Finance Minister Advises FBR to Enhance Tax to GDP Ratio
Islamabad, August 18, 2023 – The newly appointed Caretaker Finance Minister, Shamshad Akhtar, has issued a directive to the Federal Board of Revenue (FBR) to focus on improving the tax to GDP ratio.
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