ISLAMABAD: Federal Board of Revenue (FBR) is identifying persons, who are liable to file annual income tax returns but failed to discharge liability, for disabling their mobile phones and utility connections.
(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.
-
Foreign Direct Investment plunges by 51.4pc in July – November
KARACHI: The inflow of foreign direct investment (FDI) fell by 51.4 per cent during first five months (July – November) of fiscal year 2022-2023, State Bank of Pakistan (SBP) said on Friday.
(more…) -
Pakistan’s current account deficit narrows to $3.1 billion in 5MFY23
KARACHI: Pakistan’s current account deficit has narrowed to $3.1 billion during first five months (July – November) of fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Friday.
(more…) -
Karachi Chamber warns mass job cuts due to economic crisis
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday warned the government of mass job cuts due to prevailing economic crisis.
(more…) -
Pakistani exporters fear order cancellation
KARACHI: Now the situation is that the orders of the exporters are feared to be cancelled due to which Pakistan will lose its reputation in the global market.
(more…) -
Pakistan sharply cuts petroleum prices effective from Dec 16, 2022
ISLAMABAD: Pakistan on Thursday sharply reduced the prices of petroleum products for next fortnight effective from December 16, 2022.
(more…) -
Pakistan foreign exchange reserves ease to $12.57 billion
KARACHI: Pakistan foreign exchange reserves have eased by $12 million to $12.57 billion by week ended December 09, 2022, State Bank of Pakistan (SBP) said on Thursday.
(more…) -
FBR decides forensic analysis of audio, video evidence in disciplinary cases
Islamabad: The Federal Board of Revenue (FBR) has taken a significant step towards ensuring the integrity of disciplinary proceedings by deciding to employ forensic analysis for audio and video evidence in cases involving its officials.
(more…) -
FBR promotes 11 IRS officers to BS-21
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday promoted 11 officers of Inland Revenue Service (IRS) with immediate effect.
The following BS-20 officers of Inland Revenue Service are promoted to BS-21 on regular basis with immediate effect:-
READ MORE: FBR notifies promotions of customs officers to BS-21
01. Yousif Hyder Shaikh
02. Afaque Ahmed Qureshi
03. Ms. Tehmina Aamer
04. Syeda Naureen Zahra
05. Nasir Iqbal
06. Khurshid Ahmad Khan Marwat
READ MORE: FBR strictly implementing tax laws for revenue collection
07. Nasir Khan
08. Abid Mehmood
09. Faheem Mohammad
10. Aqeel Ahmed Siddiqui
11. Muhammad Tariq Arbab
The FBR said that the officers already posted/working against BS-21 posts on OPS basis will actualize their promotions against their present places of posting.
The officer at Sr. No. 1 will actualize his promotion at his present place of posting i.e. Commissioner-IR (Appeals-I), Karachi. The said post is hereby upgraded to BS-21 to the personal effect of the officer.
READ MORE: Last date for filing income tax return is Dec 31
The officer at Sr. No. 4 will actualize her promotion at her present place of posting i.e. Chief Commissioner-IR, Regional Tax Office, Sialkot. The said post is hereby upgraded to BS-21 to the personal effect of the officer.
The officer at Sr. No. 6 will actualize his promotion as Member (BS-21), Federal Board of Revenue (Hq), Islamabad.
READ MORE: FTO intervention helps taxpayer to get withholding certificate
The officer at S. No. 9 will actualize his promotion against his present place of posting i.e. Accountant Member (BS-21), Appellate Tribunal Inland Revenue (Bench-II), Islamabad.
The officers if drawing special allowance prior to this notification shall continue to draw this allowance on their promotion.
The FBR congratulated the officers on their promotion to BS-21.
-
Pakistan registers 10pc decline in inflow of foreign remittances
KARACHI: Pakistan has registered around 10 per cent decline in inflows of foreign remittances during first five months (July – November) of current fiscal year.
According to data released by State Bank of Pakistan (SBP) on Wednesday, the inflows of workers remittances declined to $12 billion during first five months of the current fiscal year as compared with $13.29 billion, showing a decrease of 9.7 per cent.
READ MORE: Pakistan remittances decline by 15.7% in October 2022
Experts in financial markets said that overseas Pakistanis were reluctant to send money due to prevailing uncertain exchange rate. Besides, many overseas Pakistanis have option to send their money through informal channels in order to get better exchange rate.
READ MORE: Home remittances decline to $7.68 billion in 1QFY23
The interbank foreign exchange market closed at PKR 224.71 to the dollar on Wednesday December 14, 2022. Whereas, the dollars are not available in the open market and if available the exchange rate has gap of PKR 20 to PKR 30 comparing interbank rates.
READ MORE: Pakistan remittances from Saudi Arabia fall by 7.5% in two months
A sharp decline of 14.23 per cent in inflow of remittances has been recorded in November 2022, when the country received $2.11 billion as compared with $2.46 billion in the same month of the last year.
Similarly, the remittances witnessed a decline of 4.52 per cent on Month on Month (MoM) basis as the country received $2.21 billion in the month of October 2022.