Islamabad, January 20, 2025 – The National Assembly is set to approve the “Tax Laws (Amendment) Bill, 2024,” which aims to overhaul the taxation regime by abolishing higher withholding tax rates for non-filers.
(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.
-
FBR Acquires 5-Year Data on Car Purchases by Non-Filers
Karachi, January 19, 2025 – The Federal Board of Revenue (FBR) has acquired extensive data on car purchases made over the past five years to initiate a crackdown on individuals with taxable income who have failed to meet their tax obligations.
(more…) -
Pakistan Triumphs Over West Indies with 127-Run Win in First Test
Multan, January 19, 2025 – Pakistan delivered an emphatic performance to defeat the West Indies by 127 runs in the first Test match at the Multan Cricket Stadium on Sunday. This victory marks a continuation of Pakistan’s dominant form at home, with captain Shan Masood achieving his third consecutive Test win on Pakistani soil.
(more…) -
Transit Trade Monitoring Debacle: Call for Thorough Probe
The Federal Board of Revenue (FBR) has recently brought grave allegations against a company entrusted with the critical task of monitoring and tracking cargo in transit.
(more…) -
FBR to Pay Interest at KIBOR for Delayed Sales Tax Refunds
Karachi, January 18, 2025 – The Federal Board of Revenue (FBR) has confirmed its obligation to pay interest on delayed sales tax refunds at the annual Karachi Interbank Offered Rate (KIBOR).
(more…) -
Sindh Initiates Real-Time Property Transaction Sharing with FBR
Karachi, January 18, 2025 – In a landmark move to bolster transparency and enhance tax compliance, the Sindh province has commenced real-time sharing of property transaction details with the Federal Board of Revenue (FBR).
(more…) -
Pakistan Celebrates Historic $1.21 Billion CA Surplus in 1HFY25
Karachi, January 17, 2025 – Pakistan has reached a remarkable milestone, posting a record $1.21 billion current account (CA) surplus for the first half of fiscal year 2024-25 (January – December 2024), according to the State Bank of Pakistan (SBP). This achievement marks a significant turnaround from the $1.40 billion deficit recorded during the same period in the previous fiscal year.
(more…) -
PM Shehbaz Warns FBR: No Tolerance for False Cases
Prime Minister Shehbaz Sharif issued a stern warning to officials of the Federal Board of Revenue (FBR) on Thursday, emphasizing that any individual found fabricating cases or presenting weak grounds in tax-related matters will face exemplary punitive actions. This declaration underscores the premier’s zero-tolerance policy towards malpractice and inefficiency within the revenue body.
(more…) -
FBR Establishes Data Governance Office
Islamabad, January 16, 2025 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing its data management capabilities by announcing the establishment of a dedicated Data Governance Office. This initiative aligns with the recently approved Data Governance and Information Security Policy of the FBR.
(more…) -
Pakistan Records $73 Million Gain in Foreign Exchange Reserves
Karachi, January 16, 2025 – The net foreign exchange reserves of Pakistan witnessed a notable increase of $73 million on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. This marks a positive development for the country’s financial stability amid ongoing economic challenges.
(more…)