Karachi, December 2, 2024 – The Federal Board of Revenue (FBR) has introduced significant amendments to the rules governing the temporary import of vehicles by tourists into Pakistan. These changes, formalized through SRO 1965(I)/2024 on November 27, 2024, modify Rule 77 of the Customs Rules, 2001, with stricter conditions and streamlined processes.
(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 Implements Sunday Reshuffle of IRS Officers
Karachi, December 1, 2024 – In an uncommon weekend move, the Federal Board of Revenue (FBR) announced a significant reshuffling of Inland Revenue Service (IRS) officers, signaling its urgency to address a growing revenue shortfall.
(more…) -
Tax on Telephone and Internet Users in Pakistan for TY 2025
Karachi, December 1, 2024 – The Federal Board of Revenue (FBR) has reiterated its policy of collecting advance income tax from telephone and internet users under Section 236 of the Income Tax Ordinance, 2001.
(more…) -
Fake Sales Tax Invoices Land CFOs in Hot Water with FBR
Karachi, December 1, 2024 – Chief Financial Officers (CFOs) of companies implicated in submitting fake sales tax invoices are under strict scrutiny by the Federal Board of Revenue (FBR). The national tax agency has vowed to take severe actions against individuals and organizations involved in such fraudulent practices, which have caused significant losses to the national exchequer.
(more…) -
FBR Faces Expanding Revenue Shortfall in November 2024
Islamabad, December 1, 2024 – The Federal Board of Revenue (FBR) is grappling with an expanding revenue shortfall for November 2024, compounding challenges in meeting the national tax agency’s collection targets for the fiscal year.
(more…) -
Pakistan Hikes Petrol and Diesel Prices for Early December 2024
Islamabad, November 30, 2024: The government of Pakistan has announced an increase in the prices of key petroleum products for the first half of December 2024. The adjustment, based on recommendations from the Oil and Gas Regulatory Authority (OGRA), reflects global market trends and rising oil prices.
(more…) -
PIA Will Get Higher Bids After EASA Lifts Ban: Khawaja Asif
Sialkot, November 30, 2024 – Aviation Minister Khawaja Asif welcomed the European Commission and the European Aviation Safety Agency’s (EASA) decision to lift the suspension on Pakistan International Airlines (PIA), expressing optimism about its positive impact on the privatization process of the indebted national carrier.
(more…) -
PSX Expected to Maintain Positive Momentum Coming Week
The Pakistan Stock Exchange (PSX) is expected to maintain its upward trajectory in the upcoming week, with analysts at Arif Habib Limited forecasting further gains fueled by declining inflation expectations. Analysts predict that the inflation rate for November 2024 will ease to 4.7% year-on-year (YoY), a development likely to boost investor sentiment and push the PSX higher.
(more…) -
FBR Grants Tax Exemption to Overseas Pakistanis on Properties
Karachi, November 29, 2024 – The Federal Board of Revenue (FBR) has announced an extension of tax exemptions for overseas Pakistanis involved in property transactions, reaffirming its commitment to facilitating expatriates.
(more…) -
KSE-100 Hits New Record at 101,357 Points Amid Market Rally
Karachi, November 29, 2024 – The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) reached an all-time high of 101,357 points on Friday, marking a gain of 1,274 points from the previous day’s close of 100,083 points.
(more…)