Karachi, October 19, 2024 – In a breathtaking ascent, gold prices in Pakistan surged to an all-time high, hitting Rs 281,800 per tola on Saturday, marking the fourth consecutive record-breaking day in a jaw-dropping rally. The relentless rise in the precious metal’s value has captivated investors and citizens alike, who watch in awe as gold continues its climb to uncharted heights.
(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 Orders Swift Action Against Tax Officials Involved in Flying Invoices
Karachi, October 19, 2024 – The Federal Board of Revenue (FBR) has issued a resolute directive calling for immediate action against tax officials implicated in the facilitation of counterfeit and flying invoices within sales tax returns.
(more…) -
FBR to Launch New Active Taxpayers List on November 1, 2024
Karachi, October 18, 2024 – The Federal Board of Revenue (FBR) is poised to unveil the new Active Taxpayers List (ATL) for the tax year 2024 on November 1, 2024, marking a pivotal moment in Pakistan’s tax management system.
(more…) -
FBR’s Sales Tax Crackdown Triggers Alarm Among Foreign Buyers
Karachi, October 18, 2024 – Major textile exporters have raised concerns about Pakistan’s international reputation following the Federal Board of Revenue’s (FBR’s) aggressive crackdown on sales tax fraud. The Pakistan Textile Council (PTC), representing leading textile and apparel exporters, has issued a stark warning that foreign buyers are losing confidence in the country’s credibility due to the FBR’s recent actions.
(more…) -
E-Intermediaries Face License Cancellation in Tax Fraud Cases
Karachi, October 18, 2024 – The Federal Board of Revenue (FBR) has initiated stringent legal action against e-intermediaries involved in widespread sales tax fraud. This decisive move follows the identification of numerous fraud cases linked to the manipulation of sales tax records, particularly through fake and flying invoices, as well as the suppression of sales.
(more…) -
SBP Suggests Measures to Boost Pakistan’s Tax-to-GDP Ratio
Karachi, October 17, 2024 – The State Bank of Pakistan (SBP) on Thursday proposed a series of tax reforms aimed at significantly increasing the country’s tax-to-GDP ratio, which has stagnated at approximately 10% for the last two and a half decades.
(more…) -
SBP Projects GDP Growth at 3.5% for FY25, Slightly Below Target
Karachi, October 17, 2024 – The State Bank of Pakistan (SBP) has projected the country’s gross domestic product (GDP) growth at 3.5% for the fiscal year 2024-25, just shy of the government’s target of 3.6%.
(more…) -
Gold Prices Hit New Peak at Rs 277,900 in Pakistan
Karachi, October 17, 2024 – Gold prices in Pakistan reached an all-time high on Thursday, with the cost of 24-karat gold rising to Rs 277,900 per tola. The increase reflects a surge in global gold markets, where the precious metal continues to attract investors amid economic uncertainties.
(more…) -
FBR Unveils New Strategy to Break Sales Tax Fraud Networks
Karachi, October 16, 2024 – In a decisive move to dismantle the entrenched practice of sales tax fraud, the Federal Board of Revenue (FBR) has unveiled a robust strategy aimed at curbing the use of fake and flying invoices.
(more…) -
People Turn Flying Invoices Into a Business: FBR Chairman
Karachi, October 16, 2024 – Federal Board of Revenue (FBR) Chairman, Rashid Mahmood Langrial, has expressed grave concern over the widespread sales tax fraud in Pakistan, particularly highlighting how “flying invoices” have morphed into a full-fledged business.
(more…)