Islamabad – The International Monetary Fund (IMF) has projected Pakistan’s economic growth to reach 3.2% for the fiscal year 2024-25, marking an improvement from the 2.4% growth achieved in the previous fiscal year. This optimistic forecast comes as part of the IMF’s latest assessment following the approval of a $7 billion Extended Fund Facility (EFF) programme aimed at stabilizing Pakistan’s fragile economy.
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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.
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PTBA Urges FBR for Urgent Filing Deadline Extension Amid Chaos
Karachi, September 28, 2024 – The Pakistan Tax Bar Association (PTBA) has issued an urgent plea to the Federal Board of Revenue (FBR), citing the dysfunctional state of the IRIS tax return filing portal.
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FBR Urges Citizens to Use IRIS Portal for Tax Information
Islamabad, September 28, 2024 – The Federal Board of Revenue (FBR) has issued a formal advisory urging citizens to access tax-related information through the IRIS tax returns portal rather than relying on the malfunctioning Tax Maloomat system.
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Mari Petroleum Helicopter Crashes in North Waziristan, Six Dead and Eight Injured
Islamabad, September 28, 2024 – A tragic helicopter crash in North Waziristan on Saturday afternoon claimed the lives of at least six people, with eight others suffering injuries. The helicopter, operated by Mari Petroleum, one of Pakistan’s leading oil and gas exploration companies, went down due to an engine malfunction, according to initial reports.
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FBR to Redefine Non-Filers Amid Sweeping Crackdown
Islamabad, September 28, 2024 – In a decisive move aimed at intensifying its crackdown on tax evasion, the Federal Board of Revenue (FBR) is poised to redefine the term “non-filers” under the Income Tax Ordinance, 2001.
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FBR Notifies Working Groups for Ambitious Transformation Plan
Islamabad, September 27, 2024 – The Federal Board of Revenue (FBR) has announced the formation of multiple working groups to develop and implement the FBR’s ambitious Transformation Plan.
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Taxpayers Await FBR Decision on Deadline Extension for Income Tax Returns
Karachi, September 27, 2024 – As the Federal Board of Revenue (FBR) approaches the September 30 deadline for the filing of income tax returns for the fiscal year 2024, taxpayers and tax professionals across the country are increasingly voicing concerns over the feasibility of meeting this target.
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FBR Overhauls POS Prize Scheme, Targets Unverified Invoices
Karachi, September 27, 2024 – In a significant move aimed at promoting tax compliance and transparency, the Federal Board of Revenue (FBR) has made sweeping changes to the Point of Sale (POS) Prize Scheme, as announced through SRO 1513(I)/2024 issued on September 26, 2024. The revised scheme primarily targets customers reporting unverified invoices issued by Tier-1 retailers.
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FBR to Launch Tax Campaign Before Penalty Enforcement
Islamabad, September 26, 2024 – The Federal Board of Revenue (FBR) announced on Thursday that it will initiate a nationwide awareness campaign to promote tax compliance before introducing strict penalties for tax evaders. The campaign is part of the government’s broader efforts to improve Pakistan’s tax compliance culture and ensure that all eligible taxpayers fulfill their legal obligations.
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Profit Repatriation Surges 461% in First Two Months of FY25: SBP
Karachi, September 26, 2024 — The repatriation of profits and dividends by foreign companies operating in Pakistan surged by an astounding 461% during the first two months (July-August) of the current fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Thursday.
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