Karachi, October 23, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has issued a strong appeal for the protection of genuine taxpayers while urging the Federal Board of Revenue (FBR) to focus its enforcement efforts exclusively on tax evaders.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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RTO Lahore Records 162% Surge in Tax Return Filings for 2024
Lahore, October 22, 2024 – The Regional Tax Office (RTO) Lahore has recorded a remarkable 162% increase in income tax return filings for the tax year 2024.
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Lucky Cement Completes 28.8 MW Captive Wind Power Project
Karachi, October 22, 2024 – Lucky Cement Limited has successfully completed and commissioned its 28.8 MW captive wind power project at its Karachi plant, marking a major milestone in Pakistan’s renewable energy sector. The project, completed on schedule and within budget, officially began operations on October 22, 2024.
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KCCI Urges Govt to Apply Face Recognition for Senior Citizens
Karachi, October 21, 2024 – In response to the persistent struggles faced by millions of senior citizens across Pakistan, the Karachi Chamber of Commerce & Industry (KCCI) has called upon the government to urgently replace the existing biometric verification system with a more advanced face recognition technology.
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APTMA Criticizes FBR for Imposing Affidavit Requirement
Kaan Arshad, Chairman of the All Pakistan Textile Mills Association (APTMA), has vehemently criticized the Federal Board of Revenue (FBR) for its recent mandate requiring textile mills to submit affidavits concerning the tax compliance of their buyers and sellers.
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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.
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Pakistan’s Textile Exports Surge by 9.51% in First Quarter of FY25
Karachi, October 17, 2024 – Pakistan’s textile exports have experienced a robust surge, growing by 9.51% during the first quarter of the fiscal year 2024-25 (July to September) compared to the corresponding period of the previous fiscal year, according to figures released by the Pakistan Bureau of Statistics (PBS) on Thursday.
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FPCCI Hails FBR’s Decision to Defer Affidavit Requirement
Karachi, October 17, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lauded the Federal Board of Revenue’s (FBR) decision to temporarily defer the contentious requirement of an affidavit for sales tax returns. The FPCCI’s stance was clearly communicated by its president,
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KCCI Advises FBR to Delay Affidavit Condition for Sales Tax Filings
Karachi, October 16, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly urged the Federal Board of Revenue (FBR) to reconsider the recently imposed requirement for taxpayers to submit an affidavit alongside their sales tax return filings. This advisory comes in light of growing concerns about the potential implications of this regulation on the business community.
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FPCCI Criticizes KP and Balochistan for Levying Cess
Karachi, October 10, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has strongly condemned the recent decisions by the governments of Khyber Pakhtunkhwa (KP) and Balochistan to impose an Infrastructure Development Cess (IDC) on both imports and exports.
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