Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) has initiated a nationwide audit of urea and fertilizer dealers to ensure they accurately report their earnings and pay the appropriate amount of income tax. According to an FBR statement issued on Monday, audit notices have been sent out to 437 cases.
(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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Aurangzeb Assures PBC of Addressing Budget Concerns
Islamabad, June 24, 2024 – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, assured the Pakistan Business Council (PBC) on Monday that their recommendations would be considered in the finalization of the 2024-25 budget.
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KATI Sounds Alarm: Fixed Tax Abolition Threatens Export Industry
Karachi, June 24, 2024 – The Korangi Association of Trade and Industry (KATI) has issued a stern warning to the authorities, asserting that the proposed abolishment of the Fixed Tax Regime for exports will devastate the industry.
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SMAP Roils Over Proposed Tax Regime Shift in Pakistan
Karachi, June 23, 2024 – The Salt Manufacturers Association of Pakistan (SMAP) has become the latest industry group to voice strong opposition to a key provision in the recently unveiled federal budget.
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Engro Fertilizers Completes Largest EnVen Turnaround
Karachi, June 21, 2024: Engro Fertilizers has successfully completed the largest-ever scheduled maintenance activity of its EnVen Plant, wrapping up the 55-day turnaround on June 18, 2024.
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Anomaly Committee Calls for Review of New Exporters Tax Regime
Karachi, Pakistan – June 21, 2024 – Pakistan’s business community is calling for a reevaluation of a key provision in the recently unveiled Finance Bill 2024. The proposed change, a shift from a fixed tax regime for exporters to a regular tax system, has raised concerns and prompted a high-level meeting at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
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Exporters in Scramble to Avoid Tax Regime Shakeup
Islamabad, June 21, 2024 – Pakistan’s export sector is in a state of flux as exporters scramble to negotiate a way out of the proposed changes to their tax regime outlined in the Finance Bill 2024.
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Pakistan Ramps Up Real Estate Taxation in Finance Bill 2024
Karachi, Pakistan – June 16, 2024 – The real estate sector in Pakistan, long considered under-taxed, is facing a tightening noose from the government.
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Tax Changes for Exporters Threaten Forex Reserves, Warn Experts
Karachi, Pakistan – June 16, 2024 – Leading tax experts at KPMG Taseer Hadi & Co. have raised concerns about the impact of tax changes for exporters proposed in the Finance Bill 2024 on Pakistan’s foreign exchange reserves.
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Finance Bill 2024: Tax Changes Impact on Manufacturing Sector
The cyclical nature of Pakistan’s manufacturing sector plays a pivotal role in shaping the overall economy, as it is intricately linked to the Composite Leading Indicator (CLI).
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