Karachi, June 30, 2024 – The Federal Board of Revenue (FBR) has introduced a new tax regime for builders and developers through the Finance Act, 2024, aiming to streamline taxation in the real estate sector.
(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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Site Association Demands Immediate Withdrawal of SRO 350
Karachi, June 30, 2024 – The Site Association of Industry President, Muhammad Kamran Arbi, has once again demanded the government to immediately withdraw the SRO-350, citing its ambiguous nature and the difficulties it has caused for the business community.
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PVMA Threatens Industry Closure Over Tax Inequity
KARACHI: The Pakistan Vanaspati Manufacturers Association (PVMA) has threatened a nationwide closure of factories if the federal government does not withdraw tax concessions granted to ghee factories in the Federally Administered Tribal Areas (FATA) and the Provincially Administered Tribal Areas (PATA).
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ABAD Fears Tax Measures to Divert Real Estate Investment
Karachi, June 27, 2024 – The Association of Builders and Developers (ABAD) has voiced concerns that the tax measures introduced in the 2024-25 budget will redirect the flow of dollars away from Pakistan.
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Budget 2024-25 to Derail Pakistan IT Industry: FPCCI
Karachi, June 27, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) expressed strong concerns on Thursday regarding the measures introduced in the Federal Budget 2024-25, warning that these could derail the country’s information technology (IT) industry.
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Budget 2024-25 Will Promote Smuggling: Gohar Tells CEEJ
Karachi, June 24, 2024 – Muhammad Hanif Gohar, Former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and General Secretary of the United Business Group (UBG) Sindh Zone, voiced strong criticism of the 2024-25 federal budget, warning that it would exacerbate smuggling activities rather than bolster the formal economy.
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FBR Launches Audit of Fertilizer Dealers
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.
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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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