Islamabad, February 19, 2024 – The Federal Board of Revenue (FBR) has officially initiated the process of gathering customs duty proposals for the upcoming budget of 2024-25, inviting input from all chambers of commerce and industry.
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Pakistan Budget FY24: Key Taxation Measures Likely Through Finance Bill 2023
Pakistan is set to present its budget for the fiscal year 2023-2024, and experts have highlighted key taxation measures that may be included in the Finance Bill 2023. Here are the anticipated taxation measures as outlined by Insight Securities:
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Pakistan Budget Preview For Fiscal Year 2023-2024
Karachi, June 7, 2023 – Pakistan is gearing up to announce its crucial budget for the Fiscal Year 2023-2024 on June 9, 2023. This budget holds significant importance as the country faces multiple crises, including devastating floods and a deteriorating external account position, compounded by political challenges.
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FBR Urged to Ensure Strict Return Filing Compliance Among Professional Body Members
The Federal Board of Revenue (FBR) has received recommendations to strengthen the enforcement of income tax return filing by members of professional bodies.
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FBR to Scrutinize Taxpayers for Nil Payment, Targets Underreporting
The Federal Board of Revenue (FBR) is considering implementing special measures to examine taxpayers who filed their annual returns without making any tax payments.
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RRMC Recommends Simplified Sales Tax Return for Enhanced Compliance
The Revenue and Reform Mobilization Commission (RRMC) has proposed a simplified sales tax return system to bolster compliance among taxpayers.
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Pakistan Urged to Implement Urgent Measures to Stem Foreign Currency Outflow
In a bid to address the escalating issue of illegal transfer of foreign currencies outside Pakistan, the Pakistan Hotels Association has submitted proposals for the budget of 2023-2024.
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Karachi Tax Bar Association Proposes Sales Tax Relief for Non-Profit Organizations
The Karachi Tax Bar Association (KTBA) has presented a tax proposal aimed at providing relief to charitable and non-profit organizations engaged in charitable activities.
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KTBA Raises Concerns Over Undescribed Timelines under Sales Tax Law
The Karachi Tax Bar Association (KTBA) has recently highlighted the issue of undescribed timelines under the Sales Tax Law in Pakistan.
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FPCCI Proposes Dollar Amnesty Scheme to End Exchange Rate Volatility
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
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