Karachi, November 25, 2023 – The caretaker government finds itself in a challenging situation following the recent announcement of a windfall tax on banks, as the amendment necessitates approval from the National Assembly.
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FBR, Pakistan’s national tax collecting agency, plays a crucial role in the country’s economy. Pakistan Revenue is committed to providing readers with the latest updates and developments regarding FBR activities.
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Pakistan Announces Relaxation Period for Afghan Transit Goods Amid New Security Measures
Karachi, November 25, 2023 – Pakistan has declared a relaxation period for Afghan transit goods, alleviating some of the conditions previously imposed, including the requirement for bank guarantees.
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Tax Collection from Dividend Surges 32% in First Four Months of Fiscal Year 2023-24
Karachi, November 24, 2023 – The withholding tax collection from dividend income has experienced a remarkable increase of 32 percent during the initial four months (July – October) of the fiscal year 2023-24, according to provisional data from the Large Taxpayers Office (LTO) in Karachi.
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Pakistan Develops New Documentation Law to Bring Wholesalers and Retailers in Tax Net
Islamabad, November 24, 2023 –Pakistan has developed a new documentation law aimed at bringing wholesalers and retailers under the tax net.
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Banks May Seek Legal Remedy Against Newly Imposed Windfall Tax
Karachi, November 23, 2023 – Banks in Pakistan likely to seek legal remedies in response to the recent imposition of a tax on windfall income or profit.
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FBR Grants Travel Allowance to Tax Officials for Monitoring Duties
Karachi, November 23, 2023 – The Federal Board of Revenue (FBR) has announced the granting of travel allowances to tax officials deployed at business premises of taxpayers for the purpose of monitoring transactions.
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FBR Issues Notification on Windfall Tax Computation for Banks
Islamabad, November 22, 2023 – The Federal Board of Revenue (FBR) has issued a crucial notification on Wednesday, outlining the process for the computation of windfall tax on banks.
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