Govt imposes new asset purchase restrictions for undeclared income
The government has imposed new restrictions on asset purchases for individuals who fail to declare sufficient income.
Go to articleThe government has imposed new restrictions on asset purchases for individuals who fail to declare sufficient income.
Go to articleA delegation from the Pakistan Advertisers Association (PAA) today represented the advertising and marketing communications sector at the Post-Budget Consultative Meeting on Tax Anomalies convened by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI).
Go to articleThe federal government has greenlit a new taxation framework targeting private online educational platforms and independent digital instructors, as authorities ramp up efforts to formalize high-revenue sectors operating outside the tax net.
Go to articleIn a significant tax reform move, the Sindh Finance Bill 2025 proposes a complete structural shift
Go to articleThe telecom operator is now liable to pay approximately Rs22 billion ($78 million) in taxes on the gain from its transaction...
Go to articleFor the first time in Pakistan, the federal government has introduced a sweeping new tax regime targeting the digital economy
Go to articleThe Federal budget FY2025- 26 proposes strict penalties for tax fraud, including fines of up to Rs10 million, imprisonment for up to 10 years, full tax recovery, and an additional penalty equal to 100% of the tax loss for any deliberate act or omission intended to cause such a loss...
Go to articleThe Overseas Investors Chamber of Commerce and Industry (OICCI) has expressed disappointment over the government’s limited progress in addressing the inequitable corporate tax rate in the recent budget...
Go to articleThe federal government has introduced a revised tariff regime in the Budget 2025–26, featuring new slabs of 5%, 10%, and 15% while abolishing the earlier 3%, 11%, and 16% rates...
Go to articlePakistan’s formal negotiations on reciprocal tariffs with the US were initiated today through a telephonic/conference call between Muhammad Aurangzeb...
Go to articleThe government is committed to shifting the tax burden away from the already compliant formal sector and salaried class towards segments of the economy that...
Go to articleThe Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has demanded that the government review the Income Tax Amendment Ordinance...
Go to articleTo broaden the tax base and tackle evasion, Prime Minister Shehbaz Sharif has instructed authorities to take firm action against...
Go to articleThis could be Pakistan’s last International Monetary Fund (IMF) programme, but only if structural reforms are implemented...
Go to articleThe government is committed to addressing the challenges in the dairy sector, particularly by reviewing the impact of the 18% General Sales Tax (GST) on...
Go to articleThe government has devised an alternative plan to cover the Rs605 billion revenue shortfall by settling tax cases currently under trial in courts instead of...
Go to articleThe government, by maintaining the windfall tax, has successfully collected Rs23 billion from 16 banks...
Go to articleIn an effort to enhance the understanding and application of ADR in tax governance, the International Mediation & Arbitration...
Go to articleThe Federal Cabinet has approved the establishment of a Tax Policy Office (TPO) at the Ministry of Finance to build on the government's economic reform agenda..
Go to articleThe Large Taxpayers Office (LTO) Karachi has taken decisive action by sealing an outlet of Zelbury, a well-known online fashion shopping platform, for issuing..
Go to articleKarachi's Large Tax Office (LTO) collected over Rs2.52 trillion, maintaining its position as the highest tax contributor, according to the Federal Board of....
Go to articlePakistan’s economy could face an output contraction of 0.3% in the second half of the fiscal year 2025 due to the implementation of new taxes totaling Rs900...
Go to articleFederal Board of Revenue (FBR) tax collection for December 2024 clocks in at Rs1.32 billion, achieving 97% of the monthly target...
Go to articleThe government of Pakistan is taking serious measures to strengthen the economy by streamlining the tax system, eliminating tax evasion, boosting national....
Go to articlePrime Minister Muhammad Shehbaz Sharif has directed authorities to bring tax defaulters into the tax net and take strict action against non-compliance...
Go to articleThe government remains dedicated to increasing the country’s tax-to-GDP ratio...
Go to articlePakistan Business Council (PBC) urged the government to reduce the withholding tax by 2% on export receipts for low-margin items and a review of the Export...
Go to articleThe Federal Board of Revenue (FBR) has collected Rs237 billion as federal excise duty (FED) from cigarettes during the fiscal year 2023-24...
Go to articlePakistan’s Tax-to-Gross Domestic Product (GDP) ratio remained low in fiscal year 2023-24 compared to its development needs...
Go to articleThe government has refused claims made by certain electronic media channels regarding the International Monetary Fund's (IMF) supposed rejection...
Go to articleFBR has launched an advanced Stock Register system via the Information Center 2.0 platform...
Go to articleThe Federal Board of Revenue (FBR) has once again extended the deadline for filing Income Tax Returns from October 14 to October 31, 2024...
Go to articleThe finer print of the International Monetary Fund program, which included increasing taxes by a record 40%, has caused panic across Pakistan...
Go to articleThe ACT Alliance Pakistan on Tuesday praised the government’s efforts to boost tax revenue but urged immediate action to fix problems...
Go to articleFederal Minister for Finance, and Revenue Muhammad Aurangzeb on Tuesday said that non-tax filer will have to face restriction on purchasing property, vehicles..
Go to articleAfter denying media reports about an extension for filing tax returns for 2024, the Federal Board of Revenue (FBR) has finally extended the deadline from...
Go to articleThe Federal Board of Revenue (FBR) has refuted all media reports claiming an extension of the deadline for filing income tax returns for the tax year 2024...
Go to articlePakistan’s government will need to continue tapping into its salaried class and manufacturing sector for tax revenue generation if untaxed or undertaxed...
Go to articleThe Executive Directors of the International Monetary Fund (IMF) welcomed government's steps taken toward a fairer tax system...
Go to articleThe government is planning to abolish the category of non-filers from the tax laws to increase its revenue and promote long-term economic growth...
Go to articleThe Federal Board of Revenue (FBR) will not extend the September 30, 2024, deadline for filing tax returns...
Go to articleThe Federal Board of Revenue (FBR) collected Rs1.456 trillion during the first two months of fiscal year 2024-25, falling short by Rs98bn against the target...
Go to articleThe Federal Board of Revenue (FBR) is facing a revenue shortfall of over Rs100 billion for August, sources close to the matter revealed...
Go to articleThe government’s burden of sales tax refund payments to exporters and companies has reached a staggering Rs85 billion, according to sources, causing...
Go to articleThe appointment of Rashid Mahmood as the new chairman of the Federal Board of Revenue (FBR) has sparked controversy, as dozens of senior FBR officers...
Go to articleThe Federal Board of Revenue (FBR) has successfully achieved the revenue target for July 2024 with a collection of Rs659.2 billion...
Go to articleIn response to the Karachi Chamber of Commerce & Industry (KCCI)’s request to eliminate the Fixed Tax Regime, Finance Minister Muhammad Aurangzeb affirmed...
Go to articleThe salaried class in Pakistan is paying up to 9.4 times more tax than in India, according to Pakistan Business Council (PBC)...
Go to articleThe government was planning to tax agricultural income as per the International Monetary Fund's conditions, however, the provincial governments...
Go to articleMilk prices in Pakistan surged by more than a fifth after a new tax was applied, making the dairy staple more expensive than in France, Australia...
Go to articleThe National Clearing Company of Pakistan Limited (NCCPL) has announced the applicable rates for withholding tax...
Go to articleTo encourage companies to engage in an IPO and list on the Exchange, the Pakistan Stock Exchange has proposed to the Ministry of Finance (MoF)...
Go to articleThe government has achieved the petroleum levy tax collection target for the fiscal year 2023-2024 within the first eleven months...
Go to articleFBR have unearthed a network of tax fraudsters who have caused a loss of billions of rupees to the National Exchequer...
Go to articleThe Federal Board of Revenue (FBR) has successfully surpassed its revenue target for May in the fiscal year 2023-24 by collecting Rs760 billion...
Go to articleThe Overseas Investors Chamber of Commerce and Industry (OICCI) is deeply concerned about the news of British American Tobacco (BAT) company’s warning...
Go to articlePakistan Customs has successfully completed business process mapping of its core functions during the first five months of the World Bank-funded project...
Go to articleThe Federal Board of Revenue (FBR) has blocked around 11,250 SIM cards of non-filers under Income Tax General Order to curb tax evasion...
Go to articlePakistan Retail Business Council (PRBC) underscored the need to integrate the untaxed undocumented retail sector into the tax net and addressed various....
Go to articlePakistan's economic team has presented a comprehensive macroeconomic framework to the International Monetary Fund...
Go to articleThe Pakistan Business Council (PBC) has proposed to increase the advance income tax on electricity bills for non-filers to 30%, up from the current 12%...
Go to articleTo broaden the tax base, PBC in a letter to FM has recommended to implement steps taken by Indian government...
Go to articleThe representatives of the trade unions on Friday emphasized the need for clearer guidelines on taxation for newly registered traders under the....
Go to articleThe Pakistan Telecommunication Authority (PTA) on Thursday said that the national exchequer has not experienced any loss of revenue on account of blocking...
Go to articleFormal discussions between Pakistan and the International Monetary Fund (IMF) will kick off from tomorrow for a longer and bigger program...
Go to articleThere are risks of shortfalls in tax revenue in April and May 2024 due to holidays that will see port closures and weigh on revenue collection...
Go to articleThe Pakistan Tax Bar Association (PTBA) has put forth a comprehensive set of proposals aimed at boosting tax revenues in the upcoming fiscal year of 2024-25...
Go to articleThe Power Division has refuted media reports claiming that the government has imposed a fixed tax on solar power, as revealed in the latest notification...
Go to articleTo streamline and update procedures within the Federal Excise Act, certain amendments have been proposed for simplification and harmonization through the...
Go to articlePrime Minister Shehbaz Sharif has instructed the Ministry of Finance to present a compressive plan to increase revenue without burdening the common....
Go to articleThe Federal Board of Revenue (FBR) has collected Rs835 billion as of March 29, 2024, around Rs44bn short of...
Go to articleIn line with the vision of the Prime Minister of Pakistan to transform Federal Board of Revenue (FBR) into a Digital Tax Administration, FBR has
Go to articleThe newly elected Finance Minister Muhammad Aurangzeb on Wednesday stressed the urgent need for digitizing the Federal Board of Revenue of Pakistan (FBR)...
Go to articlePak Suzuki Motor Company Limited (PSX: PSMC) has raised the price of its Swift G. CVT model by Rs304,000, effective from March 08, 2024, as per...
Go to articleTalking about the significance of tax collection and compliance, Malik Amjed Zubair Tiwana, Chairman of the Federal Board of Revenue (FBR) on Sunday....
Go to articleHe (Biden) also wants to quadruple the tax companies must pay when they buy back their stock to 4% from 1%....
Go to articleThe federal government has amended descriptions regarding the supply of locally manufactured goods, on which it imposed a 25%...
Go to articleOn the directions of the newly elected Prime Minister, Muhammad Shehbaz Sharif, the Federal Board of Revenue (FBR) has instructed Field Formations...
Go to articleThe Federal Board of Revenue (FBR) has successfully achieved the revenue collection target for the first eight months of FY24, collecting Rs5.83 trillion...
Go to articlePakistan has disbursed a total of $7.3 billion as debt and interest payments during the six months ended on December 31, 2023....
Go to articlehe Federal Board of Revenue (FBR) has collected revenue of Rs5.15 trillion since July 2023 to mid of February 2024 against Rs3.97tr over the same period...
Go to articleThe Federal Board of Revenue (FBR) fell short of its target in January 2024, collecting Rs681 billion instead of the targeted Rs690bn...
Go to articleThe government has agreed on contingency revenue measures with the International Monetary Fund (IMF), which includes imposing a federal excise duty (FED) of...
Go to articleThe Federal Board of Revenue (FBR) has made history by collecting over Rs1 trillion in the month of December for the first time ever...
Go to articleMultan Chamber of Commerce and Industry (MCCI) has urged the Federal Board of Revenue (FBR) to grant a year-long grace period to businesses for training and...
Go to articlePakistan has reached an agreement with the International Monetary Fund (IMF) for key targets in FY25, which includes a tax collection target of more than...
Go to articleThe Federal Board of Revenue (FBR) has successfully achieved the revenue collection target for the first fifth consecutive months of FY24 by...
Go to articleThe Federal Board of Revenue (FBR) collected Rs70.33 billion withholding tax on sales of immovable properties in FY23, which is a massive 340.5% YoY growth...
Go to articleMonitoring teams from Field formations of the Federal Board of Revenue (FBR) have been deployed to sugar mills across the country to curb.....
Go to articleAs part of restructuring measures, the Federal Board of Revenue (FBR) has established 145 District Tax Offices which will focus on....
Go to articleThe government is actively working to separate the tax policy and tax administration functions of the Federal Board of Revenue...
Go to articleThe government plans to increase gas prices starting January 2024, caretaker finance minister Dr Shamshad Akhtar stated while addressing the media on Thursday..
Go to articleThe Federal Cabinet in its meeting held today approved the negotiation of bilateral investment treaties with Saudi Arabia and Qatar...
Go to articleThe Federal Cabinet in its meeting held today has approved a 40% windfall tax on banks' foreign currency...
Go to articleA meeting of the federal cabinet begins in Islamabad on Wednesday, with an agenda comprising 11 points set to be discussed...
Go to articleOctober was a good month for exchequer. Reportedly, FBR collected Rs707 billion in the month, a whopping 37% YoY growth...
Go to articleThe Supreme Court has extended the tax relief provision under section 7E to defer 50% of tax liability, offering taxpayers a reprieve amid pending petitions...
Go to articleFederal Board of Revenue (FBR) chairman has confirmed that there are no plans to impose new taxes in Pakistan, according to sources familiar with the matter...
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BITCOIN FUTURES | 106,620.00 | 106,635.00 105,440.00 |
870.00 0.82% |
BRENT CRUDE | 67.17 | 67.29 67.05 |
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ROTTERDAM COAL MONTHLY | 103.80 | 103.80 103.80 |
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USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
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0.04 0.06% |
SUGAR #11 WORLD | 15.70 | 16.21 15.55 |
-0.50 -3.09% |
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3223 | Pr32ice | Chan2ge |
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