Pakistan and the World Bank held discussions on Tuesday to develop a robust and transparent tax policy framework aimed at boosting revenue mobilization, improving compliance, and ensuring equitable taxation.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Read More...
The Federal Board of Revenue (FBR) has reiterated its policy of collecting advance income tax from telephone and internet users under Section 236 of the Income Tax Ordinance, 2001.
The FBR stated that the tax rates outlined in the Income Tax General Order (ITGO) apply to individuals not Read More...
The Pakistan Carpet Manufacturers and Exporters Association (PCMEA) has called for immediate relief from customs duties that are severely hampering the survival and growth of the carpet manufacturing Read More...
The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to remove the Minimum Retail Price (MRP) regulation from the tax valuation of tea. In a statement issued on Monday, KCCI President Muhammad Jawed Bilwani expressed strong opposition to the recent decision by the Read More...
The Appellate Tribunal Inland Revenue (ATIR) Islamabad dismissed an appeal filed by the Federal Board of Revenue (FBR) against M/s. Supernet Limited. The tribunal ruled the appeal non-maintainable under the amended provisions of the Income Tax Ordinance, 2001, introduced through the Tax Laws Read More...
Foreign investors operating in Pakistan repatriated over $807 million under the head of profit and dividends during the first four months (July–October) of the fiscal year 2024-25, according to official data released on Read More...
Pakistan’s net foreign exchange (forex) reserves have risen by $108 million for the week ending November 22, 2024, according to the State Bank of Pakistan (SBP) report released on Thursday.
The country’s total net forex reserves stood at $16.076 billion by the end of the week, marking Read More...
Pakistan’s headline inflation, measured through the Consumer Price Index (CPI), eased significantly to 4.9% year-on-year in November 2024, reflecting improved economic Read More...
The Federal Board of Revenue (FBR) has added approximately 0.3 million taxpayers to its Active Taxpayers List (ATL) for the tax year 2024 during November. The updated list now reflects 5.64 million active taxpayers as of December 1, 2024, based on income tax returns filed up to that Read More...
The Federal Board of Revenue (FBR) has introduced significant amendments to the rules governing the temporary import of vehicles by tourists into Pakistan. These changes, formalized through SRO 1965(I)/2024 on November 27, 2024, modify Rule 77 of the Customs Rules, 2001, with stricter conditions Read More...
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