The department identified inconsistencies between the taxpayer's bank statements and the final taxation details during the audit for the specified period. As a result, a show-cause notice was issued, requesting clarification on the nature and source of credit entries, which were suspected to Read More...
The federal government has extended its Point-of-Sale (POS) system to businesses in Azad Jammu and Kashmir (AJK), bringing them into Pakistan’s growing digital taxation network. This initiative, spearheaded by Pakistan Revenue Automation (Pvt) Ltd (PRAL) in partnership with the Central Board of Read More...
Senior officials at the National Electric Power Regulatory Authority (Nepra) have dramatically increased their salaries and allowances without obtaining the required approval from the federal cabinet, according to sources cited by BR.
This unauthorized pay hike comes at a time when the Read More...
The Federal Board of Revenue (FBR) has updated the territorial jurisdiction for the collection of advance income tax on property transactions in Karachi, designating the Regional Tax Office-1 (RTO-1) with the responsibility to oversee this process, according to an official notification from Read More...
The government of Pakistan, in collaboration with the International Monetary Fund (IMF), is preparing to finalize a framework for targeted electricity and gas tariff subsidies through the Benazir Income Support Program (BISP). This plan also covers adjustments to gas pricing every quarter and Read More...
President Asif Ali Zardari has confirmed the Sindh Revenue Board’s (SRB) legal right to levy and collect the Workers’ Welfare Fund (WWF) in Karachi, rejecting the Federal Board of Revenue’s (FBR) appeal against a decision by the Federal Tax Ombudsman (FTO).
The ruling upholds the FTO’s Read More...
A high-level delegation of nine Executive Directors (EDs) from the World Bank Group (WBG) has arrived in Pakistan today (Monday), marking the first such visit in almost two decades. This group, representing 88 countries on the World Bank’s Board of Directors, will engage with senior Pakistani Read More...
The Sensitive Price Indicator (SPI) experienced a slight decrease of 0.04% for the week ending February 13, 2025, reflecting a mixed trend in the prices of essential commodities, according to the latest data.
This decline was mainly driven by price reductions in tomatoes (-8.80%), tea Read More...
A notable reduction in electricity tariffs for both industrial and residential consumers is anticipated by June 2025, as shared by Secretary of the Power Division, Dr. Fakhre Alam Irfan. This announcement was made during a meeting of the Senate Standing Committee on Power, where officials Read More...
Petroleum product prices are expected to drop in the latter half of February 2025. According to industry experts, the price of petrol could fall by around Rs. 2.49 per litre, bringing the price to Rs. 254.64 from Rs. 257.13. High-Speed Diesel (HSD) is set for a larger price cut of Rs. 9.11 per Read More...
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