The Punjab Revenue Authority (PRA) achieved remarkable growth in December 2024, reporting a 16.16% increase compared to the same month last year and a 19% rise from November 2024.

The Federal Tax Ombudsman (FTO) efficiently addressed 12,941 taxpayer complaints against the Federal Board of Revenue (FBR) during 2024, out of a record-high 13,506 complaints received in this period.

During a cabinet meeting on Wednesday, the Prime Minister praised the performance of government officials but pointed out a significant “gap” between actual revenue collection and the targets set.

Importers of cocoa powder have been denied the ability to claim exemptions under two separate notifications simultaneously. The issue arose when importers claimed customs duty exemption under SRO 1261, a claim that was neither disputed nor denied by the department.

The Islamabad High Court (IHC) on Monday issued a detailed verdict regarding the deduction of Rs1.37 billion from the Pakistan Telecommunication Authority (PTA) bank account by the tax department.

The Punjab government has expanded the sales tax on services to include district Murree. A notification has been issued to activate the Murree office, following the previous establishment of offices in Bahawalpur, Sheikhupura, and Kasur.

Pakistan has reversed its decision to impose a new tax on banks’ income from government debt just days before a crucial deadline, following strong opposition from lenders.

President Asif Ali Zardari on Monday night issued the Income Tax (Amendment) Ordinance, 2024, introducing major changes to bank taxation by amending the First and Seventh Schedules of the Income Tax Ordinance, 2001.