According to the proposed amendment, non-taxpayers will be barred from opening bank accounts, purchasing vehicles above 800cc, and buying property above a certain limit. Additionally, non-taxpayers will not be allowed to make transactions above a certain threshold, and their bank accounts will be frozen if they fail to register for sales tax within two days. […]
As per details, this development came after a meeting between the FBR and the marriage hall association, where both sides agreed on the new tax. The 10% withholding tax will be collected in addition to the rental charges, and the tax amount will not be borne by the marriage hall owners. According to the president […]
SC constitutional bench headed by Justice Amin-ud-Din heard the plea. In his arguments before the SC constitutional bench, the additional attorney general of Pakistan said the appointment of new professionals in PIA was halted due to the privatization process. After a lower bid, the government is planning a second attempt for the privatization of PIA […]
In a statement, the Inland Revenue Service Officers Association (IRSOA) rejected the impression of officers lacking in collecting tax. The failure to meet tax targets is attributed to flaws in tax administration and policies, the IRSOA said in its statement released on Monday. The Inland Revenue Service Officers Association also criticized the FBR’s transformation plan […]
The action was taken after citizens/consumers reported that the restaurants were issuing counterfeit receipts/invoices, according to an FBR news release. This is in line with FBR’s drive to bring Tier-1 retailers/restaurants under the tax net through the POS Invoice system. After determining the inauthenticity of the reported receipts through POS tracking software under an already […]
As per details, the FIR Corporate Crime Circle raided an office at I.I. Chundrigar Road and arrested Zeeshan Afzal Bilgrami, the owner of Denzo Trader, for defrauding a Chinese company of Rs113.9 million. According to the FIA, the accused committed bank fraud and tarnished Pakistan’s reputation internationally. The case was registered following approval from the […]
This he stated while expressing his views in the Senate Standing Committee on Privatization, which met under the chair of Senator Talal Chaudhry here in Islamabad. The meeting discussed the reasons behind the lower bid for the PIA sale. Aleem Khan said the process of PIA privatization started on November 28, 2023, before he assumed […]
As per details, Federal Board of Revenue (FBR) Chairman Rashid Langrial has developed an alternative strategy to address the tax shortfall, as Prime Minister Shehbaz Sharif has rejected a proposal to further increase taxes on the salaried class. FBR chief is likely to hold key negotiations scheduled today to discuss measures to boost tax revenues. […]
As of November 6, a total of 5.215 million tax returns have been submitted. In the same timeframe last year, the FBR received 2.959 million tax returns. This indicates a 76 percent increase in tax return submissions compared to the previous year. For the fiscal year 2024, 2.051 million returns have been filed. During the […]
According to an FBR statement, this move comes after the Chairman FBR directed the speedy processing of refund payment orders up to September 30, 2024. Separately, the Federal Board of Revenue (FBR) launched an advanced Stock Register system via the Information Center 2.0 platform to provide officers with real-time, in-depth access to registered persons’ data, […]
