As per details, Sardar Enterprises was found guilty of tax evasion and smuggling at the Karachi Export Processing Zone. According to the Port Qasim Export Collectorate, the company was found guilty of evading taxes worth Rs 825 million. The company reportedly misused tax-exempted goods and illegally cleared used materials at local market rates. Investigations revealed […]
The ‘Rahguzar’ mobile app will enable consumers to identify legal fuel stations and outlets across Pakistan using Geographic Information System technology. Read more: OGRA refutes reports of deregulation of fuel prices The launch of the latest mobile application is a major step in the digitalization of Pakistan’s oil supply chain. The launch ceremony of the […]
As per details, the IMF has recommended introducing a mini-budget to bridge the gap. However, sources report that the Prime Minister has rejected this proposal, instructing the Federal Board of Revenue (FBR) to address the shortfall through alternative measures. The FBR has already shared a comprehensive alternative plan with the IMF, aiming to enhance revenue […]
The National Assembly’s Standing Committee will now review the bill clause by clause and make decisions accordingly. The committee has already approved the strictest amendments related to Sales Tax in the draft law. The main objective of the Tax Laws Amendments bill is to ensure income-based tax payments, according to the draft. The bill proposes […]
“Corrupt practices are still going in FBR,” Rashid Langiral said while briefing the National Assembly’s Standing Committee on Finance. Langrial told the NA body that the changes in tax laws are intended to increase the tax base, targeting higher-income individuals and those engaged in significant business transactions. Under the new laws, FBR officers are being […]
According to official documents of the Federal Board of Revenue (FBR), several industries, including tobacco, cement, aerated beverages, airline tickets, fertilizers, and dairy goods contributed to the significant surge in revenue. Cigarette excise taxes increased significantly by Rs 95 billion, to a total of almost Rs 237 billion. In the meantime, cement duty revenue rose […]
“The old tracking, tracing, and scanning systems in the trading hubs must be replaced with the new systems equipped with modern technology,” the prime minister said while chairing a review meeting regarding transit cargo and tracking system. He also issued directives to ensure the third-party validation of the quality of the cargo tracking services providing […]
As per details, the ministry has proposed that the federal budget for the upcoming fiscal year be presented in the first week of June. All budget documents are proposed to be finalized by the end of May 2025. A meeting of the National Economic Council is scheduled for the second week of May, while the […]
The operations, conducted between January 1 and January 3, included action on M.A. Jinnah Road where two medical and surgical stores were sealed. A paint shop was also sealed for not integrating with the POS system. In another operation, a showroom on Khalid Bin Waleed Road was sealed for failing to issue POS receipts, while […]
The Rs 1328 billion collection in December represents a significant increase of 35 percent as compared to November’s tax collection. Furthermore, there was a notable 56 percent increase in tax collection in comparison with December of the previous financial year. In the first six months of the current financial year, the FBR collected Rs. 5624 […]
