IHC Chief Justice Aamir Farooq issued the order in response to a writ petition filed by the telecom operator. The court also issued notice to the federal government in this regard, with the next hearing on the matter scheduled for May 27, 2024. The petition challenged Clause 114-B of the Income Tax Ordinance and the […]
He was talking to British High Commissioner to Pakistan Jane Marriott, who called on him at the PM House. The meeting was also attended by Deputy Prime Minister Ishaq Dar and Chief Economist and Director of the Economic and Evaluation Directorate, Foreign Commonwealth and Development Office, London, Professor Adnan Khan. The prime minister said: “Pakistan […]
According to FBR, the details of 5,000 non-filers have been shared with telecom operators today. FBR stated that telecom operators will receive additional lists of non-filers daily, and have already started sending messages to non-filers warning them of SIM blocking. The FBR believes that blocking SIMs of non-filers will increase tax revenue. Moreover, the General […]
According to sources, FBR will take legal action against telecom companies if they fail to block SIMs of 500,000 non-filers by May 15. Sources said The FBR has consulted with its legal team to file a petition in the Islamabad High Court against telecom companies, including PTA, for not complying with the orders to block […]
the IMF’s mission has reached Islamabad to assist the finance ministry in finalizing the FY2024-25 budget. The team will stay in Pakistan for more than 10 days, while other members of the IMF mission are likely to reach Pakistan on the night of May 16, the sources said. The mission will hold talks with Islamabad […]
Amid Pakistan’s financial challenges, the government has taken a strong stance against tax evasion by directing the Pakistan Telecommunication Authority (PTA) and telecom companies to block the mobile phone SIM cards of more than 500,000 individuals who have not filed their income tax returns. These individuals, known as non-filers, have taxable incomes but have neglected […]
During the crackdown, the board of revenue team conducted raids on a total of 4,652 retailers and sealed 33 shops found involved in the illegal trade of tobacco. The Chairman of the FBR and Inland Reinforcement (IR) operation members have commended the dedication and efforts of the 204 teams, comprising a total of 1047 individuals, […]
The premier has established a committee to investigate the reasons behind the track and trace system’s failure, despite awarding an estimated Rs25 billion contract to a consortium consisting of M/s AJCL, MITAS, and Authentix, which largely remained non-functional. The decision marks the seriousness of the government in ending tax evasion, which is going on in […]
Sources within the FBR revealed that the scheme, which is currently under discussion, entails a strategic move to levy taxes on traders alongside their electricity bills. As part of this innovative approach, it is proposed to introduce a dedicated column on electricity bills, specifically tailored for traders, facilitating the streamlined collection of taxes. Sources close […]
Overall growth in the domestic taxes has been around 40%, while import duty and related taxes grew by 16% over the July 2023 to January 2024 period. The growth in revenues gained momentum as GDP has revived and FBR collection has come under tighter scrutiny. FBR collections grew by 30% to Rs.5.1 trillion till mid-February […]
