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 […]
As per details, the FBR will ‘impose’ tax on retailers operating in four provincial capitals of Pakistan in the first phase. The move will generate income of around Rs100 bln. Sources knowing the matter told ARY News that the tax will be slapped on retailers according to the size of the shop and yearly income. […]
According to an FBR spokesperson, as many as 38 teams of FBR raided different markets and shops in Saddar, Jamsheed Town, Liaquatabad, Baldia, and SITE during an ongoing action against non-paid cigarettes. Non-duty-paid cigarettes were recovered in huge quantities. On August 23, 2023, Pakistan Customs foiled a bid to smuggle non-duty-paid goods from Quetta to […]
According to reports on Thursday, the Federal Board of Revenue (FBR) has agreed to tax shops in five major cities across the nation: Karachi, Islamabad, Lahore, Peshawar, and Quetta. According to the sources, the board has planned a scheme to raise Rs100 billion in revenue by imposing a tax on 3.5 million shopkeepers in selected […]