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 […]
He was addressing a news conference alongside Minister for Information and Broadcasting Attaullah Tarar and Minister of State for Finance Ali Pervez Malik in Islamabad today. Muhammad Aurangzeb said taxation reforms have a key role in fiscal stability. He said the country has been languishing between 9-10 percent in terms of tax to GDP ratio […]
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 […]
