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 sources, the FBR’s failure to meet its tax targets has resulted in a major shortfall, that may lead to difficulties in the second installment of the loan. Sources revealed that the IMF has also expressed its concerns over the FBR’s inability to meet its tax targets, whereas the mini-budget is seen as a […]
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, […]
After two extensions, the FBR has denied any further extension in the deadline, which is set to expire today (October 31). According to the FBR officials, so far, over 5.01 million returns have been submitted, with more than Rs125 billion collected from the tax returns process. The tax body has directed the citizens to file […]
Preparations for the bidding process have been finalized at a private hotel in the capital. Of the six potential bidders, only the Blue World City consortium has submitted an advance payment, confirmed by sources from the Privatization Commission. Both the bid submission and opening for Pakistan International Airline’s purchase are set to occur on the […]
According to details, the FBR jacked up the property valuation rates by 75% of the actual market rates starting November 1, 2024. This decision aims to enhance revenue collection and reduce the undervaluation of properties. The updated rates reflect the FBR’s commitment to align the property values with their real market worth, expanding the number […]
According to the notification issued by the FBR, the sales tax on locally manufactured tractors has been raised from 10% to 14%, and the same increase applies to imported tractors. The Federal Board of Revenue (FBR) officials stated that certain sales tax exemptions for tractors have been reduced. While the sales tax has been adjusted […]
In a written answer, the finance ministry said the registration of the traders under the scheme is underway and so far 76,259 traders have been enrolled. 29,735 in Lahore, 11,585 in Rawalpindi, 8,138 in Karachi and 6,563 traders from Islamabad have registered themselves under the Tajir Dost scheme. It should be noted here that the […]
“SBP has cut its benchmark interest rate for three consecutive meetings by 450 basis points to 17.5 percent from a record 22 percent. The next meeting on Nov 4 may see the central bank reduce the policy rate, Muhammad Aurangzeb in an interview with Bloomberg in Washington on the sidelines of the IMF meeting. Pakistan’s […]
