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. […]
The ministry provided these tax collection figures to the National Assembly, indicating that Rs3.38 trillion was amassed from mobile users during this period. As of the end of August 2024, Pakistan recorded 193.098 million cellular subscribers. In a related development, the Pakistan Bureau of Statistics (PBS) has reported an alarming 800% surge in gas prices […]
Restaurant owners are taking advantage of citizens’ ignorance, but consumers have the right to know where the ‘SRB’ tax collected from them goes. In the name of Sindh Services Tax, the public is being looted in Karachi. Thousands of restaurants and cafes across the city are collecting service charges from citizens without depositing them into […]
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 […]
As per sources, one of the primary concerns of Pakistan is the privatization of DISCOs, which is feared to remain incomplete by January. The target to maintain foreign exchange reserves equivalent to three months of import bills by March is also at risk. The well-placed sources said that revenue targets are unlikely to be met […]
Following the directives of Prime Minister Shehbaz Sharif, FIA has formed special teams to oversee sugar production and stock records in mills. The FIA teams will maintain daily sales records of sugar mills to prevent tax evasion. Director FIA said that the record of cane deliveries and the number of trolleys arriving at mills will […]
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, […]
