Exclusively talking to FBR spokesperson, Bakhtiar Muhammad said the last date for filing income tax returns is October 14. The FBR spokesperson further said after the deadline, the SIMs of the non-filers will be blocked and they will not be able to buy vehicles or plots. He urged the masses not to wait for the […]
SHC heard the plea against collection of tax collection in the electricity bills. The Sindh High Court in its verdict said the tax collection is imposed under the Finance Act and questioned whether the petitioners had challenged the act itself. At this juncture, K-Electric’s lawyer argued that the advance income tax does not apply to […]
“There are around 3.5 million top households liable to pay taxes to the government, however out of which 2.8 million are not paying taxes,” Spokesperson FBR, Bakhtiar Muhammad told APP. The incumbent government had embarked upon a comprehensive plan to enhance the tax-to-GDP ratio and resultantly the number of tax filers as well as tax […]
KCCI President Iftikhar Ahmed Shaikh in his statement said the FBR’s portal for submitting online tax returns is not ‘working’ and the traders are finding it difficult to submit their returns as the deadline is also nearing. Shaikh urged the (FBR) to extend the deadline for filing income tax returns for a month as the […]
Chairman of All Pakistan Textile Mills Association (APTMA), Asif Inam, has said that the most expensive electricity is being provided to mills in the country. Chairman APTMA has said that the corporate tax in Pakistan has risen to double in comparison to neighboring India. He said the cement factories are being run at 10 to […]
As per details, the FBR headquarters has issued a letter to the Chief Commissioner of the Corporate Regional Tax Office, mentioning concerns over the slow pace of revenue collection. The letter mentioned the need to enhance efforts to achieve targets, particularly in the first quarter of the financial year. The FBR has also directed the […]
According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone. If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini-budget […]
According to the PTA statement, in the first phase, fake and canceled CNICs were blocked, and now, SIMs registered on CNICs that expired before 2017 are being blocked. The PTA officials stated that over 69,000 illegal SIMs have been blocked since August 16 as the authority is using data obtained from NADRA to identify and […]
According to sources, the IMF has insisted on maintaining the 10% sales tax on stationery items, leading to a significant increase in prices, despite efforts by the government. Sources said that the tax increase has resulted in a 15% rise in the prices of stationery items, affecting students, businesses, and the general public. The tax […]
Sources close to the development revealed that Prime Minister Shehbaz Sharif has tasked the economic team to revise the current income tax rate on salaried classes earning up to Rs 100,000 per month. In the recent budget, the government had increased the income tax rate to 2.5 percent on monthly salaries up to Rs 100,000. […]
