Tax
ISLAMABAD, Sep 03: Negotiations between the Federal Board of Revenue (FBR) and retailers have reached a deadlock over a proposed tax-friendly scheme, with both sides failing to reach a breakthrough during recent discussions. The FBR has proposed forming a committee comprising representatives from the business community to reassess the fair
FBR
ISLAMABAD, Aug 28: The Federal Board of Revenue (FBR) is poised to introduce significant changes to its tax scheme in response to demands from the trading community. The proposed reforms include simplifying the income tax return form into Urdu and exempting small traders from sales tax on annual turnovers up
FBR
ISLAMABAD, Aug 13:The Federal Board of Revenue (FBR) has been unable to recover trillions of rupees in income tax, according to sources, exposing significant gaps in the tax collection system. Despite issuing over 3,000 notices, the FBR has failed to recover Rs. 80 billion. A further Rs. 104
garbage tax
LAHORE: A new garbage tax has been introduced across all cities in Punjab, following approval from the provincial cabinet's standing committee on finance and development. The Punjab government has issued a notification detailing the new tax rates, which apply to both small and large businesses, as well as
sales tax
In anticipation of an increase in the sales tax rate in the upcoming fiscal year's budget, consumers brace for potential price hikes in essential items such as sugar, ghee, tea leaves, and makeup products. Sources reveal that an increase in the sales tax rate from 18% to 19%
FBR
ISLAMABAD, May 30: The Federal Board of Revenue (FBR) has formed four specialized technical committees dedicated to implementing a comprehensive tax system digitization project and to enhance tax collection and curb evasion. This initiative, approved by FBR Chairman Amjad Towana, aims to modernize the tax infrastructure, expand the tax net,
FBR
ISLAMABAD: The Federal Board of Revenue (FBR) has decided to devise comprehensive operational strategies to expedite the collection of billions of rupees stuck in various tax cases pending in different courts. Federal Minister for Finance, Muhammad Orangzeb, visited the headquarters of the Federal Board of Revenue to chair a meeting
pay tax
ISLAMABAD, April 24: Finance Minister Mohammad Aurngzeb has said that the country's economy is on the right track, but people will have to pay taxes. He said that "there is no living without paying taxes now." Finance Minister was responding to speeches on interest-based banking during
FBR
ISLAMABAD, April 13: The Federal Board of Revenue (FBR) has decided to block the mobile phone SIM cards of approximately 1.8 million non-filers across the country n a move to comply with the International Monetary Fund's (IMF) conditions,. According to media reports, the decision was approved by
FBR
KARACHI, The Federal Government of Pakistan is considering an ordinance to expedite the resolution of a backlog of 27,000 tax cases pending in various appellate courts. According to media reports that the Federal Board of Revenue (FBR) has communicated to the Law Ministry regarding the initiation of an ordinance
Muhammad Aurangzeb
ISLAMABAD, Mar 13: Federal Finance Minister, Muhammad Aurangzeb, reiterated the government's commitment to enhancing transparency within the tax system, aiming to increase the tax revenue's share in the national income to 10%. Addressing the media in Islamabad on Wednesday, Minister Aurangzeb emphasized the priority placed on
Caretaker Finance Minister
KARACHI, Jan 27: Caretaker Finance Minister Dr. Shamshad Akhtar underscored the imperative of doubling the tax-to-GDP ratio to achieve development goals during a ceremony marking World Customs Day at Customs House Karachi. Addressing the gathering, the Finance Minister outlined the challenges in customs reforms, emphasizing the need for a simplified
Tax
ISLAMABAD. Jan 07 : The salaried class has outpaced wealthy exporters in tax payments during the first half of the current fiscal year. Reports indicate that the salaried class has contributed a staggering 158 billion rupees in taxes, marking a substantial 38 percent increase compared to the same period in the