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GPP for KP project: Implementation progress rated as satisfactory by World Bank

ISLAMABAD: The World Bank has rated the overall implementation progress of the Governance and Policy Programme (GPP)...

Updated 11 Aug, 2023 09:27am

Business & Finance

Pakistan, Iraq begin talks on ‘Convention for Elimination of Double Taxation’

ISLAMABAD: Federal Board of Revenue (FBR) initiated negotiations on the Convention for the Elimination of Double...

Published 11 Aug, 2023 05:17am

Opinion

Partly Facetious: If push comes to shove

“There is an urgent need for those who receive a salary at the taxpayers’ expense to be trained on how to ...

Published 10 Aug, 2023 06:35am

Business & Finance

Section 7E of Income Tax Ord: IR Commissioners told to issue exemptions in 1-2 days: FBR chief

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Amjad Zubair Tiwana Wednesday said the FBR has directed...

Updated 10 Aug, 2023 06:56am

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FBR refuses to share Politically-Exposed Persons’ data

Refusal letter says section 216 prohibits disclosure of taxpayer’s information to any individual or authority except those mentioned explicitly in sub section 3 of section 21 of the Ordinance

Updated 07 Aug, 2023 11:44am

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Valuation of immovable properties: FBR suspends proposed increase till next month

ISLAMABAD: In a major development, the Federal Board of Revenue (FBR) has temporarily suspended a major increase...

Updated 06 Aug, 2023 11:13am

Business & Finance

Defiance regarding recommendations: FTO urged to exert his authority

ISLAMABAD: The Federal Tax Ombudsman (FTO) has been urged to be strict with the department when there is deliberate...

Published 04 Aug, 2023 06:20am

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Income tax return form for TY23: KTBA urges FBR to remove technical glitches, irregularities

KARACHI: Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to remove technical...

Updated 02 Aug, 2023 07:57am

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FBR surpasses July revenue collection target

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs538 billion during July 2023 against the...

Updated 02 Aug, 2023 09:09am

Pakistan

Real estate, construction: Demand to appoint advisor to PM in caretaker setup

ISLAMABAD: The government needs to create a special position of ‘Advisor to the Prime Minister on Real Estate and...

Published 01 Aug, 2023 06:19am

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Number of income tax filers stands at 4.2m

ISLAMABAD: The latest number of income tax return filers as per the Active Taxpayers List (ATL) now stood at 4.2...

Updated 31 Jul, 2023 09:48am

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Over Rs50,000 cash withdrawals thru credit cards/ATMs: Non-filers to pay 0.6pc WHT: FBR

Through Income Tax Circular 2 of 2023, FBR has explained important amendments made in the Income Tax Ordinance, 2001 (the Ordinance) through Finance Act 2023

Updated 30 Jul, 2023 09:49am

Business & Finance

EU stress test shows three banks falling short

LONDON/FRANKFURT: Three banks from the European Union failed to meet binding capital requirements in a stress test...

Published 29 Jul, 2023 05:28am

Business & Finance

Audit officials of ST dept accused of misusing concept of ‘sister companies’

LAHORE: Audit wing officials of the sales tax department are allegedly misusing the concept of sister companies ...

Published 28 Jul, 2023 03:02am

Opinion

Taxing work and subsidising non-work

Turns out that there’s a Salaried Class Alliance (SCA), based in Karachi, which describes itself as a...

Updated 27 Jul, 2023 07:00am

Business & Finance

Non-reporting, under-reporting by taxpayers: Punjab govt devising strategy

LAHORE: To improve revenue collection from excise duty, the Punjab government was devising a strategy to minimise...

Published 27 Jul, 2023 06:26am

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Supplies to unregistered persons: ‘Further Tax’ rate raised to 4pc

ISLAMABAD: The Federal Board of Revenue (FBR) has increased the rate of ‘Further Tax’ from three to four percent on...

Updated 26 Jul, 2023 09:08am

Business & Finance

Punjab govt decides to revamp sales tax on services strategy

LAHORE: The Punjab government has decided to revamp its strategy on the sales tax on services (STS) to make its...

Published 25 Jul, 2023 06:20am

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Tax on immovable properties: FBR urged to give taxpayers online declaration option

ISLAMABAD: The Federal Board of Revenue (FBR) should introduce an option for the taxpayers in the online declaration...

Updated 24 Jul, 2023 09:29am

Business & Finance

FTO exposes ‘illegal’ tax recovery by FBR

ISLAMABAD: Federal Tax Ombudsman (FTO) has exposed an illegal tax recovery by the Federal Board of Revenue (FBR)...

Published 22 Jul, 2023 06:06am

Opinion

Another hybrid body needed to widen the tax net

The addition of Special Facilitation Investment Council (SFIC) to the already existing hybrid organization and...

Updated 21 Jul, 2023 07:12am

Business & Finance

FBR chairman holds E-Khuli Kachehri

ISLAMABAD: In line with the government’s vision and as part of FBR’s drive to facilitate taxpayers, Chairman...

Published 15 Jul, 2023 06:08am

Opinion

Tax targets versus tax gap—I

“…the FBR’s revenue target has been increased to Rs 9,415 billion, requiring a 31% increase over collection of...

Updated 14 Jul, 2023 06:47am

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Cases of overseas Pakistanis: FTO issues guiding policy to FBR

ISLAMABAD: The Federal Tax Ombudsman (FTO) has warned the Federal Board of Revenue (FBR) that the harsh treatment of...

Updated 13 Jul, 2023 09:06am

Business & Finance

Issuance of notice: IRO penalized for failing to observe due diligence

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed a penalty to stop six months “performance pay...

Published 10 Jul, 2023 06:52am

Business & Finance

Pakistani consumers pay highest energy tax: expert

KARACHI: The hike in energy rates is the biggest issue of our economy, as we are the highest tax paying energy...

Published 10 Jul, 2023 06:52am

Opinion

Super tax and tax on bonus: misinterpretation of basic accounting–II

Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super...

Updated 06 Jul, 2023 06:24am

Business & Finance

Year-on-year: Number of complaints against FBR has doubled: FTO

ISLAMABAD: The total number of complaints filed by taxpayers with the Federal Tax Ombudsman (FTO) against the ...

Published 06 Jul, 2023 05:42am

Business & Finance

LTO Karachi collects Rs2,076bn in FY2022-23

KARACHI: The Large Taxpayers Office (LTO), Karachi announced a remarkable achievement as it had collected Rs 2,076...

Published 06 Jul, 2023 05:42am

Business & Finance

PALSP criticises ‘dual tax system’

ISLAMABAD: The Pakistan Association of Large Steel Producers (PALSP) has raised strong concerns over ‘unfair and...

Published 06 Jul, 2023 05:42am