Islamabad, Oct 2: Mari Petroleum Secures Court Approval to Retain More Bonus Shares for Tax Recovery. The Islamabad High Court (IHC) has given Mari Petroleum Company Ltd (PSX: MARI) the …
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Islamabad, Oct 1: FBR Tax Collection Shortfall of Rs. 101 Billion in FY25 Q1 The Federal Board of Revenue (FBR) has collected Rs. 2,438 billion against a target of Rs. …
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Islamabad experiences a four-year delay as the Federal Board of Revenue establishes a July 1st deadline for integrating online professional services with the national tax system. On December 22, 2023, …
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Latest Updates
PM Shehbaz Urges Swift Action Against Tax Defaulters and Evaders
by Hamza Irshadby Hamza IrshadPrime Minister Shehbaz Sharif emphasized urgent action against tax defaulters and evaders during a meeting held in Islamabad. Leading the session, he advocated for the formation of a committee tasked …
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Economy
The tax collection deficit in Pakistan amounts to a staggering Rs5.8 trillion
by Hamza Irshadby Hamza IrshadIslamabad: Pakistan encounters a significant tax-evasion issue, amounting to approximately Rs5.8 trillion annually, which represents 6.9% of the nation’s GDP. A substantial portion of this tax evasion, estimated at Rs996 …
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Websites exclusively featuring advertisements from sellers will not be subject to taxation. The International Monetary Fund (IMF) suggests that online platforms participating in transactions within Pakistan should be integrated into …
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Economy
Significant developments anticipated in the real estate industry as Pakistan’s negotiations with the IMF approach their concluding stage
by Hamza Irshadby Hamza IrshadSources reveal that Pakistan guarantees the IMF its commitment to accelerate the privatization initiative. Pakistan has committed to the International Monetary Fund (IMF) that they will integrate the real estate …
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National
Individuals who have not filed their taxes will be subject to extra charges when buying or selling plots of land
by Hamza Irshadby Hamza IrshadIslamabad: In an effort to integrate the real estate sector into the tax framework, the Federal Board of Revenue (FBR) has committed to imposing extra taxes on non-filers involved in …
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Others
The government has currently declined the mini-budget proposal, but this decision may change in the future
by Hamza Irshadby Hamza IrshadThe International Monetary Fund (IMF) urges the government to ensure this year’s anticipated primary surplus. In Washington, the lender requests the Federal Board of Revenue (FBR) to enhance tax collection …
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Latest Updates
After ECP Setback, Caretakers Transfer FBR Authority to Democratically Elected Officials
by Hamza Irshadby Hamza IrshadFBR ISLAMABAD: The Election Commission of Pakistan (ECP) has halted the caretaker government’s ambitious plan to restructure the Federal Board of Revenue (FBR), citing its controversial nature. Finance Minister Shamshad …