The seat of the Constitutional Supreme Court is scheduled to guide the petitions against Section 4b and 4 EGP of the Income Tax Decree (ITO), 2001, in relation to the high tax, on Monday. It will also deal with a seat consisting of five members, led by Judge Amin Al -Din Khan, the breathing request … Read more
The Grand Tax Office (FBR) Federal Council (FBR) revealed a smuggling ring involved in lushing black money and tax evasion through the trading of luxurious watches, according to a report issued by a special TV channel. The Grand Tax Office (LTO) raided three upscale outlets in Karachi, accusing them of massive tax evasion and violations … Read more
Islamabad: The Pakistani Business Council (PBC) suggested that the government has gradually circulated on the super -tax by 2 % annually until it is completely removed for unacceptable profits. Business budget proposals include measures aimed at reducing tax burdens and enhancing economic growth, especially in manufacturing, agriculture and services sectors. PBC recommended that the super-tax … Read more
Islamabad: The Federal Revenue Council (FBR) extended the deadline for sales tax and federal consumption revenues for the tax period in February 2025. The new deadline for its presentation is now March 27, 2025, providing taxpayers for additional time to provide their returns. In an official notice, FBR issued instructions to senior internal revenues, large … Read more
The International Monetary Fund (IMF) in principle has agreed to reduce the deduction tax (WHT) on the purchases of property by 2 %, starting in April 2025, while leaving tax rates on real estate sellers unchanged. The decision follows the request of the Federal Revenue Council (FBR) to alleviate the costs of transactions in the … Read more
IslamabadConsumers in Pakistan carry a large tax burden on petroleum products, with taxes, duties and margins, adding large costs to the final retail prices, according to the official documents obtained by Geo News. Documents show that taxes, duties and margins on high -speed gasoline and diesel (HSD) reaches 107.12 rupees per liter of gasoline and … Read more
Prime Minister Shaybaz Sharif expressed optimism about resolving tax issues worth 400 billion rupees, citing the existence of the last Sanad Sanad Court, which provided the government with 23 billion rupees. Speaking at the Council of Ministers, he identified economic reforms and the main governance that was presented during the past year. He highlighted the … Read more
IslamabadPakistan is losing more than 300 billion rupees every year due to a broken tax system that has strengthened the rise of illegal cigarette trade. This not only exhausts tax revenues, but also defies the effectiveness of state control. The disturbing discovery comes from a new report entitled “Towards an ideal tax system for the … Read more
The FBR (FBR) recorded an increase of 54 % in collecting sales tax from the sugar sector during the past two months, driven by the recovery of arrears, tax reforms and increased sugar exports. However, despite the increase in tax revenues, the price of sugar continues to rise, as consumers pay about 170 rupees per … Read more
On Monday, the Lahc Supreme Court (LHC) was informed that tax cases worth 2 trillion rupee were linked to litigation in the ATIR’s internal appeal court revenues for several years. In response to the contact law that challenges the Law of Tax Laws (amendment), the Ministry of Law attributed the accumulation to the lack of … Read more