Retailers seek tax relief amidst recent policy changes
Lahore Chamber of Commerce and Industry (LCCI) President Kashif Anwar has urged the Federal Board of Revenue for S.R.O 1842(1) 2023 Amendment, saying that retailers seek tax relief amidst recent policy changes.
Mehfooz
LTO Karachi surpasses target of Rs.1221 Billion tax in collection
Federal Board of Revenue Large Taxpayer Office Karachi for the first time crossed one trillion benchmark of half-yearly collection by incurring taxes amounting to Rs.1221 billion during July to December 2023.
Editor
Fiscal deficit’s curtails to 0.8 percent of GDP: Report
Owing to consolidated measures implemented by the government, the fiscal deficit has been curtailed to 0.8 percent of GDP during the first four months of the current fiscal year.
Adil Aziz
FBR collection over Rs.1 trillion gross revenue in a month
Federal Board of Revenue has created history by collecting Rs.1021 Billion in December 2023 and after adjusting refunds of Rs.38 billion issued during the month, reached net collection of Rs.984 billion.
FBR Committed To Eliminate Tax Evasion In Sugar Industry
Monitoring teams from Field formations of FBR have been deputed on sugar mills across the country. Sugar is one of the notified products on which monitoring or tracking of production, sales, clearances, stocks or any other related activity is implemented.
Banks Pay 40% additional tax on windfall income, profits, and gains during 2021-22 of by Nov 30: FBR
The Federal Board of Revenue has issued a notification for financial institutions to settle the payment of a 40% additional tax on windfall income, profits, and gains for transactions that occurred in 2021 and 2022, as stated by a source on November 22.
FBR asked to get rectify errors in filing ST returns
President Karachi Chamber of Commerce & Industry Iftikhar Ahmed Sheikh has asked the FBR to issue directives for rectifying the technical errors being suffered by the filers of Sales Tax Return who have been facing a lot of problems in filing their Sales Tax Returns since last three months.
FBR implemented new rules for Non-Filers to blocking of Sims, Electricity and gas connections
Federal Board of Revenue has established 145 District Tax Offices which will focus on bringing 1.5 to 2 million new taxpayers into the tax net till June, 2024.
IMF appreciates Pakistan’s efforts to normalize situation: SBA Meeting
The International Monetary Fund Mission Chief, Nathan Porter appreciated the government’s commitment to meeting the first Quarter targets and commended its efforts and measures taken in some critical areas.
FBR record revenue collection of Rs.2,748 Billion in July-October 2023
FBR has collected Rs.2,748 Billion (2022: 2,159 Billion) against assigned target of Rs.2,682 Billion, thereby exceeding it by Rs.66 Billion. FBR has put in tremendous efforts to achieve revenue target for the month of October, 2023.