FBR updates, income tax, budgets and markets for Pakistan
State Bank of Pakistan (SBP) releases Annual Payment Systems Review for Financial Year 2020-2021 showing significant growth in the space of digital financial transactions in the country. Mobile banking volume up by…
FBR has completed actions on DNFBPs in the FATF action plan in just one reporting cycle and one year ahead of the deadlines in September 2022. The FATF plenary in its public…
The State Bank of Pakistan (SBP) is all set to introduce full-fledged digital banking in a month to allow people performing financial transactions without physically visiting banks and to accelerate the financial…
In its recently held hybrid Plenary meeting, the Financial Action Task Force (FATF) has decided to keep Pakistan on the grey list. Pakistan will remain on the grey list till it addresses…
The Sindh High Court has abolished the federal excise duty of 75 paisas on every phone call of over five minutes’ duration and declared the levy against the Constitution. The court’s verdict…
The Federal Board of Revenue (FBR) will notify revised valuation of immovable property by November 1. According to report published in Business Recorder, the Board had extended the last date of October…
Inflation is an increase in the general price level of goods and services. When there is inflation in an economy, the value of money decreases because a given amount will buy fewer…
Are you looking to register your mobile device with PTA and pay the due taxes? If yes, then you have come to the right place. In this article, you’ll learn how to…
Apple IPhone 12 Pro Max is a device launched in Pakistan. The official price of this phone is 235599 Rupees. The Apple IPhone 12 Pro Max price in the country is more…
The Federal Board of Revenue (FBR) Intelligence and Investigation (I&I) Inland Revenue (IR) has revealed that 13,401 taxpayers filed 37,469 Voluntary Tax Compliance Scheme (VTCS) returns whereas most of them were ineligible…
Federal Board of Revenue (FBR) has launched the Maloomat TaxRayApp to facilitate the taxpayers’ and general public. This Application has been uploaded on the website of FBR. Taxpayers’ and general public can…
A penalty of Rs1,000 each day of default has been implemented from Saturday after the expiry of return filing date on October 15, 2021. A new amendment has been made part to…
Jazz Telecommunication Company has been awarded the ‘Best Taxpaying Company’ award under the large taxpayers’ category (largest withholding agent nationwide) at the inaugural Taxpayer Recognition Awards organized by the Rawalpindi Chambers of…
Against 7.2 million taxpayers registered with the Federal Board of Revenue (FBR), just 2.5 million, or 35%, filed annual income tax returns till the extended deadline that expired on Friday. The FBR…
The government on Saturday increased the price of petrol by Rs10.49 per litre taking it to a record level of Rs137.79 per litre. Prices of high-speed diesel (HSD), was increased by Rs12.44…
The average price of petrol worldwide is 206.27 Pakistan Rupee per liter. However, there is substantial difference in these prices among countries. As a general rule, richer countries have higher prices while…
"I am directed to refer to the subject and to state that all LT0s/MT0/CTOs/RTOs shall remain open and observe extended working hours till 12:00midnight on Friday, 15thOctober, 2021, to facilitate the taxpayers…
The government is considering over a presidential ordinance to withdraw sales tax exemptions, zero-rating, and reduced sales tax rates to the tune of Rs330 billion within the next 10 to 15 days,…
The Federal Board of Revenue (FBR) has withdrawn its clause that directed the Board to warn taxpayers 24 hours prior to freezing their bank accounts. The business community is not happy over…
The Federal Board of Revenue (FBR) on Wednesday cleared that it is not considering an extension in the date for filing annual income tax returns after deadline of October 15 2021. According…