FBR updates, income tax, budgets and markets for Pakistan
26 articles
Mini Budget to Present before Parliament Today. In compliance with IMF conditions, the government of Pakistan decided to present a supplementary finance bill as a mini-budget before the parliament (today) on February…
The Petrol Prices in Pakistan are likely to increase from start of July. Government plans to charge petroleum levy on POL products with effect from 1st July 2022 in order to reinstate…
Finance Minister of Pakistan Mr Miftah Ismail announces here on Thursday an increase in the price of petroleum products. Government decided this after the IMF stressed the end of subsidies on petroleum…
The Senate has officially passed the State Bank of Pakistan Amendment Bill in a session in Islamabad today. The session was presided over by Senate Chairman Sadiq Sanjrani and the bill was…
Building further on its ongoing drive for digitization to facilitate the taxpayers, promote ease of doing business and reduce compliance costs, FBR achieved one more milestone by developing National Sales Tax Return.…
Federal Minister for Finance and Revenue, Shaukat Tarin, has ruled out the speculations, being expressed by many, that the supplementary finance bill will cause an increase in inflation. Addressing a press conference,…
Federal Minister for Finance Shaukat Tarin on Thursday presented the much-awaited supplementary finance bill 2021 — termed by the Opposition as a "mini-budget" — in the National Assembly, as a pre-requisite to…
The government is all set to introduce the amended Finance bill, and State Bank of Pakistan (SBP) autonomy bills in Parliament for approval tomorrow (Tuesday) despite resistance by opposition. Both the bills…
The government of Pakistan completed the mini-budget to the tune of Rs 360 billion that would smack 17% General Sales Tax (GST) on around 140 vital expendable and manufacturing goods, as well…
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said that the government is bringing a ‘mini budget’ next week under an agreement with the International Monetary Fund…
ISLAMABAD: The federal cabinet will approve the Tax Laws (Fourth Amendment) Bill to abolish Rs350 billion tax exemptions and restore the standard 17 per cent rate of general sales tax (GST) under…
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said the government will not impose any new taxes in the upcoming 'mini budget', but it will withdraw some…
The State Bank of Pakistan expressed serious concerns on Thursday over speculation by banks in the currency business, saying they were involved in the multibillion-rupee game. Banking sources said a high-level meeting,…
The State Bank of Pakistan (SBP) is soon be granted autonomy as an amendment bill was approved in the parliament on Wednesday, bringing Pakistan a step closer to reviving the $6 billion…
About 500,000 countrywide retailers with a tax potential of about Rs 1,500 billion are the new target of Federal Board of Revenue (FBR) to ensure growth in revenue collections. According to Business…
The Federal Board of Revenue (FBR) collected Rs1.84 trillion in just four months, an increase of 37% or close to Rs500 billion over last year. It exceeded the July-October target by Rs228…
The International Monetary Fund (IMF) has placed a condition on Pakistan to close all the bank accounts maintained by public sector entities and the defence ministry in commercial banks. The money should…
According to media, the IMF proposed to charge a tax of 7.5% on all pension holders because the government’s discussion with the IMF and the World Bank on the federal budget for…
Earlier, the SBP allowed the rupee to fall sharply in the interbank market. After finalizing an agreement with the International Monetary Fund (IMF) for a loan program on May 12, 2019. The…
There is also a proposal to tax interest income under normal tax regime, instead of charging a maximum rate of 15% that is at the lower end. The talks between the both…