FBR plans to block mobile SIMs of tax evaders | The Express Tribune

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to block 500,000 mobile phone SIMs of tax evaders as the decision has been endorsed by its chairman. In this regard, the FBR has sent relevant rules to the officers concerned. According to sources, the FBR has identified two million tax evaders, but mobile service providing […]

Overhauling Pakistan’s tax system | The Express Tribune

KARACHI: I A Mayburov (2007) defines the Tax System as ‘a system that is a principle-based integral unity of its main interconnected and interrelated elements. These elements are the regulatory legal basis of taxation, the set of taxes and fees, the payers of taxes and fees, and the mechanism of tax administration’. Considering these elements […]

Tax exemptions of Rs50b defy IMF | The Express Tribune

ISLAMABAD: Pakistan has granted a Rs50 billion annual income tax exemption to two government departments, violating the International Monetary Fund (IMF) programme and its own tax law. This decision faced resistance from tax authorities despite being approved through two Acts of Parliament. Official documents show that the Pakistan Civil Aviation Authority (PCCA) and Pakistan Airports […]

Tax policies to support investment sought | The Express Tribune

LAHORE: Lahore Tax Bar Association (LTBA) newly elected President Shahbaz Siddique has pledged to implement a series of initiatives aimed at promoting strong and mutually beneficial cooperation between Pakistan and China in the field of taxation. Recognising the importance of collaboration between the two countries, he aims to leverage this partnership to drive economic growth […]

SPARC suggests more tax on cigarette | The Express Tribune

ISLAMABAD: The Society for the Protection of the Rights of the Child (SPARC) warmly welcomed the appointment of the new finance minister and urged him to consider tobacco taxation as a potential avenue for boosting the economy. Aligning with public health initiatives, the SPARC emphasised the importance of increasing taxes on cigarettes to reduce tobacco […]

PWSMA pushes for digital tax fix | The Express Tribune

ISLAMABAD: Plastic bag manufacturers have blamed the Federal Board of Revenue (FBR) for billions of rupees in annual tax evasion by major commodity producers due to malfunctioning production tracking systems. Industry players have sought the intervention of the new Finance Minister, Muhammad Aurangzeb, who is also advocating end-to-end digitisation of the tax system to eliminate […]

Govt mulls help to expand tax base | The Express Tribune

ISLAMABAD: As the number of active taxpayers further shrinks to 3.4 million, down 41% over the previous year, the government is considering seeking financial assistance from the Bill and Melinda Gates Foundation to improve digital services in the Federal Board of Revenue (FBR). Compared to a week ago, the names of about 500,000 people were […]

Income tax filers drop 35% | The Express Tribune

ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the oath of the new National Assembly, […]

Edible oil industry advocates tax reform | The Express Tribune

The government should contemplate imposing a 20-22% sales tax and a 5% income tax on commercial importers to discourage them, said KK Group of Industries CEO Khalid Islam Sheikh. Photo: file KARACHI: Edible oil manufacturers have called for reducing the duty on Crude Palm Oil (CPO), abolishing section 8B of the Sales Tax Act, and […]

Rs85b tax collected from non-filers | The Express Tribune

ISLAMABAD: Tax authorities have collected Rs85 billion in six months on account of cash withdrawals and electricity consumption by non-filers of income tax returns, indicating that law violators are mostly concentrated in the two biggest urban centres – Karachi and Lahore. Out of the Rs85 billion collected from non-filers under just two heads, nearly 60% […]

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