In a recent development, the Federal Board of Revenue (FBR) has dismissed a proposal to impose an 18% sales tax on locally manufactured cars. This decision reflects a strategic stance by the tax authority against introducing a higher tax burden on the domestic automotive industry. Key Points: Taxation Policy: The rejection...
In a decisive move, the Federal Board of Revenue (FBR) has established a deadline for the submission of tax proposals for the fiscal year 2025 (FY25) from investors and companies. This step is part of FBR's proactive approach to engaging stakeholders in the budgetary process, seeking input and suggestions...
In a significant announcement, the Chairman of the Federal Board of Revenue (FBR) has stated that the anticipated reforms within the FBR will be implemented under the auspices of the incoming government. This revelation outlines the strategic approach and commitment of the FBR in reshaping tax-related policies and administration...
The Pakistani tax law has come under scrutiny as major tech giants, including Google and Facebook, express reservations over what they deem as a flawed interpretation of the legislation. This development highlights the challenges and concerns raised by prominent digital platforms regarding the clarity and accuracy of the existing...
In a proactive move, the Federal Board of Revenue (FBR) has extended an invitation for proposals of customs-related budget considerations for the fiscal year 2025 (FY25). This initiative underscores FBR's commitment to engaging stakeholders and incorporating diverse perspectives in the formulation of customs policies that align with the economic...
In a significant development, the FBR commits to the International Monetary Fund (IMF) that it will undertake measures to raise taxes on digital markets during the fiscal year 2024. This commitment is part of Pakistan's broader efforts to align its fiscal policies with international standards, address economic challenges, and...
In a significant development, the Pakistan Business Council (PBC) has expressed its support for the caretaker government's decision to bifurcate the Federal Board of Revenue (FBR) and the Customs Department. This move, aimed at enhancing efficiency and streamlining operations, has garnered approval from the business community. The PBC, a prominent...