Hassan Nawaz declared bankrupt in UK tax case
WEB DESK: The president of Pakistan Muslim League (N) Nawaz Sharif’s son Hasan Nawaz has been declared bankrupt by the London High Court. According to media reports, the former Prime Minister Nawaz Sharif’s son Hasan Nawaz was declared bankrupt in a tax case by the British government’s tax, and revenue
Farmers’ union announces protest against agricultural taxes
MULTAN: Pakistan Kisan Ittehad announced on Sunday to take to the streets against the agricultural tax imposed by the government while talking to the media in Multan. The central president of Kisan Ittehad, Khalid Mahmood Khokhar, said that in December, all farmer’s organisations across the country will protest, but our
FBR launches ePayment 2.0 for tax payments
The Federal Board of Revenue (FBR) has introduced ePayment 2.0, a new integrated system to make paying taxes in Pakistan easier.
Tax burden may rise on salaried class, if revenue falls short: Finance Minister
Federal Finance Minister Mohammad Aurangzeb has warned that if tax revenue does not increase in the current fiscal year, the burden on the salaried class and industries may rise. He highlighted signs of economic improvement, such as stable food prices and interest rates, though food items like pulses and chicken
FBR raises sales tax on tea
ISLAMABAD: The Federal Board of Revenue (FBR) has increased the sales tax on both locally supplied and imported tea. As per details, the FBR has established a minimum retail price of Rs. 1,200 per kilogram, raising the current sales tax rate on tea from 17% to 18%. The decision was
FBR increases sales tax on tea
The FBR has fixed a minimum retail price of Rs1,200 per kilogram for imported as well as locally supplied tea. This was done to standardise the prices for sales tax calculation purposes and was formalised through S.R.O. 1735(1)/2024. The minimum retail price so fixed for tea is declared to be
UAE Introduces E-Invoicing System to Streamline Tax Collection
DUBAI: The UAE has introduced an e-invoicing system aimed at transforming tax collection and record-keeping for businesses, marking a significant step toward digital innovation in the financial sector. The Ministry of Finance (MoF) has issued Federal Decree-Law No. 17 of 2024, which amends key provisions of Federal Decree-Law No. 28
Two restaurants sealed over tax fraud in Islamabad
The Federal Board of Revenue (FBR) has sealed two restaurants for issuing fake sales receipts in Islamabad.
FBR gets data of rich Pakistani tax evaders
The Federal Board of Revenue (FBR) has begun receiving data of rich Pakistani tax evaders from the National Database and Registration Authority (Nadra) in compliance with IMF instructions to broaden the tax base. To this effect, FBR has received data pertaining to property ownership, bank accounts, and luxury vehicles, of
Govt rules out tax amnesty for smuggled vehicles
The Pakistani government has reassured the International Monetary Fund (IMF) that no tax amnesty schemes will be introduced concerning smuggled vehicles or asset declarations. There will be no tax exemptions, zero-rating, or tax credits granted, and no preferential tax treatment will be extended to any sector under this declaration. Focus
