Following intervention by the Federal Tax Ombudsman (FTO), the Federal Board of Revenue (FBR) has confirmed that chartered accountant (CA) firms have been notified to recover taxes from developers/builders. This […]
Pakistan’s recent tax exemptions for the Civil Aviation Authority (CAA) and Pakistan Airports Authority (PAA) have sparked controversy. Here’s a breakdown of the situation: Tax Breaks Worth Rs. 50 Billion […]
The Khyber-Pakhtunkhwa (KP) government is set to introduce a new sales tax system for the province. Here’s a breakdown of the key changes: Fixed Sales Tax on Restaurants & Wedding […]
Attention Pakistani businesses! The Federal Board of Revenue (FBR) has issued a new regulation (SRO 428(I)/2024) mandating online integration with their tax system. This means your Point-of-Sale (POS) system needs […]
Federal Board of Revenue (FBR), has taken a significant step towards formalizing the retail sector and boosting tax collection. The newly implemented “Special Procedures for Small Traders and Shopkeepers” scheme […]
Part II of S.R.O. 420(I)/2024 outlines the new framework for advance tax payments under the “Tajir Dost Scheme” for small businesses in Pakistan. Here’s a breakdown of the key points: […]
This article clarifies who is exempt from submitting a balance sheet in Pakistan, following a recent SRO 350(2024)(Statutory Regulatory Order). Due date for filing of balance sheet is April 06, […]
The Federal Board of Revenue (FBR) has implemented a new system called SWAPS (System for Web-based Automated Payment System) for processing payments for goods and services. This notification, issued on […]
In a significant decision, the President of Pakistan has ruled to eliminate discrimination against manual tax filers in Pakistan. This move ensures that both electronic and manual filers have equal […]
The Lahore Chamber of Commerce and Industry (LCCI) is contesting a recent amendment to the Sales Tax Rules, arguing it unfairly burdens compliant businesses. SRO 350(I)/2024: This Statutory Regulatory Order […]
