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The Federal Board of Revenue (FBR) is ramping up its efforts to ensure business compliance. According to official sources, the FBR will impose stringent measures on companies that fail to register. This move aims to tackle the significant tax gap in the country, which currently stands at a staggering Rs 3,400 billion in terms of …
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The Power Division announced on Wednesday that consumers could benefit from a reduction of up to Rs2.65 per unit (including taxes) due to fuel price adjustments. The statement explained that electricity prices have decreased by Rs2.93 per unit due to fuel price adjustments. However, there has been an increase of Rs1.74 per unit under quarterly …
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September 5, 2024: Heavy taxation and subsequent rise in cement prices have caused a sharp decline in demand, leading to a 25.68% drop in cement dispatches in August 2024. According to data from the All Pakistan Cement Manufacturers Association (APCMA), cement dispatches totalled 3.366 million tons in August 2024, compared to 4.528 million tons during …
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The salaried class in Pakistan paid Rs. 375 billion in taxes last year. This figure is expected to rise to Rs. 450 billion this year, according to recent data. The salaried individuals continue to be the largest contributors to the national tax pool. In stark contrast, the retail sector’s tax contributions are significantly lower. Only …
Pakistan’s Finance Minister, Ishaq Dar, announced that the country’s recent talks with the International Monetary Fund (IMF) have ended “positively” and that the government will need to impose Rs170 billion in taxes through a mini-budget to revive the loan program. Dar stated that the agreement is the same one signed by former Prime Minister Imran …
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