The Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to extend the deadline for filing sales tax returns for June, citing frequent portal downtimes and persistent login failures on the IRIS system. In a letter addressed to the FBR chairman, the KTBA highlighted operational hurdles faced by taxpayers, consultants, and corporate entities under the current authen
The Punjab Assembly’s Standing Committee on Excise has approved a bill amending the Punjab Urban Immovable Property Tax Act, 1958 (V of 1958) for introducing a reward mechanism for individuals, both citizens and excise officials, who report cases of tax evasion. The proposed legislation likely to sail through the House says that any person who provides credible information leading to the detect
The Pakistan Stock Exchange (PSX) came under pressure on Tuesday, with the benchmark KSE-100 index snapping its upward streak as investors opted for profit-taking amid mounting concerns over sweeping taxation measures and a nationwide strike call by trade and industry on July 19. The session opened on a positive note, driven by continued bullish sentiment from the previous day, as heavyweight
In a bid to preempt countrywide unrest, Finance Minister Muhammad Aurangzeb on Tuesday constituted a high-level committee to hold consultations with traders on budgetary measures aimed at documenting the economy. The multi-stakeholder committee will conduct a 30-day consultation process to develop a consensual and actionable proposal, which will be submitted to Prime Minister Shehbaz Sharif and
Finance Minister Muhammad Aurangzeb on Tuesday urged the leading US rating agency — Moody’s — to improve Pakistan’s credit rating and help its return to international capital markets at favourable conditions. Pakistan has been postponing the launch of international bonds since July 2021 due to challenging macroeconomic conditions and resultant poor credit rating and relying mostly on time deposits