Negotiations between Pakistan and the IMF on a $3 billion standby agreement by March 18, 2024, are expected to be signed. However, the IMF has requested that Pakistan introduce a capital gains tax (CGT) on investments in cryptocurrency and real estate as a condition of the agreement. As per the local media reports, the IMF recommended imposing taxes on new financial...
The FBR (Federal Board of Revenue) has informed the IMF (International Monetary Fund) about the new tax policy. This includes a comprehensive strategy to register one million non-filers income tax returns using the Board’s central database and third-party data. The first meeting, which took place at the Ministry of Finance, was attended by the IMF technical team, FBR Chairman,...
According to the latest update, the Federal Board of Revenue (FBR) is planning to establish 145 district tax offices in Pakistan to expand the country's tax base. Finance Minister (FM) Shamshad Akhtar gave his approval to the action, which was labeled a restructuring measure. The FBR announced that district officers from across the country will be in charge of these offices....
The Federal Board of Revenue (FBR) has announced that non-filers will face disconnection of mobile SIM, electricity, and gas connections to hold them accountable. More than 250 FBR district revenue officers will handle this; they are in touch with gas, electricity, and phone companies directly to cut off the connection for those who do not pay taxes. The primary goal of the...
In addition to the new administrative measures, the Federal Board of Revenue (FBR) plans to implement a versatile strategy, including notification to non-filers. As per news reports, FBR insiders have unveiled a bold plan to include one million people for tax relief at the start. Read More: Pakistan Plans To Launch Digital Currency To Stabilize Rupee After that, to expand this...
