PRA Identifies 1,200 Firms in Tax Fraud Scheme
The Punjab Revenue Authority uncovers a massive tax fraud involving 1,200 businesses using fake invoices. Authorities are taking strict legal action to recover billions.
Category : Search result: sales tax
NA Panel Defers Mobile Phone Tax Debate
A National Assembly panel has deferred the debate on imposing a 25% tax on mobile phones. The committee seeks more data from FBR and PTA before making a decision, impacting millions of users.
IMF Warns on Rs428bn Tax Shortfall, PRAL Risks
IMF raises alarm over Pakistan's Rs428bn tax shortfall and PRAL's new hiring & outsourcing without a conflict of interest policy. Discover the risks to data security and FBR's governance.
Black Friday Crowds Grow Amid Economic Squeeze
Pakistani shoppers flocked to Black Friday sales but spent cautiously due to inflation. Retailers report higher footfall but smaller transaction sizes amid economic pressures.
Pakistan's Elite Drain Economy by 5-6.5% Annually
IMF reveals elite capture costs Pakistan 5-6.5% of GDP yearly. With growth at 2.7%, urgent reforms in SOEs, taxation, and transparency are the only path to recovery.
Punjab Announces 10 New Government Farmers Markets
Punjab government plans to establish 10 new farmers markets under state control to provide direct market access to growers and ensure fair prices for consumers.
Motorbike Sales Surge 30% in Pakistan
Pakistan's motorbike and three-wheeler sales surged 30.38% in July-October FY25, with Honda leading growth. PAMA data reveals shifting consumer preferences in transportation.
Big Industries Face 4x Higher Tax Burden in Pakistan
Pakistan's large-scale manufacturing sector faces tax burden four times higher than smaller businesses, reveals FBR analysis. Discover how this impacts economic growth and government revenue.
US Ends Arms Cost Waiver for South Korea
Washington terminates waiver on US arms development costs for Seoul, increasing South Korea's military spending burden. Learn how this affects regional allies.
China Economic Growth Slows in October Data
China's retail sales and industrial production growth slowed in October 2024, signaling economic challenges ahead. Learn how this impacts global markets.
FBR Holds Tax Awareness Session at Riphah University
FBR's Taxpayers' Services Wing organized a comprehensive tax awareness session at Riphah International University, Islamabad. Students learned about tax compliance, digital tools, and civic responsibility. Read more about this educational initiative!
Pakistan Announces Major Economic Reforms for 2025
Government commits to sweeping economic reforms including tariff rationalization, regulatory modernization and industrial revival at Pakistan Prosperity Forum 2025.
Car Sales Surge 32% Amid Economic Stability
Pakistan's auto industry records 32% year-on-year growth in car sales as economic stability returns. Discover which brands led this remarkable recovery.
Red Dead Redemption 2 Sells 79M, Stock Gains
Rockstar's Red Dead Redemption 2 reaches 79 million sales, becoming 4th best-selling game ever. Take-Two stock rises as investors eye GTA VI delay to 2026. Read analysis.
SC Upholds Customs Stance in Steel Rollers Case
In a decisive verdict, Pakistan's Supreme Court overturns Sindh High Court decision, upholding Customs' position in major steel industry tax dispute with significant revenue implications.
FBR Extends Manual Tax Return Deadline to October 27
Pakistan's Federal Board of Revenue extends manual income tax return deadline, providing relief to taxpayers facing technical challenges with IRIS portal.
Punjab Govt Exempts Property from Sales Tax - Industry Cheers
The Punjab government's landmark decision to exempt immovable property from sales tax and services receives overwhelming approval from stakeholders across the province.
Offset's $23M Tax Debt Amid Cardi B Divorce Crisis
Rapper Offset faces massive IRS debt while navigating divorce proceedings with Cardi B. Get the inside scoop on his financial troubles and spousal support dispute.
SC: Cantt Boards Can't Tax Federal Properties
Pakistan's Supreme Court delivers crucial verdict prohibiting cantonment boards from imposing taxes on federal government properties, settling long-standing legal dispute.
PM Orders Review of High Tax Rates for Economic Relief
Prime Minister Shehbaz Sharif directs immediate review of high tax rates to provide relief to salaried class and businesses, signaling significant economic policy shift in Pakistan.
Ex-FBR Chief Shabbar Zaidi in Tax Fraud Case
Former FBR chairman Shabbar Zaidi embroiled in serious tax fraud allegations as FIA registers case involving millions in undeclared income and property transactions.
Pakistan's Untaxed Informal Economy Exposed in EPBD Report
Exclusive report reveals how large segments of Pakistan's informal economy continue to evade taxation, creating massive revenue shortfalls and unfair competition for registered businesses.
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