Tag: tax evasion
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Tax evaders beware: Finance minister cracks down to boost tax revenues by $21 billion
Pakistan is losing out on approximately $21 billion annually to tax evasion. As Finance Minister Muhammad Aurangzeb tightens the metaphorical noose around tax evaders with his crusade, law-abiding citizens could expect better times. This is because, as per the latest federal budget, the interest payments of the debt incurred to finance the fiscal deficit of…
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Reducing financial burden on low-income groups remains top priority for govt: Aurangzeb
Finance Minister Muhammad Aurangzeb said Sunday that the government is taking robust measures to improve the country’s economy. Addressing a press conference in Islamabad, he said reforms are being done in the Federal Board of Revenue (FBR) to increase revenue collection. He said weekly meetings are being held under the chair of Prime Minister Shehbaz…
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PM Shehbaz urges FBR to modernise tax system without burdening honest taxpayers
Prime Minister Muhammad Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to implement a strategy using the latest technology to expand the tax base without imposing additional burdens on honest taxpayers.
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PM Shehbaz orders immediate action to tax 4.5 million non-filers
Prime Minister Shehbaz Sharif has mandated immediate action to bring 4.5 million identified non-filers into the tax net.
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Major seizure: RTO Rawalpindi destroys 25 million smuggled cigarettes
The Regional Tax Office (RTO) Rawalpindi carried out a significant operation on Thursday to destroy a large quantity of illicit, smuggled, counterfeit, and non-duty-paid cigarettes. The estimated value of the destroyed products was approximately Rs194 million.
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PM orders rapid action against tax evaders
In a meeting held on Monday, Prime Minister Shehbaz Sharif has authorised that swift action be taken against tax evaders and defaulters. He tasked the committee to identify all obstacles and delays in the implementation of Trace and Track System (TTS) in tobacco, sugar, cement and fertilizer industries. The PM also said that action should…
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Non-filers may face bank account suspension, travel bans: FBR
The Federal Board of Revenue (FBR) has issued a stern warning to individuals who have not filed their income tax returns, stating that they could face severe consequences, including the suspension of bank accounts and restrictions on both domestic and international travel via motorways and air travel.
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Senators propose discontinuation of Rs5,000 currency note to fight corruption
Pakistan Tehreek-e-Insaf (PTI) senators are advocating for the discontinuation of the Rs5,000 currency note as a strategic move to combat corruption and inflation.
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IMF pressures Pakistan for tax reforms, calls for intensified recovery efforts
The International Monetary Fund (IMF) is urging Pakistan to intensify efforts towards tax recovery.
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PTA and FIA collaborate to bust illegal internet service providers
The Pakistan Telecommunication Authority (PTA), in collaboration with the Federal Investigation Agency (FIA), executed two highly effective operations in Sargodha targeting unauthorised internet service providers. The initial operation unfolded in the RB Block of Rose Valley Society, while the second operation was conducted at Burj-e-Umar Plaza on Mian Khan Road, as detailed in an official…