Tag: tax reform
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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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IMF urges Pakistan to expand capital gains tax scope to include cryptocurrencies
The International Monetary Fund (IMF) has advised the Federal Board of Revenue (FBR) to broaden the scope of capital gains tax (CGT) by incorporating cryptocurrencies into the tax regime.
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Federal secretaries to play key role in Customs Board as part of tax reform drive
The interim government is poised to establish a dedicated Customs Board as part of the ongoing reform initiative to oversee the operations of Pakistan Customs.
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FBR restructuring: 145 offices set up to add 2 million new taxpayers
In a bid to streamline operations, the Federal Board of Revenue (FBR) has set up 145 district tax offices, aiming to bring in 1.5 to 2 million new taxpayers by June 2024.
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Non-filers beware: Proposed increase in advance taxes on vehicles and utility bills
In an attempt to boost tax revenue and increase non-tax income, the Pakistan Business Council (PBC) has proposed the Federal Board of Revenue (FBR) to impose higher advance taxes on various sectors. The council’s recommendations primarily target non-filers and aim to generate additional funds for the government’s development initiatives.
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ADB recommends targeted subsidies and tax reforms for Pakistan’s economic recovery
The Asian Development Bank (ADB) has recommended that Pakistan implement targeted subsidies to alleviate inflationary pressures and improve the tax-to-GDP ratio in order to emerge from the current state of economic uncertainty.