News
FBR misses monthly tax revenue target again
11+ hour, 49+ min ago (202+ words) The Federal Board of Revenue (FBR) has once again failed to meet its monthly tax revenue target, with the tax shortfall in the first 11 months of the current fiscal year likely to exceed Rs860 billion. According to sources, the tax collection…...
FCC strikes down controversial Section 7 E of income tax law
3+ week, 2+ day ago (143+ words) ISLAMABAD: The Federal Constitutional Court has declared Section 7 E of the Income Tax Ordinance null and void, dismissing all appeals filed by the Federal Board of Revenue (FBR) seeking its reinstatement. Under Section 7 E, taxes were imposed even on plots…...
Punjab approves Rs1. 14b for purchase of new vehicles for bureaucrats
3+ mon, 5+ day ago (216+ words) LAHORE: The government of Punjab has decided to purchase 108 new vehicles worth Rs1. 14 billion for ministers, senior bureaucrats and official inspection teams during the current fiscal year. According to official sources, the transport wing has submitted recommendations to the provincial cabinet…...
Expanding tax base, reducing tax burden on poor- government's top priority: PM
10+ mon, 2+ week ago (331+ words) ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Monday said that expanding the tax base and reducing the burden of taxes on the poor were among the top priorities of the government. He was chairing a meeting here to review progress…...