Tag Archives: Tax Compliance

In a significant move aimed at bolstering revenue and reducing the tax burden on current taxpayers, Pakistan’s Finance Minister, Muhammad Aurangzeb, announced that the government is abolishing the category of non-filers from its tax laws. Speaking in an interview with Voice of America during his visit to New York, the finance minister emphasized the need for a more streamlined and …

Tajir Dost Scheme: Only 277 Retailers Pay Taxes, Despite Over 63,000 Registrations The Tajir Dost Scheme, an initiative aimed at bringing more retailers into the formal tax net in Pakistan, has seen underwhelming participation despite a significant number of registrations. According to the latest data released by the Federal Board of Revenue (FBR), only 277 retailers have contributed a total …

The Federal Board of Revenue (FBR) has officially announced September 30 as the deadline for submitting income tax returns for the financial year 2023-24. This deadline is crucial for taxpayers across Pakistan to ensure compliance with national tax regulations and avoid potential penalties. Legal Consequences for Non-Compliance The FBR has issued a stern warning to individuals and businesses who fail …

Despite concerns about Pakistan’s growing debt, the interim government has approved a $300 million loan from the Asian Development Bank (ADB) to improve tax compliance. This move has raised questions about whether such objectives could be achieved through efficient tax collection methods rather than borrowing. The Central Development Working Party (CDWP) cleared four development projects worth Rs126.2 billion during its …