Tag Archives: Taxation

FBR’s Tax Registration Drive: Progress and Challenges The Federal Board of Revenue (FBR) has been conducting a tax registration drive for nearly five months across 42 cities, successfully bringing thousands of traders onto the tax roll. However, under the Tajir Dost Scheme (TDS), the average income tax collected from an individual trader remains low at just Rs2,432 per month. Tax …

Introduction For the third consecutive fortnight, the prices of major petroleum products—petrol and high-speed diesel (HSD)—are anticipated to decrease by approximately Rs5-6 per litre. This reduction is primarily attributed to the declining international market rates for the fortnight commencing September 1. International Market Influences Informed sources have indicated that the prices of petrol and HSD have fallen in the international …

Federal Finance Minister Mohammad Aurangzeb recently suggested that there may be opportunities for further reductions in interest rates. Speaking at an event hosted by the Karachi Chamber of Commerce, Aurangzeb emphasized the crucial role of effective macroeconomic governance in fostering economic growth. He noted that structural issues in the economy often lead to balance of payment problems, particularly as growth …

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has urged Pakistan to implement progressive taxation policies that target the wealthy and safeguard the interests of the nation’s impoverished citizens. Georgieva made this recommendation during her meeting with Interim Prime Minister Anwaarul Haq Kakar on the sidelines of the United Nations General Assembly (UNGA). In an interview with a Pakistani private …

Introduction: The Federal Board of Revenue (FBR) has recently announced important amendments to the Income Tax Ordinance, 2001 through Finance Act 2023, which includes significant changes to the Super Tax structure. These changes aim to broaden the scope of the Super Tax and make it a more progressive and comprehensive tax measure. New Super Tax Slabs for Banks and Businesses: …

Introduction: In a bold and visionary move, the administration of President Kennedy has unveiled a plan to reimagine the U.S. financial system by embracing the concept of a hard currency standard, with Bitcoin playing a central role. This potential policy envisions a future where the U.S. dollar’s eroding position as the world reserve currency is reinforced by the absolute scarcity …