Taxation

The World Bank has suggested that Pakistan should impose taxes on monthly salaries below Rs50,000 and reduce the income threshold for the highest income tax rate of 35% from s

ISLAMABAD: The Federal Board of Revenue (FBR) has outperformed expectations by collecting Rs2,041 billion in the first quarter of the current fiscal year, surpassing the desig

A long-standing dispute in Poland regarding the classification of electric vehicle charging for VAT purposes has been resolved, with the Court of Justice of the European Union

Non-residents in Spain can now pay their tax debts by direct debit from a foreign bank account in the SEPA Zone. This new option makes it easier and more convenient for non-re

The Iranian Ambassador to Pakistan and the Chairman of the Federal Board of Revenue (FBR) met to discuss matters pertaining to customs, effective border management, and the sm

Fake sales tax invoices are a major problem in Pakistan, costing the government billions of rupees in lost revenue every year. These invoices are often used by businesses to e

The Pakistan Customs has intensified its anti-smuggling crackdown in recent weeks, seizing large quantities of essential commodities, petroleum products, and other goods worth

The definition of small and medium enterprise (SME) has been broadened to include businesses that provide or render IT services and IT-enabled services. SMEs that are exclusiv

The threshold for salary payment through cash in Pakistan has been increased to Rs 32,000 per month. This is in line with the increase in the minimum wage. Previously, salary

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