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The Federal Board of Revenue (FBR) provides clarification regarding the distinction between filers and non-filers.

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5 months ago

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The spokesperson for the Federal Board of Revenue (FBR), Bakhtiar Ahmed, stated that out of a total population of 250 million, just 2.5 million individuals are not registered as taxpayers.

He reassured women who manage households that they need not be concerned, as they are neither non-filers nor students without a CNIC. According to the FBR spokeswoman, non-filers are individuals who do not submit their tax returns even though they have taxable income.

Bakhtiar stated that the Federal Board of Revenue (FBR) will provide a list to the Federal Investigation Agency (FIA) in order to prevent individuals who have not filed their taxes from traveling overseas.

The budget for 2024-25 includes a proposal from the federal government to impose substantial levies and implement additional measures targeted at individuals who are not filing their taxes.

The government has proposed a prohibition on overseas travel for individuals who have not filed their taxes in the Budget for the fiscal year 2024-25.

According to the budget proposal, individuals who have not filed their taxes will be required to pay a tax rate of 75 percent on mobile phone calls. According to the sources, there is a proposal to eliminate the tax exemption for electric vehicles valued at over USD 50,000.

In order to include those who have not filed their taxes in the tax system, the federal government has proposed imposing an extra tax on non-filers. The FBR is striving to increase tax income through rigorous enforcement.

It is important to note that the Federal Board of Revenue (FBR) has deactivated SIM cards of individuals who have not filed their taxes in the first stage. In the second stage, their power and gas connections may also be terminated.

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SIFC Promotes International Honey Trade: Malaysia Becomes an Export Destination for KP 60,000 Honey Farms

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23 hours ago

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The successful arrival of Khyber Pakhtunkhwa’s first batch of SIDR honey in Malaysia is a major turning point for Pakistan’s honey sector.

The special investment facilitation council is helping to raise the profile of Pakistan’s agricultural exports internationally.

The Ministry of Commerce is dedicated to increasing Pakistan’s honey exports internationally, and the Pakistani high commission in Kuala Lumpur has been instrumental in fostering collaborations between Malaysian and Pakistani companies.

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The KSE-100 is getting closer to the 100,000 level thanks to bullish momentum.

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23 hours ago

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At 98,164.24 points, the benchmark KSE-100 Index is just 1,800 points away from the much-anticipated 100,000 level and is approaching a historic milestone.

Favorable macroeconomic indicators and high investor confidence have propelled the index’s bullish momentum as of 9:47 a.m. today.

The KSE-100 had a significant increase of 469.84 points, or 0.48%, on Friday, closing at 97,798.23 points. Market optimism was indicated by the index’s quick spike to an intraday high of 99,623.03 points.

Analysts have increased their estimates, predicting that by the end of 2025, the KSE-100 might rise to 120,000. Continued improvements in macroeconomic conditions, such as declining bond yields, are anticipated to be the main drivers of this spike since they are bringing more liquidity to the equities market.

Following the drop in bond yields, mutual funds have made about $132 million in investments in Pakistani stocks since January 2024. This influx of funds is considered a favorable indicator of investor sentiment.

The market has also risen as a result of the State Bank of Pakistan’s decision to reduce interest rates by a total of 700 basis points, from 22% in May 2024 to 15% now.

The All-Share Index, which measures the overall market, also showed robust gains. With a net increase of 280.51 points, or 0.44%, it was at 62,376.87 points. Expectations of additional growth in the equity market are being bolstered by this encouraging trend.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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5 days ago

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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