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

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7 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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Revolution in Pakistan’s Livestock Industry: Fongrow Farms’ IVF Training Is Led by Brazilian Experts

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1 day ago

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With the help of SIFC, Fongrow is implementing a new project at its Livestock Farms in Khanewal that is significantly boosting Pakistan’s economy and food security.

The business has started an advanced training course on reproductive technology, with an emphasis on IVF, embryo transfer, and ovum pickup. Brazilian professionals are among the international experts leading this three-week training.

Through the introduction of innovative procedures that will improve livestock reproduction, raise the production of milk and meat, and ultimately improve the nation’s food security, the program is anticipated to transform the livestock sector.

More calves can be raised with the use of IVF and ovum pickup techniques, increasing livestock yield overall.

To give Pakistani veterinary experts and embryologists the most up-to-date information on animal breeding, the training program offers them contemporary learning possibilities.

With SIFC’s help, Fongrow is spearheading agricultural innovation, advancing Pakistan’s food security and sustainable farming practices.

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The price of petrol in Pakistan may experience an increase starting February 1, 2025.

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The government led by Prime Minister Shehbaz Sharif is anticipated to increase fuel and diesel prices starting February 1, 2025, further impacting inflation-affected citizens.

The increase in crude oil prices has raised apprehensions over more escalations in the prices of petroleum products domestically.

Sources indicate that petrol prices may increase by Rs3 per litre, while high-speed diesel (HSD) is anticipated to rise by Rs6 per litre in the forthcoming fortnightly review.

The Oil and Gas Regulatory Authority (Ogra) will submit a summary to the relevant ministry, recommending adjustments based on international oil price trends and exchange rate fluctuations.

A conclusive decision will be rendered following discussions between Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif, with an official statement anticipated on January 31.

In the previous review, the government had increased petrol prices by Rs3.47 per litre, bringing the new rate to Rs256.13 per litre. The price of HSD increased by Rs2.61 per litre, establishing the new rate at Rs260.95 per litre.

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Pakistan’s gold price has skyrocketed.

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2 days ago

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On Wednesday, Pakistan’s gold price skyrocketed, mirroring worldwide market movements.

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released data showing that the price of 24-karat gold per tola increased by Rs2,300 in the local market, reaching its highest level ever at Rs288,700.

The price of 10 grams of 24-karat gold also went up by Rs1,972, to Rs247,513.

On Wednesday, the price of gold increased by $22 on the global market as well, reaching $2,763 per ounce with a $20 premium.

Silver prices in the local market increased by Rs28 to Rs3,391 per tola.

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