purchases

Freezing bank accounts, banning property, vehicle purchases proposed for tax evaders D_Trends

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Freezing bank accounts, banning property, vehicle purchases proposed for tax evaders D_Trends

A representational image showing the FBR logo. — FBR website/File FBR proposes Rs1m fine for incomplete, incorrect tax returns. Recommends policy changes for the incorrect tax documents. Third-party audit, use of AI proposed for increased transparency. ISLAMABAD: As the Prime Minister Shehbaz Sharif-led government aims to address its fiscal woes, the  Federal Board of Revenue (FBR) … Read more

Govt imposes austerity measures: Ban on state-funded vehicle purchases and overseas medical treatment D_Trends

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Govt imposes austerity measures: Ban on state-funded vehicle purchases and overseas medical treatment D_Trends

ISLAMABAD: In a decisive move to enforce austerity, the federal government has announced a “complete ban” on several types of expenditures, including the purchase of new vehicles and state-funded medical treatments abroad. This directive, issued by the Finance Division this week, is part of broader efforts to reduce public spending amidst growing criticism over the … Read more

FBR has increased taxes on property purchases D_Trends

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FBR has increased taxes on property purchases D_Trends

ISLAMABAD: The Federal Board of Revenue (FBR) has isued excise duty on property purchases for developers and builders, Express News reporeted. The notification issued on Thursday modifies the Federal Excise Rules 2005. According to the notification, a developer is defined as an entity that transforms land into residential or commercial plots for sale. This includes housing societies, cooperative … Read more