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Established as the Central Board of Revenue on 1 April 1924 through enactment of the "Central Board of Revenue Act, 1924".In 1944, the CBR was put under the Revenue Division with the Ministry of Finance until 1960, when on the recommendations of the "Administrative Reorganization Committee", the CBR was made into a division of the Ministry of Finance.
The Inland Revenue Service (IRS) is a department of the Federal Board of Revenue (FBR) in Pakistan. It was established in 2009 and holds the responsibility for overseeing various aspects of domestic taxation, encompassing Sales Tax, Income Tax, and Federal Excise Duty.
The term login comes from the verb (to) log in and by analogy with the verb to clock in. Computer systems keep a log of users' access to the system. The term "log" comes from the chip log which was historically used to record distance traveled at sea and was recorded in a ship's log or logbook.
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
Taxation in Pakistan is a cornerstone of the country’s economic framework, managed by the Federal Board of Revenue (FBR). The FBR operates under the Ministry of Finance and is tasked with formulating tax policies, collecting federal taxes , and ensuring compliance with tax laws.
All these transactions and any other transactions by Government of Pakistan, are captured in the SAP ERP and then the information is used to generate monthly, quarterly and yearly financials. The Controller General of Accounts is appointed by the President from amongst the officers of the Accounts Group and shall hold a civil service rank of ...
The Pakistan Single Window (PSW) stands as a prominent undertaking spearheaded by Pakistan Customs.Its overarching objective is to diminish the time and expenses associated with conducting business by transitioning Pakistan's cross-border trade into a digital realm, thereby eliminating the need for paper-based manual procedures.
Raast (Urdu: راست; lit. ' direct ') is an instant payment system developed by the State Bank of Pakistan (SBP). [1] It operates using the state-of-the-art Pakistan Faster Payment System (PFPS), facilitating real-time settlement of small-value retail payments, including inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [2]