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The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxation measures and expenditure cuts. The budget was accepted the next day.
The initial phase was signed on 24 November 2006, and concluded in December 2012. [6] The second phase was signed on 28 April 2019, and came into force on 1 January 2020. [7] Phase two will conclude in 2024. [8] The objective of the first phase was to reduce tariffs on 85% of product lines, eliminating them completely on at least 36%. [9]
The Federal Board of Revenue (FBR) (Urdu: وفاقی بورڈ محصولات), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax ...
Additionally, the FBR plays a crucial role in drafting tax-related legislation and implementing measures to combat tax evasion. The taxation system in Pakistan encompasses both direct and indirect taxes, which contribute significantly to the nation’s revenue.
In May 2022, the FBR (Federal Board of Revenue) executed the transfer and posting of 24 senior officers within the IRS. [6] Subsequently, in August 2022, 21 senior officials of the IRS were also transferred and posted, and among the changes was the appointment of Malik Amjad Zubair Tiwana as the new Member (IR Operations) of the FBR. [7]
Global map of countries by tariff rate, applied, weighted mean, all products (%), 2021, according to World Bank.. This is a list of countries by tariff rate.The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
Following Coronavirus in 2020 foreign investment in domestic bonds "left the country", [5] while in June 2023 FDI fell to a twelve-year low. [6] The establishment of the SIFC is seen as a response to the requirement for economic revitalization during Pakistan's economic crisis, specifically addressing the obstacles posed by bureaucratic red tape and intricate regulations that act as deterrents ...
Federal Board of Revenue (FBR; Urdu: وفاقی آمدنی هيئت) — Peru: Superintendencia Nacional de Aduanas y de Administración Tributaria (Peru ) [sunat.gob.pe/] — Philippines: Bureau of Internal Revenue (BIR; Filipino: Kawanihan ng Rentas Internas) — Poland