The tax year in Pakistan begins on July 01 and ends on June 30 of the next year. Earlier, most of the tax changes and amendments were introduced in the annual budget through the finance bill and finance act. However, recently, due to uncertainty in the economic environment and the pressures of international funding institutions, the government of Pakistan is compelled to introduce tax changes even during the tax year. Therefore, I thought to create a blog post.
This post will have links to the latest changes introduced in the tax system of Pakistan. I will add links from famous newspapers and websites such as Business Recorder, Dawn, Jang, The News, Fbr, and PkRevenue. The links will be listed in descending order so that you see the latest ones first.
PM raises minimum wage to Rs25,000; pensions hiked by 10pc
https://www.brecorder.com/news/40166780/pm-raises-minimum-wage-to-rs25000-pensions-hiked-by-10pc
IT Services or IT Enabled Services – PSEB – Registration
https://www.youtube.com/watch?v=9R7jcZTH2jg
https://www.youtube.com/watch?v=mUgziUmW5pY
SBP holds rates, hints at early MPC meet if needed
https://www.thenews.com.pk/print/939913-sbp-holds-rates-hints-at-early-mpc-meet-if-needed
FBR jacks up property valuation rates by 25 to 250 pc
https://www.thenews.com.pk/print/938470-fbr-jacks-up-property-valuation-rates-by-25-to-250-pc
https://fbr.gov.pk/valuation-immovable-properties/131220
Whiten black money at 5pc: PM Imran Khan unveils yet another amnesty scheme
PM Imran Khan cuts petrol, diesel prices by Rs10/litre, power tariff by Rs5/unit
Package approved for Freelancers
https://jang.com.pk/news/1053958
Pak officials, politicians, businessmen held accounts in Switzerland
New leaks unmask wealth parked at Swiss bank
https://www.thenews.com.pk/print/935450-new-leaks-unmask-wealth-parked-at-swiss-bank
Revised Profit Rates of National Savings Schemes
http://savings.gov.pk/wp-content/uploads/Revision-in-Rates-of-NSS.pdf
Rs160 bn tax to be slapped on salaried class
IMF approves $1 bn loan tranche for Pakistan
https://www.thenews.com.pk/print/930342-lead
India to launch its own digital currency in 2022-2023
Moderation in demand growth: SBP holds policy rate with inflation, CAD seen easing
Corruption increased in 2021: TI
https://www.thenews.com.pk/print/928090-corruption-increased-in-2021-ti
Abstaining senators allow SBP bill to sail through
https://www.thenews.com.pk/print/928907-sbp-bill-sails-through-senate-opp-fails-despite-majority
PTA Clarification regarding ‘PTA Tax’
https://www.pta.gov.pk/en/media-center/single-media/pta-clarification-250122
Debit Cards will be issued to National Savings customers
https://jang.com.pk/news/1041134
Govt to connect 74 departments with Pakistan Single Window
https://www.thenews.com.pk/print/927695-govt-to-connect-74-departments-with-pakistan-single-window
Procedure to claim the prize money of FBR POS Invoice Scheme
https://twitter.com/FBRSpokesperson/status/1484183173479215105
Ishaq Dar’s Column on Pakistan’s Economy
https://jang.com.pk/news/1038392
FBR POS Prize Winners
https://www.fbr.gov.pk/pos-prize-winners/163085/173378
SBP Amendment Bill to land in senate next week
https://www.thenews.com.pk/print/925292-sbp-amend-bill-mini-budget-to-land-in-senate-next-week
13 other bills also approved in NA besides mini-budget
https://jang.com.pk/news/1037397
Opposition fails to stop passage of mini-budget
https://www.thenews.com.pk/print/924961-opp-fails-to-block-passage-of-mini-budget
FAQs – POS Integration
https://fbr.gov.pk/pos-faqs/163085/163092
FAQs – POS Prize Scheme
https://help.fbr.gov.pk/?p=8777
SBP’s committee for ban on cryptocurrency
https://www.thenews.com.pk/print/924769-sbp-s-committee-for-ban-on-cryptocurrency
SHC order on foreign assets statement suspended
https://www.dawn.com/news/1668756/shc-order-on-foreign-assets-statement-suspended
Rs258 bn aggregate profits: Pakistan stock market claims highest profit in 10 years
Pakistanis lose Rs17.7 billion to online cryptocurrency fraud
SBP announces a new era for banking with a Licensing & Regulatory Framework for Digital Banks
https://www.sbp.org.pk/press/2022/Pr-03-Jan-2022.pdf
FBR to launch National Sales Tax Return
https://www.thenews.com.pk/print/922902-fbr-to-launch-national-sales-tax-return
The tax directory of parliamentarians, issued by the FBR
https://www.thenews.com.pk/print/922288-parliament-big-names-minimal-tax
Strict IMF conditions: Interview with Shaukat Tarin
https://www.youtube.com/watch?v=e-4C0Yet4m8
National Savings Launches Debit Card Facility
https://propakistani.pk/2021/12/29/national-savings-launches-debit-card-facility
Rs343 bn mini-budget tabled: Computers, cell phones, bakery items go dearer
More than 50 countries have introduced restrictions for cryptocurrencies
https://bctd.news/posts/more-than-50-countries-have-introduced-restrictions-for-cryptocurrencies
Govt mulls to bring mini budget through ordinance: Rabbani
https://www.thenews.com.pk/print/919076-govt-mulls-to-bring-mini-budget-through-ordinance-rabbani
Over 100 MPs not paying income tax
https://www.thenews.com.pk/print/919058-over-100-mps-not-paying-income-tax
Mini-budget withdrawn from cabinet after stiff opposition
https://www.thenews.com.pk/print/918813-mini-budget-withdrawn-from-cabinet-after-stiff-opposition
$1B in foreign exchange sold after Erdoğan’s announcement
https://www.dailysabah.com/business/economy/1b-in-foreign-exchange-sold-after-erdogans-announcement
Russian central bank to seek ban on investment in cryptocurrencies
SBP tightens rules on buying foreign currency
https://www.dawn.com/news/1664735
16,000 sacked employees restored
https://www.thenews.com.pk/print/917616-16-000-sacked-employees-restored
Small and Medium Enterprises Policy: Rs10m collateral-free loans for new SMEs
https://www.thenews.com.pk/print/917044-rs10m-no-guarantees-loans-for-new-smes
FBR Rebuts Disinformation About POS Integration Drive on Social Media
https://www.fbr.gov.pk/fbr-rebuts-disinformation-about-pos-integration-drive-on-social-media/173273
NADRA may compute income, tax liability of non-filers
https://www.brecorder.com/news/40138843
SBP launches Asaan Mobile Account
https://www.thenews.com.pk/print/916547-sbp-launches-asaan-mobile-account
Mini budget next week: Many items to become pricier
https://www.thenews.com.pk/print/915724-mini-budget-next-week-many-items-to-get-pricier
Purchasing from POS-integrated retailers: FBR announces prize scheme for customers
https://www.thenews.com.pk/print/915847-purchasing-from-pos-integrated-retailers-fbr-announces-prize-scheme-for-customers
https://www.fbr.gov.pk/FBR-announces-prize-scheme-for-shoppers-of-POS-integrated-retailers/163085/163264
Profit Rates of National Savings Schemes (w.e.f. 10-Dec-2021)
http://savings.gov.pk/wp-content/uploads/NSS-Rates.pdf
FBR Holds in Abeyance New Property Valuation till January 16, 2022
https://fbr.gov.pk/fbr-holds-in-abeyance-new-property-valuation-till-january-16-2022-/163254
Valuation of Immovable Properties
https://fbr.gov.pk/valuation-of-immovable-properties/51147/131220
https://download1.fbr.gov.pk/SROs/202112210125043642Karachi.pdf
FBR Social Media Handles
https://www.fbr.gov.pk/fbr-socialmedia-handles/152832
Immovable property: FBR ups property valuation rates
It’s a must for real estate agents to get registered with FBR
Penalty for issuing unauthorized sales tax invoice
https://pkrevenue.com/penalty-for-issuing-unauthorized-sales-tax-invoice
SECP amends regulations to help start-ups, small firms
https://www.dawn.com/news/1659888
FBR develops Single Sales Tax Portal to facilitate taxpayers
https://www.fbr.gov.pk/fbr-develops-single-sales-tax-portal-to-facilitate-taxpayers/163195