The Federal Board of Revenue (FBR) has announced a remarkable increase in tax filings for the tax year 2024, with 4.82 million returns submitted by October 26. This represents a substantial rise compared to the previous fiscal year, when only 2.407 million returns were filed.
According to the FBR, this year’s numbers nearly doubled those of fiscal year 2023. However, the tax authority also revealed that a significant portion of the returns filed for the previous year reported no taxable income. Out of the total submissions, 1.82 million filers declared nil income, contributing no tax.
In fiscal year 2023 alone, 869,929 individuals filed nil returns, underscoring the ongoing challenge of broadening the tax base.
Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country,…
Thousands of Pakistani pilgrims may miss Hajj this year after members of the Hajj &…
Rickshaw drivers in Karachi staged a disruptive protest outside the Karachi Press Club on Monday,…
Pakistan’s Anti-Narcotics Force (ANF) has seized 200 kilograms of crystal meth, worth over Rs2 billion,…
Justice Mansoor Ali Shah, the most senior judge of Pakistan’s Supreme Court, has taken oath…
Pope Francis has died aged 88, the Vatican confirmed on Monday morning. The Argentine-born pontiff,…
This website uses cookies.