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No Petrol Be Available from July 5 : Pakistan Petroleum Dealers

4Jul

By Tahreem AkramNo Comments

Pakistan

No Petrol Be Available from July 5 : Pakistan Petroleum Dealers

The Pakistan Petroleum Dealers Association (PPDA) has declared a nationwide strike starting July 5. This action is in protest against the newly implemented 0.5% advance tax on turnover, included in the federal budget for 2024-25. The PPDA claims that this tax will severely harm their businesses, which are already struggling due to high taxes and inflation. PPDA Chairman Abdul Sami Khan stated that the strike might extend beyond one day and advised dealers to keep their petrol pumps stocked until July 4. He also urged citizens to fill their vehicles before the strike begins. “We met with the finance minister, the chairman of the FBR, officials of the Petroleum Division, chairman of OGRA, and DG Oil, DG Explosive but the talks yielded no results, which is why we are striking. Doubl...

FBR give extension to file income tax returns till October 31st, 2022

The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns till 31st October 2022. The previous last date for filing income tax return for tax year 2022 was 30 September 2022. FBR had announced that it will not extend this date and has urged taxpayers to comply within the stipulated date but now FBR has extended the date to one month. The Chambers and Association had approached the FBR to extend the deadline for filing income tax returns, which expires on September 30, 2022. Karachi Chamber of Commerce and Industry (KCCI) President Mohammad Idris, in a letter sent to the Finance Minister on Monday, extended the deadline for submission of income tax returns to FBR from September 30, 2022 to December 31, 2022; Requested. Keeping in view the unusual sit...

FBR to start freezing bank accounts without warning

With FBR rules about issuing a warning to defaulters now revoked, taxmen will now be freezing bank accounts without prior warning. People including tax lawyers and business professionals objected and called it a ruling that damages ease of doing business. The Federal Board of Revenue ( FBR ), formerly known as Central Board of Revenue. A federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth and money-laundering ISLAMABAD, PAKISTAN - On Monday, The Federal Board of Revenue (FBR) made it legal for taxmen to freeze defaulter bank accounts without prior notice. This decision came in after the clause that demands tax officers to notify a person 24 hours before closing their account. While this revocation may bring positive changes int...