techjuice.pk
FBR Imposes Rs. 1 Million Fine for Tax System Violation
FBR imposes Rs. 1 million fine for tax system violations, requiring taxpayers to use electronic systems for tax-related information.
Taxation
Stories tagged “Taxation.”
30 stories
punchng.com
MAN urges Lagos to harmonise tax code
The Manufacturers Association of Nigeria (MAN) has called on the Lagos State Government to publish a harmonised tax code aligned with new tax laws to significantly reduce compliance costs for manufacturers.
The Supreme Court denies that the Treasury must return VAT on stamps to those defrauded by Afinsa
elpais.com
The Supreme Court denies that the Treasury must return VAT on stamps to those defrauded by Afinsa
Spain's Supreme Court has rejected a claim by Afinsa investors seeking a refund of VAT paid on stamp purchases between 1998 and 2005, ruling that the tax cannot be considered an "undue payment" despite the underlying fraud.
arynews.tv
JI Chief vows nation-wide protests will continue
Jamaat-e-Islami (JI) Emir Hafiz Naeem ur Rehman announced the continuation of nationwide protests, including a major rally in Lahore, against the government's economic policies and high taxes.
startuppakistan.com.pk
Salaried Class Paid Rs. 600 bn, Landlords Less than Rs. 10bn in Taxes: Asad Umar
Former finance minister Asad Umar has criticized the government's economic policies, highlighting weak economic growth, persistent inflation, and rising poverty. He also pointed out an imbalance in the country's tax system, where the salaried class contributed more than R…
theguardian.com
The Guardian view on global inequality: extreme wealth threatens democracy
The Guardian views the growing wealth gap as a threat to democracy, with extreme wealth buying political power and undermining redistributive policies. A new global push to tackle inequality is proposed, with the UK joining a new UN International Panel on Inequality.
techjuice.pk
Salaried Class Tax Collection Hits 3-Year High Despite Rate Cuts
The Federal Board of Revenue (FBR) collected Rs44 billion in Income Tax from the salaried class in July 2026, the highest collection for the month in three years, despite a reduction in tax rates.
indianexpress.com
Undisclosed foreign income? Here’s how new tax window can help
Taxpayers can now disclose foreign income and assets up to Rs 5 crore in a one-time voluntary disclosure window provided by the Income Tax Department from August 16 to December 31 under the Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST-DS).
theguardian.com
Donald Trump doesn’t just love billionaires, he loves multimillionaires too
Donald Trump's "One Big Beautiful Bill Act" disproportionately benefits millionaires and multimillionaires, particularly through pass-through business deductions, despite claims of aiding small business owners.
bolnews.com
PRA bans handwritten receipts across Punjab
The Punjab Revenue Authority (PRA) has banned handwritten receipts at restaurants, hotels, coffee shops, and marriage halls across the province, making electronic invoicing mandatory to curb tax evasion and improve sales monitoring.
Front Page: Fwamba Announces End to VAT Fraud, Shadary and Minaku Handed Over to Military Justice
rfi.fr
Front Page: Fwamba Announces End to VAT Fraud, Shadary and Minaku Handed Over to Military Justice
The Democratic Republic of Congo is grappling with an Ebola outbreak, political arrests of former President Kabila's allies, and a new crackdown on VAT fraud. Authorities are auditing Ebola funds while the virus spreads, two prominent opposition figures face military just…
theguardian.com
Palantir paid just £2m corporation tax in UK in 2024 despite lucrative public sector contracts
Palantir paid £2m in UK corporation tax in 2024, despite holding public sector contracts worth hundreds of millions. The company's effective tax rate is 1.4% globally.
timesofindia.indiatimes.com
GST collections jump 15.4% to over Rs 2.11 lakh crore in July
India's gross Goods and Services Tax (GST) collections surged 15.4% year-on-year to over Rs 2.11 lakh crore in July, driven by strong domestic transactions and imports.
Tax Lawyers Urge FBR to Fix IRIS and Review New Tax Return System
techjuice.pk
Tax Lawyers Urge FBR to Fix IRIS and Review New Tax Return System
Tax lawyers have urged the Federal Board of Revenue (FBR) to address legal and technical issues in the newly introduced Income Tax Return for Tax Year 2026 and review the recently introduced Fixed Tax Scheme for Small Traders.
inc42.com
CBDT Guidance Brings Operational Clarity To Crypto Exchanges
India's CBDT has issued CARF guidance requiring crypto exchanges to report specified transactions from 2026 via Form 167, bringing cross-border tax transparency without introducing new taxes.
propakistani.pk
FBR is Accepting Tax Returns Without Rs. 25,000 Surcharge for First-Time Filers
The Federal Board of Revenue (FBR) has started accepting Income Tax Returns for Tax Year 2026 from first-time taxpayers without charging the Rs. 25,000 surcharge. This means that first-time filers can become Active Taxpayers without paying the big fee.
propakistani.pk
Canadian National Gets 8 Years in Prison Over Undeclared Currency
A Canadian national has been sentenced to eight years in prison for attempting to take foreign currency exceeding the legal limit out of Pakistan without declaring it. The Special Court for Customs, Taxation and Anti-Smuggling convicted Raheel Dhannani and handed him sepa…
techjuice.pk
Pakistan Launches First Top Freelancer Award
Pakistan has introduced a Top Freelancer Award to recognize its independent digital workforce. Freelancers contributed $1.1 billion to a record $4.6 billion in IT and IT-enabled services exports in FY2025-26.
coindesk.com
Crypto Lobby Group TDC Sues Illinois to Block Digital Asset Tax
A crypto lobbying organization, the Digital Chamber, has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month. The tax applies to any firm based in or operating in Illinois, which provides digital asset services in the state.
propakistani.pk
Punjab Raises Card Payment Tax, Calls It 50% Relief
The Government of Punjab has increased the sales tax on digital payments, promoting it as a 50% tax relief for consumers. However, tax expert Amer Sharif points out that the government is framing the policy as a 50% relief by comparing the 8% GST on digital payments with …
cointelegraph.com
India crypto tax filings lag trading activity: Report
India's tax department found that fewer than a quarter of people who made crypto transactions reported them on tax returns. The country has an estimated 39 million crypto traders.
startuppakistan.com.pk
Hybrid Cars Face 25% Additional Tax After Budget 2026-27
Hybrid cars in Pakistan are set to become significantly more expensive under Budget 2026-27, with expiring tax concessions pushing the indirect tax burden to around 25%.
sueddeutsche.de
German Coalition Agrees on Reform Package: Tax Relief for Middle Incomes, Higher Taxes for the Wealthy
Germany's governing coalition has agreed on a comprehensive reform package aimed at revitalizing the economy, including tax relief for lower and middle incomes, increased taxes for high earners, and significant labor market adjustments.
arynews.tv
Bank transactions above Rs. 100 million to be reported
Pakistan introduces new law requiring banks to report high-value banking transactions for tax evasion prevention.
tagesschau.de
Coalition Party Leaders Consult on Reforms in the Chancellery
Germany's coalition party leaders are meeting in the Chancellery to discuss contentious points of upcoming reforms, including pension, tax, and healthcare. CDU General Secretary Linnemann indicated openness to expanding the wealth tax to finance relief for lower and middl…
bolnews.com
Are Pakistan’s Tax Expenditures Delivering Results?
Pakistan's tax expenditures amount to approximately Rs2.35 trillion, equivalent to 16.6% of the FBR's annual tax revenue target. The effectiveness of these expenditures is being questioned.
theguardian.com
When it comes to taxing the super rich, there’s no need to reinvent the wheel
The US government is considering new taxes on the super rich, but experts argue that existing taxes can be improved to raise more revenue. The current tax system has many exceptions and loopholes that allow billionaires to avoid paying their fair share.
theguardian.com
Gavin Newsom urges a national 'billionaires' tax' while fighting one in California
Gavin Newsom proposes a national tax on billionaires, while opposing a similar measure in California. He argues that a state-level tax would be ineffective and easily dodged by the wealthy.
bolnews.com
King Charles makes historic disclosure of personal tax payments
King Charles has paid over $41 million in personal taxes since ascending the throne in 2022. He is the first reigning British monarch to publicly disclose his personal tax contributions.
annahar.com
Decree on 'Waste' Sneaks into Lebanese Pockets... New Tax on Goods, Fuel, and Medicine
A new decree in Lebanon imposes taxes on various goods, including fuel, medicine, and food products, which is expected to increase prices and burden consumers.