Federal Board of Revenue alerts Taxpayers about Fake and Harmful Emails

Federal Board of Revenue alerts Taxpayers about Fake and Harmful Emails

Federal Board of Revenue (FBR) received complaints from taxpayers that emails are being sent to them regarding income tax defaulters list. In a press release, Federal Board of Revenue (FBR) denied any link / relation…

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Federal Board of Revenue Introduces Automated Process for Scanning of Cargo

Federal Board of Revenue Introduces Automated Process for Scanning of Cargo

Pakistan Customs Wing of Federal Board of Revenue introduced a new automated process in WeBOC system for scanning of containerized import consignments for their instant clearance at ports. This new system by Customs was a…

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Federal Board of Revenue Rejected a News Report Published

Federal Board of Revenue Rejected a News Report Published

The Federal Board of Revenue (FBR) has rejected a report published in the Daily Business Recorder. Federal Board of Revenue (FBR) issued a press release. Where FBR has issued a denial on a news item…

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Federal Board of Revenue (FBR) ceased manual processing of income tax refunds

Federal Board of Revenue (FBR) ceased manual processing of income tax refunds

Federal Board of Revenue (FBR) ceased manual processing of income tax refunds. FBR ordered regional tax offices that process the tax refunds at central level through State Bank of Pakistan (SBP). An office order to…

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Intelligence & Investigation Inland Revenue Operation against three unregistered units

Intelligence & Investigation Inland Revenue Operation against three unregistered units

FBR action against unregistered persons who are liable to be registered and are required to pay due sales tax on their taxable supplies under the Sales Tax Act, 1990, Federal Board of Revenue’s. Directorate of…

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Proposed Federal Development Budget

Proposed Federal Development Budget

The federal development budget for the next financial year has been allocated Rs 900 billion, the federal ministries will get Rs 672 billion. According to the documents, Rs 110 billion earmarked for water resources, Rs…

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FBR extends date for filing sales tax & Federal excise return for April 2021

FBR extends date for filing sales tax & Federal excise return for April 2021

Federal Board of Revenue (FBR) extended the date of payment and submission of Sales Tax and Federal Excise Return for the period of April, 2021. The date of payment of Sales tax and FED monthly…

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FBR and Provincial Revenue Authorities sign MoU on Single Portal and Return for Sales Tax

FBR and Provincial Revenue Authorities sign MoU on Single Portal and Return for Sales Tax

Federal Board of Revenue (FBR) and all other four Provincial Revenue Authorities have signed a Memorandum of Understanding (MoU) for a single web portal for sales tax return. The memorandum of understanding (MoU) was signed…

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Sales Tax Relief by Punjab Revenue Authority

Sales Tax Relief by Punjab Revenue Authority

Through the Finance Act, 2020, the Government of the Punjab reduced the rate of Punjab Sales Tax on Services from 16% to 5% on more than twenty services. Punjab Revenue Authority also reduced the rate…

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Computational Errors in FBR Iris Portal identified by KTBA

Computational Errors in FBR Iris Portal identified by KTBA

Karachi Tax Bar Association (KTBA) has expressed dissatisfaction over the classification of income set in IRIS (portal for e-filing of income tax returns), citing various computational errors and glitches. In a letter sent to the…

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