FBR to reintroduce track and trace system for tobacco products by the end of June 2021

FBR to reintroduce track and trace system for tobacco products by the end of June 2021

The Federal Board of Revenue (FBR) may reintroduce the track and trace system for tobacco products through a modified strategy in late June 2021, when a high court ruled that the previous system was not…

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Highlights, New Taxes, Relief and Incentive Measures in Budget 2021-2022

Highlights, New Taxes, Relief and Incentive Measures in Budget 2021-2022

The government presented the next fiscal year’s (2021-2022) budget with a total volume of over Rs. 8 trillion. While presenting the federal budget for financial year 2021-2022, the finance minister Shaukat Tarin presented speech in…

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FBR Records historic growth again in May, 18% Growth in 11 Months

FBR Records historic growth again in May, 18% Growth in 11 Months

Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the first eleven months of current fiscal year. According to the provisional information, FBR has collected net revenue of Rs. 4,170 billion…

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Tax Deadline 2021 for World Corporate Income Taxes

Tax Deadline 2021 for World Corporate Income Taxes

Here, Tax deadlines for 2021, Income Tax Due dates or Tax Calendar is given for Individuals, Association of Persons (AOPs) and Company (Corporate Sector) of Pakistan and for World Corporate Income Tax deadlines for all…

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SHC suspends FBR’s Rs25 billion deal for Implementation of Track & Trace system

SHC suspends FBR’s Rs25 billion deal for Implementation of Track & Trace system

Implementation of Trace and Track system introduced by FBR is no doubt very important step of government and FBR. From the start of its development it has become controversial. The contract awarded for implementation of…

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Track and Trace System: Contract signed between FBR and AJCL

Track and Trace System: Contract signed between FBR and AJCL

The Federal Board of Revenue and AJCL along with its lead partners Authentix Inc. USA and Mitas Corporation of South Africa signed a contract to operate the tracks and trace systems for specific sectors such…

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FBR introducing tax stamps for track & trace system from July 2021

FBR introducing tax stamps for track & trace system from July 2021

The Federal Board of Revenue (FBR) expects to introduce tax stamps on products in various sectors from July 2021. FBR said the installation of track and trace systems in various sectors would be a game…

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Non-textile sector DLTL refunds approved

Non-textile sector DLTL refunds approved

To facilitate exporters, the Ministry of Commerce has approved Rs. 213 million under the ‘Draw Back of local taxes and levy (DLTL) refunds for the non-textile sector. “I am pleased to announce that Rs 213…

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FBR’s datewise activities in year 2020

FBR’s datewise activities in year 2020

FBR ISSUES CLARIFICATION (Federal Board of Revenue has issued a clarification regarding extension in Prime Minister’s Construction package.) Dec 31, 2020 2.19 MILLION INCOME TAX RETURNS FILED Dec 26, 2020 SMUGGLED GOODS WORTH 29 BILLION SEIZED…

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Finance Act 2020 | FBR Budget Salient Features | Tax Year 2021 |

Finance Act 2020 | FBR Budget Salient Features | Tax Year 2021 |

Finance Act 2020 | FBR Budget Salient Features | Tax Year 2021 | Industrial Relief Measures Exemption of additional custom duties on those tariff lines which are now @ 0%customs duty in tariff. Reduction of…

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