FBR provided 14m records of transactions of non-filers over to Nadra

FBR provided 14m records of transactions of non-filers over to Nadra

ISLAMABAD: A meeting on broadening of tax base was informed that the Federal Board of Revenue (FBR) has provided 14 million records of financial transactions of citizens to the National Database and Registration Authority (NADRA)…

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FBR launched Maloomat TaxRayApp: Signed MoU with NADRA: Acquired all data of filers & non-filers

FBR launched Maloomat TaxRayApp: Signed MoU with NADRA: Acquired all data of filers & non-filers

FBR claimed that it has acquired all information related to incomes, expenses and assets of filers & non-filers. FBR has acquired all authentic information of all filers and non-filers, which include: 1 million filers 1…

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FBR lifts valuation rates of immovable properties in one go up to 600 per cent

FBR lifts valuation rates of immovable properties in one go up to 600 per cent

The Federal Board of Revenue (FBR) has increased the valuation rates of immovable properties in the range of 100 to 600 per cent for 40 major cities depending upon location and commercial areas within the…

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FBR nearly finalized procedure for third party audit of taxpayers

FBR nearly finalized procedure for third party audit of taxpayers

Taxpayers, including the corporate sector, may directly receive audit notices from third-party auditors including chartered accountant firms for complete audit of the tax affairs of taxpayers to be selected for audit. Federal Board of Revenue…

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Penalty for Non Filing of Annual Income Tax Returns 2021

Penalty for Non Filing of Annual Income Tax Returns 2021

A penalty of Rs1,000 each day of default has been implemented from Saturday after the expiry of return filing date on October 15, 2021. A new amendment has been made part to the Income Tax…

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No of tax filers for tax year 2021 at deadline

No of tax filers for tax year 2021 at deadline

Against 7.2 million taxpayers registered with the Federal Board of Revenue (FBR), just 2.5 million, or 35%, filed annual income tax returns till the extended deadline that expired on Friday. The FBR now faces the…

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No Warning from FBR before freezing taxpayers bank accounts

No Warning from FBR before freezing taxpayers bank accounts

Previously, FBR had to inform taxpayers 24 hours prior to freezing their bank account.  Business community and tax bars are disappointed over FBR’s decision. Business community says FBR’s decision will be a hurdle for ease…

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Updated Penalty Provisions on failure to file the return within the due date 2021

Updated Penalty Provisions on failure to file the return within the due date 2021

The Federal Board of Revenue (FBR) has clarified that a person who fails to file the return within the due date will have to pay a penalty of higher of Rs1,000 or 0.1 percent of…

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Online vehicle token tax payment |  Vehicle token tax Calculator | Punjab | Sindh | KPK | Balochistan | Islamabad

Online vehicle token tax payment | Vehicle token tax Calculator | Punjab | Sindh | KPK | Balochistan | Islamabad

Pay Vehicle Token Tax Online in Punjab Punjab IT Board has launched an e-payment system allowing citizens to pay vehicle token tax online in Punjab without the hassle of visiting the Excise and Taxation Department avoiding long queues and…

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Govt to share tax record with NADRA through presidential ordinance

Govt to share tax record with NADRA through presidential ordinance

The federal government may introduce a presidential ordinance to provide record of existing three million taxpayers to the National Database and Registration Authority (NADRA) for the purpose to increase tax collection, but it may compromise…

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