FBR updates, income tax, budgets and markets for Pakistan
73 articles
Instructions issues by Chief Commissioner Regional Tax Office (RTO) Lahore Nasir Iqbal Khan for monitoring of sales of those Tier-1 Retailers (T-1Rs) who are resisting integration with Point of Sale (POS) system.…
In the wake of increased prices of steel products in domestic and international markets, the Federal Board of Revenue (FBR) increased the minimum prices of steel products through amendments in SRO-985 issued…
The Federal Board of Revenue (FBR) has intensified offsite and onsite inspections against Designated Non-Financial Businesses and Professions (DNFBPs) and imposed penalties on a large number of real estate agents for not…
Crude oil prices went down up to 2.75 percent for the second consecutive week after rallying for seven straight weeks in the international market. Brent, the international benchmark for two-thirds of the…
About 500,000 countrywide retailers with a tax potential of about Rs 1,500 billion are the new target of Federal Board of Revenue (FBR) to ensure growth in revenue collections. According to Business…
Excise & Taxation department has warned defaulters of property and professional taxes to deposit their due taxes immediately to avoid any strict action. This warning was given by the provincial excise minister…
FBR has completed actions on DNFBPs in the FATF action plan in just one reporting cycle and one year ahead of the deadlines in September 2022. The FATF plenary in its public…
The Federal Board of Revenue (FBR) Intelligence and Investigation (I&I) Inland Revenue (IR) has revealed that 13,401 taxpayers filed 37,469 Voluntary Tax Compliance Scheme (VTCS) returns whereas most of them were ineligible…
Jazz Telecommunication Company has been awarded the ‘Best Taxpaying Company’ award under the large taxpayers’ category (largest withholding agent nationwide) at the inaugural Taxpayer Recognition Awards organized by the Rawalpindi Chambers of…
Collectorate of Customs Export, Port Muhammad Bin Qasim (PMBQ) has identified a massive tax evasion in the import of "rejected plastic rolls waste". According to media reports, a packing company has taken…
The Federal Board of Revenue (FBR) has issued a list of 1,136 big retailers (Tier-1) who are required to be integrated with the FBR’s Point of Sale (POS) system, announcing that they…
SR0 No 127900/2021.- In exercise of the powers conferred by sub-section (1) of section 76 of the Sales Tax Act, 1990, the Federal Board of Revenue with the approval of the Federal…
Federal Board of Revenue (FBR) on Tuesday said that the process of licensing the IT Service Providers for integration of Tier-1 retailers will take time. The FBR issued Rules for licensing of…
Lucky Cement Limited has won the Best Corporate Report Award with first position in the Cement category at the much anticipated “Best Corporate & Sustainability Report Awards 2020.” The recognition was jointly…
Large Taxpayers Office (LTO) Lahore has taken action against the integrated retailers on discontinuation from the Point of Sale (POS) system despite integration with the Federal Board of Revenue (FBR). Focal person…
The Federal Board of Revenue (FBR) will enforce new amendment to Section 122 of the Income Tax Ordinance, 2001 for completion of proceedings against taxpayers within 120 days where notices were issued…
Federal Board of Revenue has issued a clarification regarding disturbance in Customs Operations due to up gradation of FBR Data Center. FBR has clarified that Customs operations have remained fully operational, throughout…
The Securities and Exchange Commission of Pakistan (SECP) has asked companies to submit information of their ultimate beneficial owners (UBOs) through the filing of Form 45, required under Section 123A of the…
FBR has launched single identifier number for all domestic taxes. Under this initiative a taxpayer can use all applications under the Income Tax, Sales Tax and Federal Excise duty by mere use…
Overseas Pakistanis have developed a 'Made in Pakistan' electric car that will be launched soon in the next three to four months in Pakistan. It is an initiative of DICE Foundation, a…