FBR updates, income tax, budgets and markets for Pakistan
234 articles
Chairman of the Pakistan Pharmaceuticals Manufacturing Association (PPMA) explained the problems facing by the Pharmaceutical manufacturers, importantly the issues relating to refund of sales tax. These issues result in unnecessary wastage of…
In this regard a Memorandum of Understanding (MoU) was signed between the FBR and Pakistan Tax Bar on February 07, 2022 at FBR HQ Islamabad. The FBR said that in a historic…
The Federal Board of Revenue (FBR), here on Wednesday, decided to implement it's sales tax refund system named “FASTER-Pharma” for the pharmaceutical sector. It will process the sales tax refunds within 48…
The Federal Board of Revenue (FBR) in collaboration with the Federal Investigation Agency (FIA) and the Nadra on Tuesday launched the ‘Automated Currency Declaration System’ (ACDS) for real time recording of foreign…
The Federal Board of Revenue (FBR) has imposed / increased regulatory duty on the import of luxury vehicles from January 27, 2022. According to a notification SRO.157(I)/2022 issued on Saturday, the FBR…
The Federal Board of Revenue (FBR) on Tuesday suspended again the new revised property valuation rates notified through SROs No 1534(1)/2021 to 1572(1)/2021 dated December 1, 2021 up to January 31, 2022.…
The Federal Board of Revenue (FBR) has extended the date of payment and submission of Sales Tax and Federal Excise Return for the Tax Period of December 2021. The date has been…
After a lot of wait and speculation, the National Assembly has finally approved the mini-budget, which has created trouble for the car industry. If you remember, the government proposed several Federal Excise…
The Government has announced massive increase in the taxes on cars with the approval of the Mini-Budget (State Bank of Pakistan (Amendment) Bill 2021 and Supplementary Finance Bill 2021 ). The Government…
The Federal Board of Revenue (FBR) has started budget preparation exercise for 2022-2023. In this regard, the FBR has issued a letter to all Chamber of Commerce and Industry seeking customs-related budget…
On the plea of the Federal Board of Revenue (FBR), the Supreme Court of Pakistan has suspended the Sindh High Court (SHC) order which declared illegal the issuance of FBR notices to…
Achieving yet another significant milestone towards digitization & data integration to facilitate taxpayers, promote ease of doing business, harmonizing Sales Tax & reduce compliance costs, FBR has launched its National Sales Tax…
Building further on its ongoing drive for digitization to facilitate the taxpayers, promote ease of doing business and reduce compliance costs, FBR achieved one more milestone by developing National Sales Tax Return.…
Federal Minister for Finance and Revenue, Shaukat Tarin, has ruled out the speculations, being expressed by many, that the supplementary finance bill will cause an increase in inflation. Addressing a press conference,…
Federal Minister for Finance and Revenue, Shaukat Tarin, has ruled out the speculations, being expressed by many, that the supplementary finance bill will cause an increase in inflation. Addressing a press conference,…
The Federal Tax Ombudsman (FTO), in pursuance of Own Motion (OM) investigation powers conferred to him under Section 9(1) of the Federal Tax Ombudsman Ordinance, 2000 (FTO Ordinance), has ordered to probe…
The Federal Board of Revenue’s (FBR) technology head has resigned from his position due to differences over his salary package. Chief information officer (CIO) resigns on over four times higher salary than…
The Federal Board of Revenue (FBR) has decided to revise the prescribed “Form” for the taxpayers for filing of references to the High Courts on question of law in the tax matters.…
The telecommunication companies, courier companies, and big services providers would file a single sales tax return from January 2022 instead of multiple sales tax returns with the provincial revenue authorities of Punjab,…
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said that the government is bringing a ‘mini budget’ next week under an agreement with the International Monetary Fund…