Updates
Single Sales Tax Portal a Step Away
Prime Minister Imran Khan is likely to launch the Federal Board of Revenue’s new single sales tax portal for filing of single sales tax returns by all federal and provincial sales taxpayers…
Updates Page 5
234 articles
Updates
Deadline for Digital Mode of Payments Proposed to further extend
Federal Board of Revenue (FBR) is examining a proposal to further extend time period beyond November 1, 2021 for the corporate sector to shift over to the digital mode of payments. FBR…
Updates
ePay Punjab completes Half century of 50 Billion plus Revenue collections
Through the online payment solution e-Pay Punjab, the Punjab Finance Department has collected Rs 50 billion as tax revenue against over 10 million transactions to date. This was informed during a progress…
Updates
FBR will notify revised rates of immovable property by November
The Federal Board of Revenue (FBR) will notify revised valuation of immovable property by November 1. According to report published in Business Recorder, the Board had extended the last date of October…
Updates
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…
Updates
No Warning from FBR before freezing taxpayers bank accounts
The Federal Board of Revenue (FBR) has withdrawn its clause that directed the Board to warn taxpayers 24 hours prior to freezing their bank accounts. The business community is not happy over…
Updates
Will FBR extend last date in filing income tax returns 2021?
The Federal Board of Revenue (FBR) on Wednesday cleared that it is not considering an extension in the date for filing annual income tax returns after deadline of October 15 2021. According…
Updates
Current figures of income tax returns filing for tax year 2021
The Federal Board of Revenue (FBR) has received record number of 2.163 million income tax returns for the tax year 2021 up to October 11, 2021. According to media reports here on…
Updates
FBR urges taxpayers to file Income Tax Returns without delay
Federal Board of Revenue (FBR) has once again urged all the taxpayers, both old and new, to make the most of one-time extension of 15 days granted for filing of Income Tax…
Updates
Major changes in NAB Ordinance
The power to appoint NAB Chairman will be exercised by none other than the president himself under the National Accountability Bureau Amendment Ordinance (NAO) 2021, which he promulgated on Wednesday. It says…
Updates
Photo shopped fake version of FBR Website
The Federal Board of Revenue (FBR) on Saturday clarified that no extension will be given for the filing of income tax returns after October 15, 2021. The tax authority's reaction comes after…
Updates
FBR extended Tax Return Filing Date 2021
Pakistani citizens still have the opportunity to file their income tax returns as the last date for tax returns for 2021 has been extended by by the Federal Board of Revenue (FBR).…
Updates
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…
Updates
Current figures of tax filings for tax year 2021
Federal Board of Revenue (FBR) has currently received just one million income tax returns with only five days left in the returns’ deadline, underscoring that the tax broadening campaign is not yielding…
Updates
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…
Updates
FBR categorically rejected news of extension in date of filing income tax returns
A spokesman for the Federal Board of Revenue has vehemently denied reports in some newspapers of extending the date for filing income tax returns, saying no proposal was being considered at FBR…
Updates
NADRA empowered to use artificial intelligence to increase tax base
National Database and Registration Authority (NADRA) has been empowered by government to compute income and tax liability of any citizen by use of artificial intelligence, mathematical or statistical modelling or any other…
Updates
Separate FBR Iris portal for overseas Pakistanis for Income Tax Return filing
Federal Board of Revenue (FBR) on Tuesday issues press release and announced that a separate FBR Iris portal has been issued to facilitate non resident Pakistanis (overseas Pakistanis). By considering the issues…
Updates
FBR says No extension in Returns filing date after 30th September 2021
Federal Board of Revenue (FBR) Thursday decided for no extension in tax returns filing date after September 30, 2021 to ensure the in-time tax collection in the country. Improvement of tax compliance…
Updates
FBR to deny 60 % Input Tax to Non-Integrated Tier-1 Retailers
Federal Board of Revenue (FBR) in its drive to integrate Tier-1 Retailers across the country, has issued Sales Tax General Order No.2 of 2022 by which a system-based approach has been adopted…