FBR updates, income tax, budgets and markets for Pakistan
234 articles
The Federal Board of Revenue (FBR) on Monday directed Tier-1 retailers to integrate themselves with FBR’s Point of Sales (POS) System by the given deadline otherwise they will be denied input tax…
Federal Board of Revenue (FBR) has strongly rebutted the malicious disinformation campaign being spread on the social media against the proposed Service Charge @ of Rs.1 to be collected on all invoices…
In Pakistan taxation or non-taxation of foreign remittances has historically been in the spotlight both from the tax policy and tax law enforcement perspectives – more so, since early 1970s. In the…
In line with the Government’s resolve towards broadening of tax base and documentation of economy, Dr. Muhammad Ashfaq Ahmed, Chairman FBR has initiated a huge challenge to plug in tax evasion of…
Federal Board of Revenue (FBR) issues SRO No 1063(1)/2021, Dated: 24th August 2021 regarding the procedures and requirements for issuance of license to vendors for integration and installation of point of sales…
The Federal Board of Revenue (FBR) will allow input tax credit against electronic data of supplies by the persons registered in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB). The FBR has…
Dr Ashfaq Ahmed has been appointed as the new FBR chairman. This is the seventh time the government is appointing the FBR chairman. He replaces Asim Ahmed — who was appointed four…
Federal Board of Revenue (FBR) issued Press release today (on 22nd August, 2021) regarding the scheduled downtime of it's systems (which includes FBR websites, Iris, Taxasaan application, eFBR, and sales tax etc.,).…
On the question of a journalist Finance Minister Shaukat Tarin informed that he has decided to take a third-party view before taking any action in case of the worst ever cyber-attack that…
Federal Board of Revenue (FBR) has issued the explanation regarding latest situation pertaining to service optimization of FBR Data Center. FBR has clarified that all applications having public interface have been operationalized…
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 July 2021. In its letter to…
The Federal Board of Revenue (FBR) has been the target of a cyber attack by hackers that has shut down all government websites operated by the FBR. The closure of FBR websites…
Directorate General of Customs Valuation Karachi has increased customs values of the accessories of the Chinese-origin mobile phone accessories for correct assessment of duties and taxes at the time of import clearance.…
In the wake of increased prices of steel products in the domestic & international markets, Federal Board of Revenue (FBR) has increased the minimum prices of steel products vide SRO 985 dated…
Federal Board of Revenue has issued a clarification on a news story titled “FBR issues thousands of suspicious exemption certificates” appearing in a magazine with the name “Profit” in its edition of…
The government of Balochistan has installed online tax collection system. This online tax system will help to boost the the revenue receipts and will promote tax culture in the biggest province of…
Federal Board of Revenue (FBR) on Monday launched prize scheme for customers of retailers, who integrated their sales through point of sales (POS) with the FBR's tax system. The FBR issued SRO…
The Islamabad High Court (IHC) has reserved their judgment in the case of selection of the successful company for the implementation of the track and trace system for different industries. These industries…
The Federal Board of Revenue (FBR) has dismissed 29 officials from civil service on charges of inefficiency and misconduct. These dismissals have been done in the past one year. The officials dismissed…
The Federal Board of Revenue (FBR) has advised Tier-1 Retailers to integrate their systems with the revenue authority, failing which they would be denied credit for input tax equal to 60 per…