FBR updates, income tax, budgets and markets for Pakistan
192 articles
FBR achieves record growth in tax collections. Federal Board of Revenue has reported a record revenue collection performance in the first six months of the current financial year 2022-23. According to FBR:…
Sindh Revenue Board collects record revenue in December. Here is a good news that Sindh Revenue Board (SRB) has made a record revenue collection of Rs 17.6 billion in December 2022. According…
FBR Reduces Additional Customs Duty on Import of Agriculture Tractors. The Federal Board of Revenue (FBR) has announced to reduce additional customs duty from 35 per cent to 15pc on the import…
Last Date to File ITR of Corporate Sector is December 31. The last date for filing annual income tax returns for corporate entities is December 31, 2022. By this deadline, the companies…
FBR Extends Working Hours on December 30-31 for Tax Collections. The Federal Board of Revenue (FBR) on Friday directed the offices of Inland Revenue LTO/MTOs/CTOs/RTOs to observe extended working hours to facilitate…
Taxpayers Alert! Time Limit for Filing ITR Passed. It is informed to all taxpayers that the due date to file an income tax return (ITR) has ended. Now, if taxpayers want to…
What is the New Tax Deadline for 2022 Pakistan? Federal Board of Revenue (FBR) has issued a circular to relax the income tax return filing deadline up to December 15, 2022. However,…
Will FBR Extend the Last Date to file Income Tax Returns? The majority of taxpayers have filed their income tax returns for the tax year 2022. However, Still, tax returns of a…
What RTO Lahore achieved in Tax Returns and Revenue. According to a media report, FBR Regional Tax Office (RTO) Lahore has recently acquired about 477,000 annual Income Tax Returns. Revenue generation is…
FBR Fixes Foreign Currency Limits for International Passengers. The Federal Board of Revenue (FBR) has decided to fix a maximum limit of $5,000 (per visit) and $30,000 (annually) for outgoing international passengers…
FBR Once again Extended the Last Date to File Income Tax Returns 2022. On Monday, the government extended the last date for filing annual income tax returns for the tax year 2022…
FBR is likely to Extend Last Date for Filing Annual Tax Returns. The Federal Board of Revenue (FBR) to facilitate the business community will likely extend the last date of filing annual…
What is the Difference Between Tax and Zakat? The primary objective of Both the Zakat and tax is to collect it from higher income groups of the society and distribute or expense…
PHMA Demands Release of Sales Tax Refunds. Pakistan Hosiery Manufacturers & Exporters Association (PHMA) on Saturday demanded from the FBR to release exporters’ sales tax refunds. A letter was sent by the…
Good News Taxpayers can now adjust Previous Years' Tax Refunds against the Current Year Liability. The great news is here for taxpayers who have previous years' income tax refunds and they were…
FBR Imposes New Currency Declaration Requirements for Incoming and Outbound Passengers. The Federal Board of Revenue (FBR) has recently imposed a new restriction on the incoming international passengers to declare foreign currency…
FBR directed the Integration of Big Retailers with the POS System. The Federal Board of Revenue (FBR) on Tuesday directed the chief commissioners of the Regional Tax Offices (RTOs) to take steps…
The Federal Board of Revenue (FBR) has recently issued a list of 854 active manufacturers under various export facilitation schemes to extend duties and taxes exemption to only registered manufacturers-cum-exporters. In this…
Tax Exemption Granted to Donations for Prime Minister Flood Relief Fund:. Flood conditions has badly affected many parts of Pakistan, especially rural areas of the country. In this regard, the federal government…
Government Lifts Ban on Import of Luxury Items:. Here is a good news for importers in Pakistan that Government on Friday lifted ban on all imports of luxury and non-essential items. This…