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UPDATES
Computational Errors in FBR Iris Portal identified by KTBA

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 sent to the…

UPDATES
FBR categorically rejected news of extension in date of filing income tax returns

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 headquarters. Spokesman FBR…

UPDATES
NADRA empowered to use artificial intelligence to increase tax base

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 modern device or…

UPDATES
Separate FBR Iris portal for overseas Pakistanis for Income Tax Return filing

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 they are facing…

UPDATES
FBR says No extension in Returns filing date after 30th September 2021

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 culture is prime…

UPDATES
FBR to deny 60 % Input Tax to Non-Integrated Tier-1 Retailers

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 to integrate non-Integrated…

UPDATES
List of updated nonintegrated tier-1 retailers, penalty and deadline to integrate

List of updated nonintegrated tier-1 retailers, penalty and deadline to integrate

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 credit. The FBR issued Sales Tax General Order…

UPDATES
FBR denied disinformation about POS Integration drive on social media

FBR denied disinformation about POS Integration drive on social media

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 issued by Tier-1…

UPDATES
FBR withdraws all appeals in exemption on foreign remittances

FBR withdraws all appeals in exemption on foreign remittances

Federal Board of Revenue (FBR) has withdrawn all the appeals pertaining to income tax exemption on inward foreign remittances. In order to implement the decision the revenue body issued, Circular No. 05, Dated: 30th August 2021…

UPDATES
FBR proposes collaboration with Provinces for collection of Agricultural Income Tax

FBR proposes collaboration with Provinces for collection of Agricultural Income Tax

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 Agricultural Income through…

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