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UPDATES
FBR Launched ‘Automated Currency Declaration System’

FBR Launched ‘Automated Currency Declaration System’

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 currency transactions /…

UPDATES
FBR increased regulatory duty on import of luxury vehicles from January 27, 2022

FBR increased regulatory duty on import of luxury vehicles from January 27, 2022

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 has increased regulatory…

UPDATES
FBR’s Revised Valuation Rates of Immovable Properties suspended again

FBR’s Revised Valuation Rates of Immovable Properties suspended again

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 new valuation…

UPDATES
Extension in Date for filing Monthly Single Sales Tax Return December 2021

Extension in Date for filing Monthly Single Sales Tax Return December 2021

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 extended for filing…

UPDATES
New Taxes on Cars

New Taxes on Cars

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 Duty (FED) and…

UPDATES
Car Prices after Mini Budget

Car Prices after Mini Budget

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 has introduced several…

UPDATES
FBR starts budget preparation exercise for 2022-2023

FBR starts budget preparation exercise for 2022-2023

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 proposals for 2022-23.…

UPDATES
Supreme Court suspends SHC’s order on FBR notices to foreign asset holders

Supreme Court suspends SHC’s order on FBR notices to foreign asset holders

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 the Pakistanis pertaining…

UPDATES
FBR launched National Single Sales Tax Return Today

FBR launched National Single Sales Tax Return Today

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 Return (NSTR), at…

UPDATES
FBR launching National Single Sales Tax Return Tomorrow

FBR launching National Single Sales Tax Return Tomorrow

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. This important project…