Ineligible taxpayers manage to avail Traders' Voluntary Tax Compliance Scheme
The Federal Board of Revenue (FBR) Intelligence and Investigation (I&I) Inland Revenue (IR) has…
Penalty for Non Filing of Annual Income Tax Returns 2021
A penalty of Rs1,000 each day of default has been implemented from Saturday after the expiry of…
Jazz Gets Best Taxpaying Company Award
Jazz Telecommunication Company has been awarded the ‘Best Taxpaying Company’ award under the…
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…
No Warning from FBR before freezing taxpayers bank accounts
Previously, FBR had to inform taxpayers 24 hours prior to freezing their bank account. Business…
FBR issues directive to freeze taxpayers' bank accounts without notice
The Federal Board of Revenue (FBR) has issued office directive to allow the field formations to…
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…
List of Tier-1 Retailers identified by FBR to integrate with POS system to claim input tax
The Federal Board of Revenue (FBR) has issued a list of 1,136 big retailers (Tier-1) who are…
New Penalty Provisions relating to non-integrated Tier-1 Retailers
The FBR has been empowered to require any person or classes of person to integrate their invoice…
Additional income tax slapped on electricity bills of non-filer professionals
ADVANCE TAX ON ELECTRICITY – SECTION 235(1A), DIVISION IV, PART IV, FIRST SCHEDULEAs per…
