FBR updates, income tax, budgets and markets for Pakistan
Federal Board of Revenue (FBR) suspends implementation of new property valuations rates till January 16 for the purpose of bringing an end to the ongoing controversy over the decision to increase valuation…
The FBR has decided to engage top property valuation experts of State Bank of Pakistan (SBP) for making consultations with stakeholders concerned and recommend changes in recently notified valuation rates of immovable…
The Senate Standing Committee on Finance, Revenue, and Economic Affairs has recommended the Federal Board of Revenue (FBR) to revoke the recently issued SRO with regard to the revised valuation of immovable…
The Federal Board of Revenue (FBR) has increased the valuation rates of immovable properties in the range of 100 to 600 per cent for 40 major cities depending upon location and commercial…
The top 10 items which contribute most of import taxes in Pakistan - eight of them related to energy and edible oil - contributed one-third of import taxes, or Rs409 billion, in…
The Federal Board of Revenue (FBR) has directed 482 identified Tier-I Retailers (big retailers) to integrate with the FBR’s point of sale (POS) system by December 10, 2021 to avoid disallowance of…
The Federal Tax Ombudsman (FTO) has ordered Pak Suzuki to refund the excess general sales tax (GST) amount that the automaker had collected from its customers beyond the rate predetermined by the…
FBR has succeeded in winning the first ever case of conviction for the offence of money laundering based on massive tax evasion. The Directorate General I & I-IR had received financial intelligence…
To fix fair market value of immovable properties, the Federal Board of Revenue (FBR), on Wednesday, revised Rates of residential and commercial Immovable Properties located in 40 major cities across the country.…
The Federal Board of Revenue (FBR) has exceeded the five-month tax collection target by Rs298 billion and received around Rs2.3 trillion, largely because of higher collection at import stage, which contributed more…
The government has decided to keep fuel prices unchanged effective from December 1, 2021. Oil prices in the global market had witnessed a sharp decline of around $10 per barrel last Friday,…
ISLAMABAD: A meeting on broadening of tax base was informed that the Federal Board of Revenue (FBR) has provided 14 million records of financial transactions of citizens to the National Database and…
ISLAMABAD: The government has barred all public and private development authorities from doing business with real estate agents who are not registered under the Anti-Money Laundering (AML) Act. The condition to suspend…
ISLAMABAD: The federal cabinet will approve the Tax Laws (Fourth Amendment) Bill to abolish Rs350 billion tax exemptions and restore the standard 17 per cent rate of general sales tax (GST) under…
All Tier 1 retailers are required to integrate with Board's Point of Sale online real time reporting system. In order to encourage integration with point of sale real time reporting system of…
The federal government has hinted at reducing petroleum prices in the country after oil prices in the international market witnessed decline on new coronavirus variant concerns. The oil prices plunged $10 a…
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said the government will not impose any new taxes in the upcoming 'mini budget', but it will withdraw some…
Income Tax Ordinance (ITO), 2001 has defined various approved funds for the chargeability of income tax. The Income Tax Ordinance, 2001 updated up to June 30, 2020 issued by the Federal Board…
Under Section 32A of Sales Tax Act, 1990 FBR is authorized to appoint special panels for conducting sales tax audit. The Federal Board of Revenue (FBR issued the Sales Tax Act, 1990…