Updates
FBR Will publish Active Taxpayers List Today for Tax Year 2020
Federal Board of Revenue will publish the List of Active Taxpayers for the tax year 2020 on March 1, 2021. This list will publish in accordance with the provisions of Rule 81B…
#eFBR Page 2
138 articles
Updates
Income Tax Returns Filing Reached at Top
The FBR updated the last weekly ATL for the tax year 2019 on February 22, 2021 and obtained a record number based on the returns filed by February 21, 2021. FBR is…
Updates
Exporters now need no sales tax zero rating: FBR
Addressing a meeting of Sialkot exporters organized by the Pakistan Readymade Garments Manufacturers and Exporters Association, he said that the FBR was paying a refund of Rs 200-250 billion to the exporters…
Updates
National Tax Council (NTC) lacks the constitutional Cover
According to provincial tax administration, the first target set for the National Tax Council (NTC) was an agreement on a common definition of "goods" and "services". He added that if the formation…
Updates
FBR will launch a track and trace system by July 2021
Addressing the Senate Standing Committee on Finance, Revenue and Excise on Monday. He told committee chairman Senator Farooq Hamid Naik that the scope of the track and trace system will to extend…
Budget
Additional Taxes of 700 billion expected In Upcoming Budget under IMF Deal
Sources in the finance ministry told the Express Tribune that the increase in revenue would include the burden of income tax on business people and the corporate sector. The salaried class, especially…
Updates
Taxpayers to update profile to avoid penalty, and exclusion from ATL
According to Federal Board of Revenue (FBR) last date for updating the profile was December 31, 2020. However, this date was then extended by the FBR up to March 31, 2021. Date…
Updates
FBR Encouraged Taxpayers’ to get their legal cases resolved through ADRC
Federal Board of Revenue is taking steps to expedite the disposal of pending cases in various tax appeal forums including Commissioners Inland Revenue Appeals, Appellate Tribunal Inland Revenue, High Courts and Supreme…
Updates
Clearance in Sky: Pakistan Customs introduced a pre-arrival clearance facility
Customs Department Initially receives details of the goods in the aircraft electronically through the Board when the flight departs from the international destination and cargo importers receive clearance for delivery until the…
Updates
Govt imposing additional taxes on cars from next week
Sources said that the Federal Board of Revenue (FBR) had proposed a one per cent tax exemption for locally manufactured electric cars and a rebate of three per cent additional sales tax…
Taxation
FBR Abolished Additional Customs Duty on Import of Electric vehicles
Federal Board of Revenue (FBR) has abolished additional customs duties on the import of electric vehicles by June 30, 2025. These are vehicles of two to three wheeler. Like electric auto rickshaws,…
Taxation
Tax on Agricultural Income in Pakistan
Tax on Agricultural Income in Punjab Agricultural income is an exempt income from tax under section 41 of the Income Tax Ordinance, 2001. Such exemption from tax under ITO 2001 ( section…
World Taxes
Inheritance and gift tax rates around the world
This is the list of countries by inheritance tax rates and tax rates on the amount of gift. Inheritance tax is also termed as estate tax in some countries. Inheritance tax is…
Updates
FBR opposed to restore the zero rating system
According to media reports, exporters have approached the Prime Minister and various parliamentary committees with a proposal to restore the sales tax zero rating system in the budget (2020-21). The industry's alternative…
Business
IT Exports Increased by 40%
This growth attributed to the increase in exports of telecommunications, computers and information services. IT ministry claimed that it has achieved the highest ever growth rate for IT exports. He also clarified…
Updates
Tax Profiles updation not required to salaried taxpayers: FBR
According to an explanation issued by the FBR to a Lahore-based chartered accountant firm, "salaried individuals does not require to update their tax profile. However, under Section 181 of the Income Tax…
Taxation
Resident and Non Resident status under tax laws of Pakistan
Non-resident Pakistani is exempt from payment of taxes, which a resident Pakistani is liable to pay. Prior to the Finance Act 2019, an individual was treated as a "resident individual" for a…
Taxation
Income tax returns filing reached at new peak
The number of returns for the tax year 2019 is based on the returns filed by January 24, 2021. The number of return filers for the tax year 2020 is 2.316 million,…
Updates
Taxpayer bound to make e-payment of duties and taxes over Rs 1 million: FBR
Mohsin Rafique informed the participants that as per the requirements of FATF and as a direction towards digitization and automation of the economy, the federal government has now bound to all importers…
Updates
FBR considering proposals to tax benefit to non-resident or overseas Pakistanis
According to media reports published, that if any such proposals are finalized, they could be incorporated through a presidential ordinance amending the Income Tax Ordinance, 2001 (Ordinance).The whole exercise is aimed at…