FBR updates, income tax, budgets and markets for Pakistan
515 articles
The FBR proposed amending the Customs Rules 2001 in a notification issued here on Friday. According to SRO.201 (I) / 2021, "tourist" means "a person not normally resident in Pakistan, who enters…
According to Pakistan Tax Bar Association, many tax bars and Tax Consultants across the Pakistan have brought in to the notice that there are huge number of taxpayers who have submitted their…
Federal Board of Revenue has issued a circular in the wake of ongoing measures against corruption and irregularities under which a taxpayer can lodge a complaint against any officer or official involved…
Active Taxpayer List (ATL) is available on FBR's official website. The number of income tax returns for the tax year 2020 reached 2.62 million on February 28, 2021, compared to 2.43 million…
According to SRO No., 234(i)/20201, the Federal Board of Revenue (FBR) has amended Sales Tax Rules 2006. According to amendment, FBR said that the provisions of rules 210-A to 210-I shall, mutatis…
The 2.2 million tax return filers were only one-third of those who have valid National Tax Numbers (NTNs). They were doing business in Pakistan but did not file tax returns. This means…
In this regard, the FBR has issued the Gwadar Tax Free Zones Rules 2021, which defines tax exemptions, incentives, and tax incentives available to investors under the CPEC project. The new chapter,…
An order in favor of Pakistani taxpayer's rights. Where it has been violated by most tax employees, including senior officials under the Federal Tax Ombudsmen (FTO) Ordinance, 2000, According to Business Recorder…
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…
Federal Board of Revenue will issue a list of active tax payers for the tax year 2020 on March 1, 2021 under Rule 81B of the Income Tax Rules 2002. At present…
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…
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…
He was a very senior member of Institute of Chartered Accountants of Pakistan (ICAP). Rana Muhammad Anwar FCA served in his profession of chartered accountancy for more than 60 years. He was…
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…
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…
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…
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…
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…
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…
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,…