FBR updates, income tax, budgets and markets for Pakistan
359 articles
The Federal Board of Revenue (FBR) has decided to penalize the tax officials putting external pressures on the top FBR management for their postings, transfers, deputations, or other service matters. In this…
Applications / nominations are invited for the post of Chief Executive Officer (CEO) of Federal Board of Revenue Foundation (FBRF) by 30th November, 2021 before 5:00 pm. Criteria: The incumbent must possess.1.…
Chairman FBR has shown his inability to bring over 4 million willful law violators to the tax net due to the lack of capacity. Dr Mohammad Ashfaq, FBR Chairman, took charge over…
The Lahore High Court (LHC) issued contempt notices to the Federal Board of Revenue (FBR) over its failure to implement the court’s orders pertaining to the minimum tax computation formula adopted by…
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has assured land developers that the federal government will extend the exemption on wealth reconciliation statement for first-time home buyers beyond…
In the wake of increased prices of steel products in domestic and international markets, the Federal Board of Revenue (FBR) increased the minimum prices of steel products through amendments in SRO-985 issued…
The Federal Board of Revenue (FBR) has decided to select over 50,000 income tax cases of the tax year 2019 for audit, reflecting an extraordinary increase of 36,000 cases as compared to…
Approximate Customs Duty or Tax that you need to Pay for importing Apple iPhone 8 / 8 Plus. PKR 23200 (On Passport)PKR 28800 (On ID Card) PKR 23200 (On Passport)PKR 28800 (On…
The federal government has decided to harmonise all four tax laws by merging them into one law book, ‘single rules book’, to promote automation and digitisation in order to ensure taxpayers’ facilitation.…
The Federal Board of Revenue (FBR) has reduced the sales tax rate on Petrol from 6.84 percent to 1.43 percent from November 11, 2021. According to a notification issued by the FBR…
Taxpayers, including the corporate sector, may directly receive audit notices from third-party auditors including chartered accountant firms for complete audit of the tax affairs of taxpayers to be selected for audit. Federal…
Pakistan Customs (FBR) has developed an automated facility in WeBOC System to enable the small and medium export enterprises to acquire imported input goods from a Common Export House for subsequent exports…
A total of 1,572 big retailers have been integrated with the point of sales (POS) system of the Federal Board of Revenue (FBR). The Federal Board of Revenue (FBR) has issued a…
Adviser to the Prime Minister over Finance Shaukat Tarin on Monday emphasized at linking right to representation and vote to payment of taxes, saying that the Government has the right to collect…
The Federal Board of Revenue (FBR) has constituted a fact finding committee to probe the alleged valuation fraud worth billions that took place in the Customs department. According to Customs Today, the…
About 500,000 countrywide retailers with a tax potential of about Rs 1,500 billion are the new target of Federal Board of Revenue (FBR) to ensure growth in revenue collections. According to Business…
Sindh Revenue Board (SRB) has categorically conveyed to the Federal Board of Revenue (FBR) that it would continue to collect sales tax on Toll Manufacturing, despite National Tax Council’s (NTC) decision allowing…
Federal Board of Revenue (FBR) is examining a proposal to further extend time period beyond November 1, 2021 for the corporate sector to shift over to the digital mode of payments. FBR…
The Federal Board of Revenue (FBR) collected Rs1.84 trillion in just four months, an increase of 37% or close to Rs500 billion over last year. It exceeded the July-October target by Rs228…
In its recently held hybrid Plenary meeting, the Financial Action Task Force (FATF) has decided to keep Pakistan on the grey list. Pakistan will remain on the grey list till it addresses…