FBR updates, income tax, budgets and markets for Pakistan
359 articles
The FBR amended S.R.O. 57(I)/2016 (sales tax on petroleum products) through issuance of a notification S.R.O. 557 (I)/2021 issued on Monday. According to the notification issued, the standard rate of 17 percent…
Please go to https://iris.fbr.gov.pk/public/txplogin.xhtml and Click “Registration for Unregistered Person”. 1- Please use your Iris login and password to enter in Iris application. 2- After logging in, on left upper corner of…
Federal Board of Revenue (FBR) vide S.R.O. No. 533(I)/2021 dated: 5th May, 2021. In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), the Federal…
In order to facilitate exports and other trade activities, Federal Board of Revenue’s Customs Wing has issued instructions to all Customs field formations to work as normal working days on 8th, 10th…
The date of payment of Sales tax and FED monthly return, due on 15th May 2021, hereby extended up to 18th May 2021. Further, The date of submission of Sales Tax and…
In a press release, Federal Board of Revenue (FBR) denied any link / relation with these emails. Sent from a fake email address, alert@fbr.news. These fake emails informs to the targeted taxpayers…
Pakistan Customs Wing of Federal Board of Revenue introduced a new automated process in WeBOC system for scanning of containerized import consignments for their instant clearance at ports. This new system by…
The memorandum of understanding (MoU) was signed by the Chairman FBR on behalf of FBR. The heads of all provincial revenue authorities signed the MoU on behalf of their respective revenue authorities.…
The tax machinery this week mentioned that the “judicial allowance and special judicial allowance are exempt from tax. This exemption is available not only in cases of superior judiciary but also in…
Currently, there are more than 270 commercial and industrial units operating in KPZ. However, they have to travel 15 km to pay taxes and duties as the nearest tax collection booth is…
Federal Board of Revenue (FBR) issued a press release. Where FBR has issued a denial on a news item published in Daily Business Recorder. FBR explained that the meeting was conducted under…
1 Fruit juices and vegetable juices2 Ice Cream.3 Aerated waters or beverages.4 Syrups and squashes.5 Cigarettes.6 Toilet soap7 Detergents8 Shampoo9 Toothpaste10 Shaving cream11 Perfumery and cosmetics14 Tea15 Powder drinks16 Milky drinks17 Toilet…
Implementation of Trace and Track system introduced by FBR is no doubt very important step of government and FBR. From the start of its development it has become controversial. The contract awarded…
The PTBA in a letter to FBR Chairman Muhammad Javed Ghani informed that the last date for updating taxpayers’ profile under section 214 of Income Tax Ordinance, 2001. It made compulsory for…
During search operation, a truck load of record of various businesses, invoices and hundreds of stamps. They used this stuff in generation of fake invoices confiscated. So far, it appears that the…
According to latest Active Taxpayer List (ATL) issued by FBR for tax year 2020 updated up to March 14, 2021. The total number of active taxpayers have increased to 2.37 million. As…
The bill proposes to streamline the tax system for non-profit organisations, listing of firms in the stock market, tax exemptions for oil refineries, special economic zones (SEZs) set up under the China-Pakistan…
A notification issued by National Command and Operation Center (NCOC) Under Epidemic Diseases Control Act 1958, vide No .l (135)•HC(G)i2021 dated 11-03•2021. According to notification all types of sports, cultural and other…
Budget proposal available to expand the scope of tax incentives available for income from the export of software, IT services and IT-enabled services, a statement said. For this purpose, the 'Tax Exemption'…
Investigations into the scam needed issuance of show-cause notices to 70,000 individuals. The exercise is likely to fetch about Rs10 billion taxes and expand the tax net, added the sources. Such amount…