FBR updates, income tax, budgets and markets for Pakistan
359 articles
The Federal Board of Revenue (FBR) has decided to revise the prescribed “Form” for the taxpayers for filing of references to the High Courts on question of law in the tax matters.…
Following a policy of zero tolerance against corruption, highhanded, and misconduct Federal Board of Revenue (HQs) Islamabad has suspended three officials posted in Collectorate of Customs Enforcement, Lahore. This evening, the top…
The telecommunication companies, courier companies, and big services providers would file a single sales tax return from January 2022 instead of multiple sales tax returns with the provincial revenue authorities of Punjab,…
The Federal Board of Revenue (FBR) registered 215 First Information Reports (FIRs) against 267 people under the Anti-Money Laundering (AML) Act in the last four years. Chairman FBR, Muhammad Ashfaq Ahmad, shared…
The Federal Board of Revenue (FBR) has decided to outline guide techniques for Inland Revenue Officers for effective monitoring of sales and clearances of goods at the big retail outlets and manufacturing…
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…
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…
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 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…
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…
The rates of income tax on motor vehicles for tax year 2022 to be applicable under Second Schedule of Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued the Income…
The Federal Board of Revenue (FBR) will introduce the concept of virtual assessment of imported goods to replace with the existing system of Appraisers Assessments at ports. The FBR Member Customs (Policy),…