FBR updates, income tax, budgets and markets for Pakistan
74 articles
FBR achieves record growth in tax collections. Federal Board of Revenue has reported a record revenue collection performance in the first six months of the current financial year 2022-23. According to FBR:…
What is the New Tax Deadline for 2022 Pakistan? Federal Board of Revenue (FBR) has issued a circular to relax the income tax return filing deadline up to December 15, 2022. However,…
What is the Latest News about the Extension on the Last Date for Filing Tax returns in 2022? Income Tax Return Filing Date Expires on September 30, 2022. We are a few…
FBR directed the Integration of Big Retailers with the POS System. The Federal Board of Revenue (FBR) on Tuesday directed the chief commissioners of the Regional Tax Offices (RTOs) to take steps…
No More Income Tax on Educational Fees Under Section 236I Previously FBR charged Advance Income Tax @5% on educational / Tuition fees of students. Chargeable to students whose parents or guardians were…
According to Section 235 of The Income Tax Ordinance, 2001: Lesco will issue advance tax certificate under section 235 of the Income Tax Ordinance, 2001. To obtain LESCO electricity bill tax deduction…
In order to facilitate the recovery of Government receipts, duties, and taxes at May 2022 end. State Bank of Pakistan decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and…
After conducting a preliminary internal investigation on the recent FBR cyber-attack, it has been discovered that the use of pirated software was one of the reasons why FBR’s data got hacked. Following…
Federal Board of Revenue has issued a clarification on a news story titled “FBR issues thousands of suspicious exemption certificates” appearing in a magazine with the name “Profit” in its edition of…
The Federal Board of Revenue (FBR) has advised Tier-1 Retailers to integrate their invoicing systems with the tax Realtime invoicing system of Federal Board of Revenue. FBR has given 15th August, 2021…
The government of Balochistan has installed online tax collection system. This online tax system will help to boost the the revenue receipts and will promote tax culture in the biggest province of…
The proposed Auto Industry Development and Export Policy (AIDEP) aims to increase the auto industry sector in Pakistan by increasing production of cars, motorcycles, tractors etc, Finance Minister Shaukat Tarin revealed. He…
The FBR issued the weekly ATL – 2019 updated on the basis of returns filed up to January 10, 2021. The ATL-2019 will remain applicable till February 28, 2021 as the FBR…
To this end, a joint meeting has been convened by the State Bank of Pakistan through video link at the request of the Karachi Customs Agents Association. (KCAA). Attended by more than…
A major step towards achieving maximum efficiency in the economy of payment and digitization of sending and receiving. Prime Minister Imran Khan on Monday launched the country's first instant digital payment system…
Tax Updates | Federal Board of Revenue | Tax News | Income Tax Ordinance 2001 | Sales Tax Act 1990 | FBR |
According to Federal Board of Revenue (FBR) the tax offices is going to launch operations against the persons who make taxable supplies but are not registered with sales tax. Cottage industry not…
The tax year for company tax return is starting from 1 July through 30 June. However, tax authorities have powers to allow a special year-end. ALSO READ: Annual Income tax return filing…
The Federal Board of Revenue has issued a statement saying that the government has added a new section 122D to the Income Tax Ordinance 2001 through the Finance Act 2020. Under which…
The latest milestone in the world's most popular cryptocurrency came on December 16, less than three weeks after it first crossed 20,000, and the bitcoin has risen 800 percent since mid-March. With…