Income Tax Ordinance 2001: requirement of wealth statement

KARACHI: A taxpayer is required to submit wealth statement along with annual income return. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 and explained the requirement of wealth statement... Read more »

FBR identifies undeclared foreign assets of 152,201 Pakistanis

ISLAMABAD: The tax authorities have identified 152,201 Pakistani nationals with undeclared assets abroad, Mohammad Jehanzeb Khan, Chairman, Federal Board of Revenue (FBR) said on Wednesday. Read more »

FBR explains inclusion into ATL for availing tax benefits

ISLAMABAD: Federal Board of Revenue (FBR) has explained the inclusion into Active Taxpayers List (ATL) for availing reduced rates of withholding tax and other benefits. Read more »

Income Tax Ordinance 2001: persons not required to file annual income return

KARACHI: There are certain classes of persons who are not required to file annual return of income to Federal Board of Revenue (FBR). Read more »

FBR withdraws additional customs duty on various imported raw materials

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn additional customs duty on various imported raw materials. Read more »

FBR notifies elimination, reduction of regulatory duties on several raw materials; issues SRO

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday notified elimination and reduction of regulatory duties on import of various raw materials used by manufacturing sector. Read more »

Income Tax Ordinance 2001: requirement of filing annual return

KARACHI: Federal Board of Revenue (FBR) has explained requirement of filing income tax returns by persons and corporate entities. Read more »

FBR withdraws penalty on seven customs officials

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn imposition of penalty on seven customs officials, according to notification issued on Monday. Read more »

Shah Muhammad posted as Member Admin

ISLAMABAD: Federal Board of Revenue (FBR) on posted Shah Muhammad, an officer of Inland Revenue Service (IRS) BS-21 as Member Administration, FBR, Headquarters. Read more »

FBR launches Urdu version of Customs Act

ISLAMABAD: Federal Board of Revenue (FBR) has launched the first Urdu Version of the Customs Act, 1969 for the convenience and benefit of the traders and the business community. Read more »

ATL-2017 shows 1.824 million active taxpayers

ISLAMABAD: Federal Board of Revenue (FBR) has received 1.824 million income tax returns for tax year 2017 by week ended February 10, 2019, according to weekly Active Taxpayers List (ATL) released on... Read more »

Income Tax Ordinance 2001: tax credit for investment in shares, insurance

KARACHI: The tax authorities have allowed tax credit for an individual against investment made in shares and insurance. Read more »