FBR collects Rs1,617 billion in five months; shortfall increases by Rs206 billion

ISLAMABAD: The shortfall in revenue collection by Federal Board of Revenue (FBR) has soared to Rs206 billion during first five months (July – November) 2019/2020 making it more difficult for revenue authorities... Read more »

Customs detects fake financial instruments by importers for provisional clearance

KARACHI: Customs authorities have foiled a bid to clear consignments by some fabric importers on basis of fake financial instruments as payment of duty and taxes. Read more »

Information of account holders to be furnished by banks under Section 165A

KARACHI: Federal Board of Revenue (FBR) and banks have agreed on sharing information of financial transactions made by account holders. Read more »

Weekly Review: Stock market to remain positive on improved macroeconomic position

KARACHI: The stock market to remain positive during next week owing to inflows in treasury bills and improved macroeconomic position of the country, analysts said. Read more »

Exporters claim Rs62 billion fresh refunds stuck up despite FBR’s 72-hour clearance assurance

KARACHI: The new 72-hour sales tax refund clearance strategy of Federal Board of Revenue (FBR) has failed as another Rs62 billion refunds were stuck up since launch of the new systems, exporters... Read more »

PTBA asks FBR to allow amnesty declaration filing on already paid tax

LAHORE: Pakistan Tax Bar Association (PTBA) has said that those persons who had made payment for availing tax amnesty scheme but failed to file their returns should be given an opportunity for... Read more »

PSX signs agreement with Shenzhen Stock Exchange for trading, surveillance system

KARACHI: Pakistan Stock Exchange (PSX) has signed an agreement with Shenzhen Stock Exchange (SZSE) for the acquisition of a Trading and Surveillance Systems, to bring PSX at par with other international stock... Read more »

Bashirullah Khan posted as Director General Intelligence, Investigation

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified posting of Dr. Bashirullah Khan as Director General, Directorate General of Intelligence and Investigation (Inland Revenue) with immediate effect. Read more »

Income tax return filing date extended to December 16

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing income tax returns and wealth statements for tax year 2019 up to December 16, 2019, according to a notification... Read more »

FBR, PBA agree on sharing account holders information; banks to withdraw court cases

KARACHI: Federal Board of Revenue (FBR) has made major breakthrough regarding obtaining information of bank account holders ahead of FATF review. Read more »

Stock market gains 581 points despite buying activities

KARACHI: The stock market gained 581 points on Friday despite buying activities in major scrips. Read more »

FBR auditor awarded dismissal from service for availing NAB plea bargain

ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty on a senior auditor (BS-18) for making money through corruption and avail plea bargain of National Accountability Bureau (NAB). Read more »