Karachi, January 20, 2025 – The Federal Board of Revenue (FBR) has revealed a staggering Rs 1.42 trillion in sales tax exemptions granted to petroleum products, despite a significant decline in consumption over the past year.
(more…)Author: Shahnawaz Akhter
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FBR Achieves Historic Milestone with 6 Million Active Taxpayers
Karachi, January 20, 2025 – The Federal Board of Revenue (FBR) has reached a significant achievement, with the number of active taxpayers in Pakistan surging to a record high of 6.07 million.
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FBR Prioritizes Tax Collection and Broadening for Budget 2025-26
Karachi, January 20, 2025 – The Federal Board of Revenue (FBR) is intensifying its efforts to boost tax collection and expand the tax base as part of the formulation of the federal budget for 2025-26.
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FBR to Incentivize Whistleblowers in Sales Tax Evasion Cases
Karachi, January 20, 2025 – In a move to combat sales tax evasion and promote transparency, the Federal Board of Revenue (FBR) has announced policy to reward whistleblowers who provide credible information leading to the detection of tax fraud, evasion, or corruption.
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OGDCL Reports Major Advancements in Oil and Gas Production
Karachi, January 20, 2025 – The Oil and Gas Development Company Limited (OGDCL) has announced significant advancements in oil and gas production from two of its key wells, signaling a positive development for Pakistan’s energy sector.
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FBR Disallows Sales Tax Refund Claims Filed After One Year
Karachi, January 19, 2025 – The Federal Board of Revenue (FBR) has announced that it will no longer entertain claims for sales tax refunds filed beyond a one-year period. This decision, based on Section 66 of the Sales Tax Act, 1990, emphasizes strict adherence to the stipulated time frame for refund claims.
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FBR Acquires 5-Year Data on Car Purchases by Non-Filers
Karachi, January 19, 2025 – The Federal Board of Revenue (FBR) has acquired extensive data on car purchases made over the past five years to initiate a crackdown on individuals with taxable income who have failed to meet their tax obligations.
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Transit Trade Monitoring Debacle: Call for Thorough Probe
The Federal Board of Revenue (FBR) has recently brought grave allegations against a company entrusted with the critical task of monitoring and tracking cargo in transit.
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FBR to Pay Interest at KIBOR for Delayed Sales Tax Refunds
Karachi, January 18, 2025 – The Federal Board of Revenue (FBR) has confirmed its obligation to pay interest on delayed sales tax refunds at the annual Karachi Interbank Offered Rate (KIBOR).
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FPCCI Expresses Concerns on Alarming Drop in Cotton Production
Karachi, January 18, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has raised serious concerns over the drastic decline in cotton production, warning of its potential impact on the economy, especially the country’s textile exports.
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