Islamabad, January 22, 2025 – The Inland Revenue Service Officers Association (IRSOA) has announced its firm decision to boycott the recently introduced Rating and Reward System (RRS) by the Federal Board of Revenue (FBR). In a detailed statement, IRSOA strongly urged its members to stand united in rejecting what it deems a deeply flawed and counterproductive initiative.
(more…)Author: Shahnawaz Akhter
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LHC Rejects FBR’s Income Tax Reference
In a significant ruling, a division bench of the Lahore High Court (LHC) dismissed an income tax reference filed by a Commissioner Inland Revenue of the Federal Board of Revenue (FBR) under Section 133(1) of the Income Tax Ordinance, 2001.
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KCCI Urges Business Friendly Strategic Trade Policy Framework
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) and the Pakistan Hosiery Manufacturers Association (PHMA) have jointly called on the government to draft a pro-business Strategic Trade Policy Framework (STPF) and Textile & Apparel Policy for the next five years. They emphasized that these policies must include actionable and realistic measures, avoiding the shortcomings of the 2020-25 policies, which failed to deliver on many of their promises.
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FBR Directed to Address Excessive Tax on Electricity Bills
Islamabad, January 21, 2025 – The President of Pakistan has instructed the Federal Board of Revenue (FBR) to take immediate steps to address the issue of excessive taxation on electricity bills, following a significant decision that validates the recommendations of the Federal Tax Ombudsman (FTO).
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Complaints Against FBR Surge 51% in 2024: FTO
Islamabad, January 21, 2025 – The Federal Tax Ombudsman (FTO) reported a significant 51% increase in complaints lodged against the Federal Board of Revenue (FBR) during 2024 compared to the previous year.
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FBR Secures Rs 200 Billion Tax From Property Transactions
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has achieved a monumental milestone by collecting an impressive Rs 200 billion in taxes from immovable property transactions during the tax year 2024. This marks a substantial 30% increase compared to the Rs 153.75 billion collected in the previous tax year, according to official documentation.
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FBR Updates Rules for Sales Tax Registration
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has introduced updated rules for sales tax registration under the Sales Tax Rules, 2006, effective for the tax year 2025. These revisions aim to streamline the registration process and enhance compliance among taxpayers in Pakistan.
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Pakistan Grants Rs 91 Billion Income Tax Exemptions to Foreigners
Karachi, January 21, 2025 – Pakistan has provided a massive income tax exemption amounting to Rs 91 billion to foreign individuals and entities during a single tax year. This move highlights the country’s strategy to attract foreign investment and strengthen international partnerships.
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FBR Sets January 31 Deadline for Budget Proposals 2025-26
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has announced January 31, 2025, as the deadline for submitting proposals for the federal budget 2025-26.
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RTO-1 Karachi Seals Toy Shop for POS Non-Compliance
Karachi, January 21, 2025 – The Regional Tax Office-1 (RTO-1) Karachi has taken decisive action by sealing a toy shop located in one of the city’s major commercial areas for violating Point of Sale (POS) regulations.
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