Karachi, January 12, 2024 – The Federal Board of Revenue (FBR) has officially declared unauthorized access to the Customs Computerized Systems as a criminal offence.
(more…)Author: Shahnawaz Akhter
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FBR Issues 2024 Tax Exemption List for Charitable Organizations
Karachi, January 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of charitable organizations eligible for tax exemption on their incomes during the tax year 2024.
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IMF Urges Pakistan to Boost Revenue from Non-Filers
Karachi, January 12, 2024 – The International Monetary Fund (IMF) has advised Pakistan to enhance revenue collection from non-filers to support social and development initiatives.
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Navigating Controversial Path: Perils of Separating Two Wings of FBR
Reforming state institutions, particularly those responsible for revenue collection, is a delicate task that demands a nuanced understanding of their functions, challenges, and potential for improvement. In Pakistan, the ongoing changes within the Federal Board of Revenue (FBR) have triggered intense debate, with the proposed separation of the Customs and IRS emerging as a particularly contentious issue.
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FBR Mandates Digital Invoices for FMCGs from Feb 1
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) announced on Thursday the mandatory issuance of digital sales tax invoices for sellers dealing in fast-moving consumer goods (FMCGs).
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FBR Greenlights Conditional Sharing of Confidential Trade Data
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has granted Customs authorities the authority to share confidential trade data under specific conditions for the tax year 2024.
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FBR Releases List of Income Tax-Exempt Entities for 2024
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of entities entitled to income tax exemption for the tax year 2024.
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Government Bank Borrowing Hits Rs 4.28 Trillion in 1HFY24
Karachi, January 11, 2024 – The federal government has borrowed an unprecedented Rs 4.28 trillion during the first half (July – December) of the current fiscal year 2023-24, marking a substantial surge compared to the corresponding period last year.
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FBR May Cancel Customs Registration for Non-Compliance
Karachi, January 10, 2024 – The Federal Board of Revenue (FBR) in Pakistan has powers to cancel customs registration for non-compliance to ensure compliance with prevailing laws in the tax year 2024.
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Pakistan Grants Tax Exemption to Judges of Higher Courts
Karachi, January 10, 2024 – Pakistan has introduced income tax exemptions on various allowances granted to judges of higher courts during the tax year 2024.
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