FBR chairman visits Karachi to boost revenue collection

ISLAMABAD: The Chairman of Federal Board of Revenue (FBR) Muhammad Javed Ghani to hold meetings with senior officials of Inland Revenue and Pakistan Customs on Monday January 18, 2021 to discuss measures... Read more »

Adjustment of expenses allowed against property income

ISLAMABAD: The Federal Board of Revenue (FBR) has said that adjustment of expenses on property income has been allowed if a taxpayer opted to pay income tax under the head of individual... Read more »

Transfer of foreign assets required to be declared in annual return

ISLAMABAD: A person makes transaction or transfer of foreign assets during a tax year is required to declare the same in annual return. Officials in the Federal Board of Revenue (FBR) said... Read more »

Committee may recommend reduction in withholding tax provisions

ISLAMABAD: A committee constituted to simplify taxation procedures may recommend a reduction in the number of withholding tax provisions and measures for enhancing the revenue collection. Sources in the Federal Board of... Read more »

Criteria for selection, conduct of income tax audit

Islamabad: The Federal Board of Revenue (FBR) has adopted a criteria for selection and conduct of income tax audit under Section 214C of the Income Tax Ordinance, 2001. The criteria have been... Read more »

FBR promotes Customs officers to BS-18

Islamabad: Federal Board of Revenue (FBR) on Friday notified promotion of officers of Pakistan Customs Service (PCS) from BS-17 to BS-18. The following BS-17 officers of Pakistan Customs Service are promoted to... Read more »

FBR invites customs duty proposals for budget 2021/2022

Karachi: Federal Board of Revenue (FBR) on Friday invited customs duty proposals for federal budget 2021/2022. The FBR said that the proposals should cover three areas, i.e., changes in customs tariff rates,... Read more »

Budget 2021/2022 to focus on easing tax burden: Member IR

Karachi: The upcoming federal budget will ease the burden on the industrial sector to reduce the cost of doing business to facilitate industrial and exporters, Dr. Muhammad Ashfaq, Member Inland Revenue (Operations), Federal... Read more »

Sales tax registration may be suspended on non-filing of returns for six consecutive months

ISLAMABAD: Federal Board of Revenue (FBR) may suspend sales tax registration of a taxpayer who fails to file returns for six consecutive months, officials said on Thursday. The officials said that a... Read more »

Member IR (Operations) holds meetings with tax officials, industry to boost revenue collection

KARACHI: Dr. Muhammad Ashfaq, Member Inland Revenue (Operations) of the Federal Board of Revenue (FBR) has launched a round of meetings with tax officials and industrialists during his four–day visit to Karachi... Read more »