Mar 7

FBR allows 20-year old house value to open plot

ISLAMABAD: The Federal Board of Revenue (FBR) has allowed the value of immovable property constructed more than 20 years equal to the value of open plot. According to property valuation for Karachi issued through SRO 345(I)/2022, the FBR issued a fresh property valuation for the residential and open plots located in various parts of the […]

by Mrs. Anjum Shahnawaz

FBR re-notifies valuation of immovable properties

Mar 5

National, Taxation, Top stories

FBR re-notifies valuation of immovable properties

ISLAMABAD: The Federal Board of Revenue (FBR) has re-notified fresh and revised valuation of immovable properties. The FBR on March 02, 2022 issued re-notified the valuation tables of immovable properties for major cities of the country. The FBR on December 01, 2021 issued fresh and updated valuation tables for around 40 major cities of the […]

by Mrs. Anjum Shahnawaz

FBR identifies 1,421 retailers for tax integration

Mar 3

Taxation

FBR identifies 1,421 retailers for tax integration

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued a list of 1,421 retailers for mandatory integration with online tax system. The FBR directed the retailers to integrate with the online tax system by March 10, 2022 in order to avoid harsh action. The revenue board issued Sales Tax General Order No. 10 of 2022 […]

by Mrs. Anjum Shahnawaz

Tax amnesty launched for setting up new industrial units

Mar 3

Taxation, Top stories, Trade & Industry

Tax amnesty launched for setting up new industrial units

ISLAMABAD: The federal government on Thursday launched a tax amnesty scheme for setting up new industrial units. The amnesty scheme has been introduced through a presidential ordinance. Under the amnesty scheme, the Federal Board of Revenue (FBR) will not ask the source of funds to be utilized for setting up the new industrial undertaking. However, […]

by Mrs. Anjum Shahnawaz

Mar 2

Taxation, Top stories

FBR issues new list of active taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) has issued new list of active taxpayers on the basis income tax returns filed for tax year 2021. According to the new active taxpayers list (ATL), about 2.88 million taxpayers have been placed in the list. About 0.7 million active taxpayers are more in the latest ATL as […]

by Mrs. Anjum Shahnawaz

POS invoice verification for prize scheme surges by 63%

Mar 2

Taxation

POS invoice verification for prize scheme surges by 63%

ISLAMABAD: The verification of invoices issued through point of sales (POS) by Tier-1 retailers surged by 63 per cent in February 2022, the Federal Board of Revenue (FBR) said on Wednesday. The ongoing outreach campaign and the prize scheme continue to gain momentum as numbers keep growing up. In February, FBR has witnessed that about […]

by Mrs. Anjum Shahnawaz

Sales tax exempted on all petroleum products

Mar 1

Energy, National, Taxation, Top stories

Sales tax exempted on all petroleum products

ISLAMABAD: The government on Tuesday granted sales tax holiday on supply of all petroleum products to bring down the impact of high prices. In order to implement sales tax exemption on all the petroleum products, the Federal Board of Revenue (FBR) issued SRO 321(I)/2022. As per the SRO the sales tax has brought to zero […]

by Mrs. Anjum Shahnawaz

LTO Karachi surpasses Rs1 trillion mark in 8MFY22

Mar 1

Taxation

LTO Karachi surpasses Rs1 trillion mark in 8MFY22

The Large Taxpayers Office (LTO) Karachi, the leading revenue collection arm of the Federal Board of Revenue (FBR), has achieved a monumental milestone by surpassing the ambitious tax collection target of Rs1 trillion in just eight months of the current fiscal year 2021/2022 (8MFY22).

by Faisal Shahnawaz

FBR posts 30% revenue collection growth in 8MFY22

Mar 1

Taxation

FBR posts 30% revenue collection growth in 8MFY22

ISLAMABAD: The Federal Board of Revenue (FBR) has registered 30.3 per cent growth in revenue collection for the period July – February 2021/2022 (8MFY22), a statement said on Tuesday. According to the provisional figures, FBR has collected net revenue of Rs 3,799 billion during the period under review, which has exceeded the target of Rs268 […]

by Mrs. Anjum Shahnawaz

FBR registration made mandatory for housing projects

Feb 28

Taxation, Top stories

FBR registration made mandatory for housing projects

ISLAMABAD: Registration with the Federal Board of Revenue (FBR) has been made mandatory in order to prevent money laundering in real estate industry, according to an official note issued on Monday. The FBR said that the Anti-Money Laundering Act, 2010 empowers it to license or register Designated Non-Financial Businesses and Professions (DNFBPs), impose conditions to […]

by Mrs. Anjum Shahnawaz