Islamabad – The real estate sector has urged the National Assembly Standing Committee on Finance and Revenue to amend “The Tax Laws (Amendment) Bill, 2024” to allow property transactions of up to Rs 50 million without requiring buyers to disclose their source of income.
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Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.
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IRIS restricts auto revision of sales tax return: KTBA
Karachi, January 31, 2025 – The Karachi Tax Bar Association (KTBA) has raised concerns regarding the IRIS portal’s restriction on the auto revision of sales tax returns, causing challenges for taxpayers who need to rectify their declarations.
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FBR launches sweeping crackdown on Rs 200 billion withholding tax discrepancies
Islamabad, January 31, 2025 – In a decisive move to strengthen tax compliance and curb financial irregularities, the Federal Board of Revenue (FBR) has initiated a comprehensive crackdown on excessive claim of withholding tax (WHT) deductions amounting to Rs 200 billion.
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FBR issues SRO to extend regulatory duty on steel products
Karachi, January 31, 2025 – The Federal Board of Revenue (FBR) has announced an extension of regulatory duty on steel product imports through a newly issued notification. The FBR released SRO 78(I)/2025 on January 30, 2025, amending SRO 928(I)/2025 dated June 30, 2024, to ensure continued protection for the local steel industry.
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IRSOA Strongly Rebuts Senator Faisal Vawda’s Allegations
Islamabad, January 30, 2025 – The Inland Revenue Service Officers Association (IRSOA) has categorically and unequivocally rejected the serious yet unsubstantiated allegations made by Senator Faisal Vawda during today’s proceedings of the Senate Standing Committee on Finance.
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New Conditions Make Sales Tax Return Filing Impossible: KCCI
Karachi, January 30, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has raised serious concerns over the newly introduced conditions by the Federal Board of Revenue (FBR), stating that these measures have made sales tax return filing nearly impossible for traders and small businesses.
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FBR Uncovers Rs 78 Bn Tax Evasion in Withholding of Salary Tax
Islamabad – The Federal Board of Revenue (FBR) has unearthed a colossal tax fraud amounting to Rs 78 billion in the collection and deposit of withholding tax on salary income.
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FBR Achieves 42.56% of Annual Tax Target in First Half of FY25
Islamabad, January 30, 2025 – The Federal Board of Revenue (FBR) has successfully collected 42.56% of its annual tax target during the first six months of the fiscal year 2024-25, marking a significant improvement in revenue generation.
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KTBA Calls for Fixing Anomaly in Sales Tax Return
The Karachi Tax Bar Association (KTBA) has raised an important issue with the Federal Board of Revenue (FBR) regarding a problem in the sales tax return process.
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FBR Updates Rules for Electronic Sales Tax Invoicing, Integration
Karachi, January 29, 2025 – In a move to streamline the tax system, the Federal Board of Revenue (FBR) has issued new procedures concerning the licensing, issuance of electronic sales tax invoices, and the integration of registered persons into the electronic invoicing system.
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