Karachi, January 27, 2025 – The Federal Board of Revenue (FBR) has announced updated withholding tax rates for property transactions applicable during the tax year 2025.
(more…)Category: Taxation
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.
-
Karachi Traders Laud Faceless Customs System: FBR Chief
Karachi, January 26, 2025 – Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, highlighted the overwhelming support from Karachi’s trading community for the newly introduced Faceless Customs Assessment (FCA) system.
(more…) -
FBR Defends Plan to Buy 1,010 Cars Amid Corruption Allegations
The Federal Board of Revenue (FBR) has reaffirmed its contentious decision to procure 1,010 Honda vehicles for its officers, sparking intense criticism from the Senate Standing Committee on Finance.
(more…) -
FBR Updates Rules for Sales Tax Suspension Process
Karachi, January 26, 2025 – The Federal Board of Revenue (FBR) has directed its field tax offices, including Large Taxpayers Offices (LTOs) and Regional Tax Offices (RTOs), to adopt a standardized approach for the suspension and blacklisting of sales tax registered persons. These directives aim to ensure uniformity in compliance with Rule 12 of the Sales Tax Rules, 2006, and Section 21(2) of the Sales Tax Act, 1969.
(more…) -
FBR Deactivates Affidavit Requirements for Sales Tax Returns
Karachi, January 25, 2025 – The Federal Board of Revenue (FBR) has officially deactivated the mandatory affidavit requirement for filing sales tax returns, a move aimed at simplifying compliance for businesses.
(more…) -
FBR Unveils Procedure for Updating Sales Tax Registration Details
Karachi, January 25, 2025 – The Federal Board of Revenue (FBR) has announced a streamlined procedure for modifying sales tax registration details under Rule 7 of the Sales Tax Rules, 2006. Businesses can now easily update their registration information to ensure compliance and avoid any potential legal complications.
(more…) -
IRS to Issue $1,400 Stimulus Checks in 2025 to Eligible Taxpayers
In a new initiative, the Internal Revenue Service (IRS) has announced that nearly one million taxpayers will receive stimulus payments of up to $1,400 each.
(more…) -
Massive Bank Withdrawals Amid Looming Tax Restrictions
In December 2024, Pakistan witnessed a staggering Rs 862 billion in bank withdrawals, highlighting a rising wave of uncertainty among account holders.
(more…) -
Aurangzeb Assures Transparency in FBR’s Purchase of 1,010 Cars
Islamabad, January 24, 2025 – Finance Minister Muhammad Aurangzeb on Friday reaffirmed the transparency and integrity of the Federal Board of Revenue’s (FBR) procurement of 1,010 vehicles.
(more…) -
New FBR Declaration Tightens Grip on Commercial Importers
Islamabad, January 24, 2025 – The Federal Board of Revenue (FBR) has intensified its oversight of commercial importers by introducing a new declaration requirement under the Sales Tax Laws, as part of its ongoing efforts to enhance tax compliance.
(more…)