The Federal Board of Revenue (FBR) has clarified the rates and application of default surcharge for taxpayers who fail to meet their tax payment obligations. This surcharge is governed under Section 34 of the Sales Tax Act, 1990, and applies to both intentional and unintentional delays or errors in tax payments.
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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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FBR Agrees to Tax Relief on Property Transactions
Islamabad, January 11, 2025 – The Federal Board of Revenue (FBR) has agreed to consider to grant significant tax relief on property transactions, aiming to stimulate the construction and real estate sectors.
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TPL Admits Failure in Providing Satellite Services: FBR
Karachi, January 11, 2025 – The Federal Board of Revenue (FBR) has disclosed that TPL, the company licensed for tracking and monitoring transit cargo, has acknowledged the failure of its satellite services.
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FBR Enhances Tax System with Telecom Data Integration
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has successfully acquired detailed customer data for both pre-paid and post-paid telecom subscribers from all major telecom companies for the fiscal year 2023-24. This significant move is part of FBR’s ongoing effort to integrate third-party databases to enhance data accuracy and improve tax compliance across various sectors.
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Evade Tax, Face 10 Years: FBR Sends Stern Message
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has announced stringent measures against sales tax fraud, including a jail term of up to 10 years for offenders. These penalties are prescribed under the Sales Tax Act, 1990, and aim to curb fraudulent practices that undermine the country’s revenue collection efforts.
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PM Shehbaz Orders Swift Resolution of FBR Legal Cases
Islamabad, January 10, 2025 – Prime Minister Shehbaz Sharif, in a meeting held on Friday, emphasized the need for urgent measures to expedite the resolution of legal cases related to the Federal Board of Revenue (FBR) and its revenue collection efforts. He directed relevant authorities to recruit highly skilled professionals for the appellate tribunals, aiming to clear the backlog of pending cases swiftly.
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FBR Unearths Rs106B Money Laundering in Solar Panel Imports
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has uncovered a massive money laundering scheme amounting to Rs 106 billion, linked to fraudulent practices in solar panel imports. This revelation came after an intensive investigation led by the Post Clearance Audit (PCA), South, a key arm of the FBR.
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Hyderabad Customs Announces Auction of Non-Duty Paid Vehicles
Hyderabad, January 9, 2025 – The Model Customs Collectorate (MCC) Hyderabad has officially announced the auction of several Non-Duty Paid (NDP) vehicles, set to take place on January 14, 2025. This auction presents an opportunity for potential buyers to acquire various vehicles that are no longer in regular customs clearance, providing a wide range of models for public bidding.
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FBR Ends Substandard Cargo Tracking, Initiates New Process
Karachi, January 9, 2025 – The Federal Board of Revenue (FBR) has exposed significant failures in a company’s ability to monitor and track transit cargo destined for Afghanistan, leading to the termination of its license. In a detailed statement, the FBR addressed concerns raised by recent media reports, clarifying the rationale behind its actions and highlighting measures taken to ensure effective cargo monitoring during the interim period.
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RTO-I Karachi Cracks Down on Six More Wedding Halls
Karachi, January 9, 2025 – The Regional Tax Office (RTO-I) Karachi has extended its crackdown on tax defaulters by taking action against six additional wedding halls. This move comes as part of the ongoing efforts to enforce compliance with tax laws and broaden the tax net.
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