Karachi, October 25, 2024 – The Federal Board of Revenue (FBR) has announced significant amendments to regulations governing the temporary import of vehicles by tourists, aimed at enhancing compliance and ensuring that imported vehicles are utilized solely for travel purposes.
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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 Revises Baggage Rules to Seize Commercial Quantity Goods
Karachi, October 25, 2024 – The Federal Board of Revenue (FBR) has proposed amendments to the Baggage Rules, 2006, introducing provisions for the confiscation of goods brought into Pakistan in commercial quantities. The draft amendments, published through SRO 1649(I)/2024, signal FBR’s intent to intensify regulatory scrutiny over items entering the country under personal baggage exemptions.
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FBR Imposes Major Penalty on Customs Officer in Corruption Case
Karachi, October 25, 2024 – The Federal Board of Revenue (FBR) has imposed a severe disciplinary penalty, removing customs officer Shahid Naseem Joiya from service due to corruption and serious misconduct.
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FBR Enforces Income Tax on Provincial Sales Tax Registrants
Karachi, October 25, 2024 – The Federal Board of Revenue (FBR) has implemented a significant measure to collect advance income tax from individuals and businesses registered for provincial sales tax.
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FBR Curtails Customs Intelligence Powers to Facilitate Taxpayers
Karachi, October 25, 2024 – In a significant move to streamline operations and ease taxpayer concerns, the Federal Board of Revenue (FBR) has reduced the powers of the Directorate General of Intelligence and Investigation (I&I) Customs.
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FBR Amends Transshipment Rules for Iranian Transport Operators
Islamabad, October 25, 2024 – The Federal Board of Revenue (FBR) has revised the transshipment rules for Iranian transport operators involved in the movement of goods across Pakistan’s borders. The new rules are part of the efforts to strengthen regulatory frameworks governing international trade and transportation, especially under the Bilateral Road Transportation of Goods agreement between Pakistan and Iran.
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FBR Announces Daily Updates to Active Taxpayers List
Islamabad, October 24, 2024 – In a significant policy shift, the Federal Board of Revenue (FBR) has announced that it will now update the Active Taxpayers List (ATL) on a daily basis, departing from its previous practice of weekly updates.
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PM Shehbaz Directs FBR to Create Taxpayer-Friendly Environment
Islamabad, October 24, 2024 – Prime Minister Shehbaz Sharif on Thursday instructed the Federal Board of Revenue (FBR) to foster a more taxpayer-friendly atmosphere in a bid to build trust and enhance tax compliance. The prime minister made these remarks while chairing a review meeting focused on FBR reforms, according to a press release from the PM Office.
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FBR Projects Rs 250 Billion from New Anti-Smuggling Measures
Islamabad, October 24, 2024 – The Federal Board of Revenue (FBR) has announced ambitious plans to generate up to Rs 250 billion through a series of robust anti-smuggling initiatives, signaling a major crackdown on illicit trade.
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Minister Rules Out ADR-Based Tax Exemption for Banks
Minister of State for Finance, Ali Pervez Malik, a day earlier, made it clear that there are no ongoing discussions or plans for tax exemptions based on the Advance-to-Deposit Ratio (ADR) for banks. Speaking at the Senate Standing Committee on Finance, Malik emphasized that no proposal concerning an ADR-based tax exemption is currently under consideration.
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