Islamabad, October 3, 2024 – In a significant move to enhance Pakistan’s tax collection framework and facilitate economic growth, World Bank (WB) Country Director Najy Benhassine met with Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial on Thursday to discuss the FBR’s Transformation Plan. The meeting focused on strategies to maximize revenue growth and align efforts under the ongoing Pakistan Raises Revenue Project.
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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 Delegates Powers of Customs Officers to Frontier Corps Balochistan
Islamabad, October 3, 2024 – In a decisive move to combat smuggling across Pakistan’s western borders, the Federal Board of Revenue (FBR) on Thursday delegated key customs powers to the Frontier Corps (FC) Balochistan. This measure aims to curb the illicit trade and smuggling activities rampant in the province’s border regions.
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FBR Mandates Tax Returns for 2024-25: Who Must File?
Karachi, October 3, 2024 – The Federal Board of Revenue (FBR) has announced the categories of individuals and entities required to file income tax returns for the tax year 2024-25, in compliance with Section 114 of the Income Tax Ordinance, 2001.
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FBR Announces Re-designation of Members’ Posts Amidst Restructuring
Islamabad, October 2, 2024 – The Federal Board of Revenue (FBR) on Wednesday unveiled a series of re-designations and mergers within its organizational structure as part of an ongoing transformation and restructuring initiative. The changes, which are effective immediately, aim to streamline operations and enhance efficiency across various departments of the FBR.
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FBR Elaborates Application of Minimum Tax in Tax Year 2024-25
Karachi, October 2, 2024 – The Federal Board of Revenue (FBR) has issued a comprehensive clarification regarding the application of minimum tax under the Income Tax Ordinance, 2001, for the tax year 2024-25.
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FTO Establishes Facilitation Desk for Tax Return Filing
Islamabad, October 1, 2024 – In a significant move to alleviate challenges faced by taxpayers, the Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah on Tuesday launched a dedicated taxpayer facilitation desk at the FTO headquarters in collaboration with the Federal Board of Revenue (FBR).
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FBR Outlines Tax Treatment on Unexplained Income and Assets
Karachi, October 1, 2024 – The Federal Board of Revenue (FBR) has extended its tax treatment regulations concerning unexplained income and assets for the fiscal year 2024-25, under Section 111 of the Income Tax Ordinance, 2001.
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FBR Surpasses September Target but Faces Shortfall for First Quarter
Islamabad, October 1, 2024 – In a mixed financial performance for the start of the fiscal year, the Federal Board of Revenue (FBR) managed to surpass its revenue collection target for September 2024, but fell short of the ambitious tax collection target for the first quarter (July-September) of the fiscal year 2024-25. This outcome highlights the ongoing challenges in tax mobilization, despite various revenue-generating measures introduced earlier this year.
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FBR Grants 14-Day Extension for 2024 Income Tax Return Filing
Islamabad, October 1, 2024 – In a significant move, the Federal Board of Revenue (FBR) has granted a 14-day extension for the filing of income tax returns for the tax year 2024, providing relief to millions of taxpayers.
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FBR Declines to Extend Deadline for 2024 Tax Returns Filing
Islamabad, September 30, 2024 – In a move that has disappointed millions of taxpayers across the country, the Federal Board of Revenue (FBR) on Monday confirmed that it will not be extending the deadline for the submission of income tax returns for the tax year 2024.
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