Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) announced on Friday the transfer and posting of 35 senior officers of the Pakistan Customs Service (PCS) in BS-19 and BS-20. The reshuffling aims to streamline operations and improve management within the Customs Service, ensuring strategic placement of experienced officers in key positions nationwide.
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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 Notifies Key Reshuffle of IRS Officers in BS-20 and BS-21
Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) issued a notification on Friday detailing a significant reshuffle among Inland Revenue Service (IRS) officers in grades BS-20 and BS-21.
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FBR Issues Significant Tax Demand Against Bank Makramah
Karachi, November 1, 2024 – The Federal Board of Revenue (FBR) has imposed a substantial tax demand against Bank Makramah, citing discrepancies in its financial reporting. According to the bank’s recently published financial statement, the FBR has disputed various tax treatments applied by Bank Makramah, leading to huge tax demand, which the bank has challenged through appeals.
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FBR Unveils ATL 2024: 5.34 Million Taxpayers Get Active Status
Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) released its Active Taxpayers List (ATL) on Friday, marking a pivotal shift in Pakistan’s tax compliance framework. This year’s ATL reflects filings based on income tax returns for the fiscal year 2024, with approximately 5.34 million taxpayers now classified as active following timely submissions by October 31, 2024.
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FBR Faces Over Rs 100 Billion Collection Shortfall in October 2024
Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) is grappling with a significant tax revenue deficit, revealing a shortfall that exceeded Rs 100 billion for October 2024 alone.
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New Valuations for Karachi Properties: FBR Issues SRO 1724
Karachi, October 31, 2024 – The Federal Board of Revenue (FBR) has announced new valuations for immovable properties in Karachi, ushering in significant changes to the property landscape with implications for withholding tax collection. Issued under SRO 1724(I)/2024 on October 29, 2024, the updated valuations will take effect on November 1, 2024, and apply to properties spanning Karachi’s residential, commercial, and industrial sectors.
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FBR Introduces Real-Time Tax System to Prevent Evasion
Islamabad, October 31, 2024 – The Federal Board of Revenue (FBR) has introduced an advanced Stock Register system via its new Information Center 2.0 platform, enhancing tax compliance and transparency for businesses across Pakistan.
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FBR Revises Property Valuations for Lahore with New SRO 1722
Islamabad, October 31, 2024 – The Federal Board of Revenue (FBR) has announced a significant revision in property valuations for Lahore, issuing SRO 1722(I)/2024 on October 29, 2024.
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PSO Discloses Billions in Tax Contingencies Amid Ongoing Appeals
Karachi, October 31, 2024 – Pakistan State Oil (PSO) has revealed substantial tax contingencies totaling billions of rupees as of September 30, 2024, according to its latest financial report.
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Non-Filers’ Nightmare: FBR Set to Release ATL 2024
The Federal Board of Revenue (FBR) is poised to unveil the Active Taxpayers List (ATL) for 2024, a move that signals a stern warning for non-filers.
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