Karachi, September 24, 2024 – The Federal Board of Revenue (FBR) has introduced revised tax guidelines for Associations of Persons (AOPs) for the tax year 2024-25, aimed at clarifying the principles of taxation under Section 92 of the Income Tax Ordinance, 2001.
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Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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FBR Extends Collection Timings for Pakistan Customs to Boost Revenue
Karachi, September 24, 2024 – In a strategic move to address revenue shortfalls, the Federal Board of Revenue (FBR) has extended collection timings for Pakistan Customs, aiming to generate additional revenue through enhanced duty and tax collection.
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PTBA Raises Voice for Taxpayers in Return Filing Deadline Relief
Karachi, September 24, 2024 – The Pakistan Tax Bar Association (PTBA) has taken a stand for taxpayers by formally requesting Prime Minister Shehbaz Sharif to extend the deadline for filing tax returns. In a letter to the Prime Minister, the PTBA expressed concerns about the challenges faced by taxpayers in meeting the September 30 deadline, citing technical issues with the Federal Board of Revenue’s (FBR) online system and the increasing financial strain on tax filers.
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FBR Urges Citizens to File Income Tax Returns Before September 30 Deadline
Karachi, September 23, 2024 – The Federal Board of Revenue (FBR) has called on citizens to submit their income tax returns for the tax year 2024 before the approaching deadline of September 30, 2024. In a statement released on Monday, the FBR emphasized that the deadline would not be extended, urging individuals to fulfill their legal obligations promptly.
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FBR Explains Tax Liability for Deceased Individuals
Karachi, September 23, 2024 – The Federal Board of Revenue (FBR) has provided a comprehensive explanation of the tax liabilities of deceased individuals, as outlined under Section 87 of the Income Tax Ordinance, 2001. This clarification is intended to guide the legal heirs and representatives of deceased individuals regarding their tax obligations.
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Taxpayers in Pakistan Rush to Secure Active Status Amid FBR’s Stringent Measures
Karachi, September 23, 2024 – A growing sense of urgency has gripped taxpayers in Pakistan, as individuals and businesses rush to attain “active taxpayer” status to avoid severe repercussions from the Federal Board of Revenue (FBR).
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FBR to Leverage AI for Examining TY 2024 Income Tax Returns
Karachi, September 22, 2024 – The Federal Board of Revenue (FBR) has announced its decision to utilize Artificial Intelligence (AI) for an in-depth examination of income tax returns and wealth declarations submitted for the tax year 2024.
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SRB Conducts Surprise Visits to Karachi Restaurants and Cafes
Karachi, September 22, 2024 – The Sindh Revenue Board (SRB) has initiated unannounced inspections of restaurants and cafes across Karachi to scrutinize their compliance with tax regulations, particularly the deduction and collection of Sindh Sales Tax (SST) on services.
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FBR Defines Resident, Non-Resident Persons for Tax Treatment
Karachi, September 22, 2024 – The Federal Board of Revenue (FBR) has issued clear guidelines categorizing resident and non-resident persons for tax purposes under the Income Tax Ordinance, 2001 for the tax year 2024-25.
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IRSOA Rejects FBR’s Transformation Plan, Raises Concerns
Islamabad, September 21, 2024 – The Inland Revenue Service Officers Association (IRSOA) has voiced strong opposition to the Federal Board of Revenue’s (FBR) new transformation plan, expressing grave concerns over its content and execution.
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