Islamabad, August 25, 2024 – The salary class in Pakistan has made a substantial contribution to the country’s tax revenues, paying Rs 322 billion in income tax during the fiscal year 2023-24. This remarkable figure was disclosed by official sources in the Federal Board of Revenue (FBR), highlighting the significant role of salaried individuals in the national tax collection framework.
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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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Computation of Taxable Income in Pakistan for TY 2024-25
Karachi, August 25, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation regarding the computation of taxable income in Pakistan for the tax year 2024-25.
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FBR Explains Section 7F for Tax on Builders and Developers
Karachi, August 24, 2024 – Federal Board of Revenue (FBR) has explained Section 7F of Income Tax Ordinance, 2001 regarding tax on builders and developers.
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FBR Sets Income Tax Rates for Foreign Shipping Operators
Karachi, August 22, 2024 – The Federal Board of Revenue (FBR) has officially set the income tax rates applicable to shipping and air transport services operated by non-resident entities.
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FBR Clarifies Tax on Non-Resident Payments for TY 2024-25
Karachi, August 20, 2024 – The Federal Board of Revenue (FBR) has recently outlined the income tax rates applicable to payments made to non-residents during the tax year 2024-25.
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FBR Issues Fresh Instructions for Submitting PERs
Islamabad, August 20, 2024 – The Federal Board of Revenue (FBR) has issued fresh instructions for the submission of Performance Evaluation Reports (PERs) for all employees of the Inland Revenue Service and Pakistan Customs Service.
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FBR Updates Tax on Dividend Income for Tax Year 2024-25
KARACHI, August 20, 2024 – The Federal Board of Revenue (FBR) has announced updated tax rates on dividend income for the tax year 2024-25, as per the amendments made to the Income Tax Ordinance, 2001, updated on June 30, 2024.
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KTBA Highlights Ambiguities in Income Tax on Sales
Karachi, August 19, 2024 – The Karachi Tax Bar Association (KTBA) has raised concerns over ambiguities in the income tax collection mechanism for sales within the supply chain, as stipulated under the Finance Act, 2024.
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FBR Announces Updated Super Tax Structure for Tax Year 2024-25
Karachi, August 18, 2024 – The Federal Board of Revenue (FBR) has unveiled the latest position on the super tax applicable for the tax year 2024-25, in accordance with the Income Tax Ordinance, 2001, updated up to June 30, 2024.
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FBR Issues 2024-25 Taxable Income Calculation Guide
Karachi, August 17, 2024 – The Federal Board of Revenue (FBR) has officially released the guidelines for computing taxable income for the Tax Year (TY) 2024-25, outlining the specific methodologies and provisions to be followed by taxpayers.
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