In a surprising turn of events, the implementation of Section 7E of Income Tax Ordinance, 2001, which levies a tax on deemed rental income from land and property, has revealed a stark discrepancy in how tax obligations are being applied to filers and non-filers of tax returns.
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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 Advised to Hike Tax for Non-ATL Electricity Consumers
Karachi, April 25, 2024 – In a recent move to widen the tax base, the Federal Board of Revenue (FBR) has been advised to increase the tax rates for residential electricity consumers not listed on the Active Taxpayers List (ATL).
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Bill to Curtail Jurisdiction of Commissioner IR Appeals Presented
In a move to streamline the tax appeal process, the federal government has introduced a new bill in the National Assembly aimed at curtailing the jurisdiction of the Commissioner Inland Revenue (IR) Appeals of the Federal Board of Revenue (FBR).
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PM Shehbaz Sharif Orders FBR to Postpone SRO 350
Karachi, April 24, 2024 – In a significant move aimed at alleviating the concerns of the business sector, Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to defer the implementation of the controversial Statutory Regulatory Order (SRO) 350.
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KPK Introduces Fixed Tax for Lawyers and Customs Agents
In a pivotal move aimed at simplifying the tax system, the Khyber Pakhtunkhwa (KPK) government has announced the implementation of a fixed sales tax on services for lawyers and customs agents.
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PM’s Suspension of Top Tax Officials Stirs Controversy at FBR
In a bold move that has sparked intense debate and concern within the Federal Board of Revenue (FBR), Prime Minister Shehbaz Sharif has suspended several senior officials of the Inland Revenue Service, including the Chief Commissioner of the Large Taxpayers Office (LTO) in Islamabad.
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Finance Minister Commits to Resolve Tajir Dost Scheme Concerns
Islamabad, April 23, 2024 – In a key meeting held on Tuesday, Finance Minister Senator Muhammad Aurangzeb promised to address the concerns of the association of small traders regarding the recently introduced Tajir Dost Scheme.
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FBR and WHO Discuss Tobacco Tax Enforcement in Pakistan
Islamabad, April 23, 2024 – In a significant meeting held at the Federal Board of Revenue (FBR) headquarters on Tuesday, FBR officials and representatives from the World Health Organization (WHO) gathered to discuss the future of tobacco taxation and enforcement in Pakistan.
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FBR Issues Notices to 1,680 Retailers for POS Integration
Islamabad, April 23, 2024 – The Federal Board of Revenue (FBR) took a significant step towards enhancing tax compliance by issuing a directive for the mandatory integration of 1,680 Tier-1 retailers into its Point of Sale (POS) system.
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PM Shehbaz Sharif Suspends FBR Officials Over Tax Case Delays
Islamabad, April 23, 2024 – In a decisive move against bureaucratic inefficiency, Prime Minister Muhammad Shehbaz Sharif has ordered the suspension of the Commissioner of Inland Revenue of Federal Board of Revenue (FBR) Islamabad along with other senior tax officials for their alleged willful delay in handling tax cases.
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