Karachi, January 15, 2024 – The Federal Board of Revenue (FBR) has allowed a reduced rate of income tax on profit on debt for the year 2024. This decision comes as part of the updated Income Tax Ordinance, 2001, specifically tailored for the tax year 2024.
Karachi, January 14, 2024 – The Federal Board of Revenue (FBR) has outlined offenses for which goods shall be subject to confiscation during the tax year 2024, following the recent update to the Customs Act, 1969.
Karachi, January 14, 2024 – In a significant move, the Federal Board of Revenue (FBR) has announced a comprehensive tax exemption on foreign remittances received by non-residents.
Karachi, January 13, 2024 – The Federal Board of Revenue (FBR) has recently showcased a series of impactful measures implemented during the fiscal year 2022-23, aimed at promoting ease of doing business in Pakistan.
Karachi, January 13, 2024 – The Federal Board of Revenue (FBR) has introduced a penalty of Rs 50,000 for violations of the Customs Act, 1969, according to the updated provisions outlined for the Tax Year 2024.
Karachi, January 13, 2024 – The Federal Board of Revenue (FBR) has made a significant move by granting income tax exemption on the first sale of immovable property during the tax year 2024.
Karachi, January 13, 2024 – The Federal Tax Ombudsman (FTO) has taken a significant step towards ensuring tax compliance within the private education sector by directing the Federal Board of Revenue (FBR) to conduct a thorough tax audit of Watim Medical College.
Karachi, January 12, 2024 – The Federal Board of Revenue (FBR) has officially declared unauthorized access to the Customs Computerized Systems as a criminal offence.
Karachi, January 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of charitable organizations eligible for tax exemption on their incomes during the tax year 2024.
Reforming state institutions, particularly those responsible for revenue collection, is a delicate task that demands a nuanced understanding of their functions, challenges, and potential for improvement. In Pakistan, the ongoing changes within the Federal Board of Revenue (FBR) have triggered intense debate, with the proposed separation of the Customs and IRS emerging as a particularly […]