In a bid to provide relief to small-scale retailers and traders, the Federal Board of Revenue (FBR) has announced a significant tax adjustment on electricity bills.
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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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PTBA Urges Early Appointments of Tribunal Members
Karachi, April 4, 2024 – The Pakistan Tax Bar Association (PTBA) on Thursday called upon the government to expedite the process of appointing members to the Appellate Tribunal of Inland Revenue (ATIR), highlighting concerns over the impending vacancies and its potential impact on the dispensation of justice and economic activities.
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FBR Launches Pakistan Honour Card Scheme for Taxpayers
The Federal Board of Revenue (FBR) has introduced a groundbreaking initiative aimed at recognizing and rewarding the nation’s diligent taxpayers. In a recent development, the FBR issued a Statutory Regulatory Order (SRO) on Thursday, marked as SRO 469(I)/2024 dated April 3, 2024, to inaugurate the “Pakistan Honour Card Scheme.”
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FBR to Penalize Shopkeepers and Traders for Registration Failure
Karachi, April 3, 2024 – The Federal Board of Revenue (FBR) has instituted a penalty of Rs 10,000 for shopkeepers and traders who fail to comply with income tax registration requirements, as part of its concerted efforts to bring the large undocumented retail sector into the tax net.
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PSX Proposes Elimination of Minimum Tax for Listed Companies
Karachi, April 3, 2024 – The Pakistan Stock Exchange (PSX) has put forth a bold proposal to abolish the minimum tax regime for listed companies, citing their strong compliance with regulatory requirements.
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Pakistan Customs Exposes Massive Tax Evasion in Tea Imports
Karachi, April 1, 2024 – Pakistan Customs has uncovered a significant tax evasion scheme related to the import of black tea, leading to a crackdown on implicated importers.
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FBR Reports 3.83 Million Active Taxpayers for Tax Year 2023
Karachi, April 1, 2024 – The Federal Board of Revenue (FBR) disclosed on Monday that the count of Active Taxpayers for tax year 2023 has surged to 3.83 million as of the end of March 2024.
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FBR Starts Tax Registration of Shopkeepers and Traders
Karachi, April 1, 2024 – The Federal Board of Revenue (FBR) has initiated a comprehensive income tax registration process targeting shopkeepers and traders in six major cities across Pakistan.
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FBR Surpasses Targets, Collects Rs 6.71 Trillion in 9MFY24
Islamabad, March 31, 2024 – The Federal Board of Revenue (FBR) announced a significant achievement on Sunday, revealing that it had successfully collected Rs 6.71 trillion in tax revenue during the first nine months (July – March) of the fiscal year 2023-24.
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FBR Sets Deadline for Shopkeepers and Traders Tax Registration
In a move aimed at expanding the tax base and formalizing the informal economy, the Federal Board of Revenue (FBR) has announced a one-month deadline for the tax registration of shopkeepers and traders.
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