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 contentious issue.
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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 Mandates Digital Invoices for FMCGs from Feb 1
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) announced on Thursday the mandatory issuance of digital sales tax invoices for sellers dealing in fast-moving consumer goods (FMCGs).
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FBR Greenlights Conditional Sharing of Confidential Trade Data
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has granted Customs authorities the authority to share confidential trade data under specific conditions for the tax year 2024.
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FBR Releases List of Income Tax-Exempt Entities for 2024
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of entities entitled to income tax exemption for the tax year 2024.
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FBR Initiates Disconnection Drive Against Non-Filers
Karachi, January 11, 2024 – In a bold move to bolster tax compliance, the Federal Board of Revenue (FBR) has embarked on the disconnection of phone, gas, and electricity services for individuals who have failed to file their income tax returns.
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FTO Extends Tax Relief of Rs 17.74 Billion in 2023
Islamabad, January 10, 2024 – The Federal Tax Ombudsman (FTO) has delivered substantial tax relief amounting to Rs 17.74 billion in 2023, surpassing the previous year’s figure of Rs 7 billion.
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FBR May Cancel Customs Registration for Non-Compliance
Karachi, January 10, 2024 – The Federal Board of Revenue (FBR) in Pakistan has powers to cancel customs registration for non-compliance to ensure compliance with prevailing laws in the tax year 2024.
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Pakistan Grants Tax Exemption to Judges of Higher Courts
Karachi, January 10, 2024 – Pakistan has introduced income tax exemptions on various allowances granted to judges of higher courts during the tax year 2024.
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Pakistan Customs Updates Baggage Declaration Rules for 2024
Karachi, January 9, 2024 – In a bid to enhance customs procedures and curb illicit activities, Pakistan Customs has recently updated the rules governing baggage declaration for the tax year 2024.
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FBR Grants Tax Exemption to Employee Perquisites in 2024
Karachi, January 9, 2024 – The Federal Board of Revenue (FBR) has recently announced a tax exemption on various perquisites granted to employees by virtue of their employment.
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