Islamabad, September 13, 2023 – The Federal Board of Revenue (FBR) has undertaken a significant reshuffle of senior Customs officers, with immediate effect, in a move aimed at optimizing the management of customs affairs in the country.
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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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FBR to Impose Penalties on Businesses for Not Displaying Tax Numbers or Licenses
Karachi, September 13, 2023 – The Federal Board of Revenue (FBR) has announced strict measures to ensure that businesses display their National Tax Numbers (NTNs) and tax licenses prominently. Those failing to comply will face financial penalties.
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RTO Karachi Launches FIR Against Mega Fake Sales Tax Invoice Scam Worth Rs 312 Billion
Karachi, September 12, 2023 – The Regional Tax Office (RTO) Karachi has taken a significant step in the fight against tax fraud by registering a First Information Report (FIR) to initiate formal legal proceedings against individuals involved in a massive fake sales tax invoice scam, which has led to a staggering loss of approximately Rs 312 billion to the national exchequer.
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Mounting Concerns as Electricity Bills Reveal a Myriad of Taxes and Duties
Karachi, September 12, 2023 – The rising concern over inflated electricity prices has brought to light a myriad of duty and taxes, in addition to government charges, that are embedded within electricity bills, impacting the daily lives of consumers.
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Tax Return Filing System Operates Seamlessly: FBR
The Federal Board of Revenue (FBR) has forcefully refuted claims circulating on certain social media platforms regarding alleged glitches in its online tax return filing system.
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IRIS 2.0 Disables Taxpayers from Responding to Audit and Assessment Notices
Karachi, September 11, 2023 – A critical flaw within the digital tax infrastructure of IRIS 2.0 has come to light, causing a predicament for taxpayers who find themselves unable to effectively engage with audit and assessment notices.
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Record-Breaking 4.6 Million on ATL as FBR Intensifies Hunt for Potential Taxpayers
Karachi, September 11, 2023 – Pakistan’s Active Taxpayers List (ATL) has soared to a remarkable pinnacle, reaching a record-breaking 4.6 million individuals and entities.
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Penalties for Failure in Return Filing by Due Date in Pakistan
Karachi, September 10, 2023 – The Federal Board of Revenue (FBR) in Pakistan has established stringent penalties for individuals, businesses, Associations of Persons (AOPs), and companies that fail to file their annual income tax returns by the due date.
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IR Intelligence Karachi Detains Four in Rs 11.69 Billion Fake Invoices Scam
Karachi, Pakistan – The Directorate of Intelligence and Investigation (IR) in Karachi has made a significant breakthrough by apprehending four individuals involved in a complex inter-province fake sales tax invoice racket. This scam has reportedly caused a staggering loss of Rs. 11.692 billion to the national exchequer.
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Pakistan authorizes taxmen to enter and search premises for audit
Karachi, September 9, 2023 – Pakistan has granted authorization for tax authorities to enter and search premises for the purpose of conducting audits and assessing individuals liable for taxation.
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