Islamabad, August 1, 2023 – The Federal Board of Revenue (FBR) in Pakistan has officially announced the last date for filing income tax returns for the tax year 2023.
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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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From Non-Filers to Active Taxpayers: Pakistan’s ATL Hits 4.26 Million High
Pakistan witnessed significant increase in Active Taxpayers with over 40,000 income tax returns filed in a single week, to high high of 4.26 million.
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Super Tax Implemented on Stock Investors by NCCPL
Karachi, July 31, 2023 – The National Clearing Company of Pakistan (NCCPL) has issued a notification regarding the collection of super tax from investors in the stock market.
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FBR Issues Updated Tax Law for Treatment of Black Money in Pakistan
Islamabad, July 31, 2023 – The Federal Board of Revenue (FBR) has recently released an updated tax law aimed at addressing the issue of black money and unexplained funds in Pakistan.
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FBR Implements New Tax Rates on Sale and Purchase of Immovable Property
Karachi, July 29, 2023 – The Federal Board of Revenue (FBR) has recently put into effect new tax rates on the sales and purchase of immovable properties across the country.
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Pakistan Announces 400% Increase in Tax on Payment through Debit/Credit Card
Karachi, July 29, 2023 – In a bid to curb the outflow of dollars and bolster its foreign exchange reserves, Pakistan has taken a significant step by announcing a whopping 400 percent increase in taxes on payments made through debit or credit cards.
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FBR’s Fiscal Fumble: Misses Rs 7.2 Trillion Tax Target for FY23
Karachi, July 28, 2023 – The Federal Board of Revenue (FBR) fell short of its fiscal year 2022-23 tax collection target, as revealed by the finance ministry in a monthly report for July 2023.
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FBR Strengthens Rules for Litigation and Prosecution in Pakistan Customs
Islamabad, July 27, 2023 – The Federal Board of Revenue (FBR) in Pakistan has taken significant steps to enhance the process of litigation and prosecution in Pakistan Customs with the issuance of SRO 960 (I)/2023, notifying a draft amendment to the Customs Rules, 2001.
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FBR Unveils IRIS 2.0: A Game-Changer for Efficient Tax Return Filing
Islamabad, July 27, 2023 – The Federal Board of Revenue (FBR) announced a major step forward in tax administration with the launch of IRIS 2.0, an upgraded version of the tax return filing system.
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FBR Elaborates New Withholding Tax Regime for Motor Vehicles
Karachi, July 27, 2023 – The Federal Board of Revenue (FBR) has elaborated new withholding tax regime for motor vehicles, aiming to streamline the taxation process and generate revenue for the government.
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