Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
FBR emphasizes the importance of digitalization and seeks private sector collaboration
Islamabad, June 21, 2023 – The Federal Board of Revenue (FBR) announced on Wednesday that it has issued approximately Rs540 billion worth of invoices through the Point of Sale (POS) system in the span of one year.
(more…)
Islamabad, June 21, 2023: The Federal Board of Revenue (FBR) has imposed a major penalty on an Inland Revenue Officer (IRO) for inefficiency and misconduct.
(more…)
Islamabad, June 21, 2023: The Federal Board of Revenue (FBR) has released an operation plan for Pakistan Customs during the upcoming Eid ul Azha holidays.
(more…)
ISLAMABAD: The Federal Board of Revenue (FBR) has taken a significant step towards facilitating taxpayers by launching the draft income tax return forms for the tax year 2023.
(more…)
Islamabad, June 19, 2023 – Recent data released on Monday highlights a significant increase in the number of active taxpayers in Pakistan, reaching 3.94 million.
(more…)Islamabad, June 19, 2023 – The Federal Board of Revenue (FBR) has announced that the cost of exemptions and concessions in Pakistan expanded to 3.36 percent of the GDP during the fiscal year 2021-2022.
(more…)
The State Bank of Pakistan (SBP) has issued a directive to commercial banks, instructing them to extend their operating hours on Sunday, June 24, 2023. This move comes in response to a request from the Federal Board of Revenue (FBR) and is aimed at facilitating the payment of duties and taxes by taxpayers.
(more…)
Karachi, June 18, 2023 – The tax concession provided to retailers and jewelers through the Finance Bill, 2023 has come under scrutiny, with critics arguing that it is aimed at appeasing certain political groups in light of the upcoming general elections.
(more…)
Karachi, June 17 – The Pakistan Single Window (PSW) has successfully integrated the Marine Fisheries Department (MFD) and Mercantile Marine Department (MMD) into its digital network in collaboration with the Ministry of Maritime Affairs.
(more…)Tax experts have raised questions regarding the proposed enhancement of the foreign currency threshold for the money whitening scheme outlined in the Finance Bill of 2023.
(more…)