On Wednesday, the Federal Board of Revenue (FBR) transferred several high-ranking officials of the Pakistan Customs Service (PCS) to different positions as the country intensified its efforts to combat smuggling.
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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 misses April target by big margin despite high rates of sales tax, FED
ISLAMABAD: Despite the increase in rates of sales tax and federal excise duty through a recent mini-budget, the Federal Board of Revenue (FBR) missed its tax collection target for April 2023 by over Rs100 billion.
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FBR revokes notification on massive increase in FED on cigarettes
On May 2, 2023, the Federal Board of Revenue (FBR) in Pakistan revoked its earlier notification SRO 178(I)/2023, which had massively increased federal excise duty (FED) rates on cigarettes.
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FBR defines agricultural income for tax exemption
The Federal Board of Revenue (FBR) has provided an explanation of agricultural income to allow for exemptions under the Income Tax Ordinance, 2001.
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SRB imposes fee for obtaining document of taxpayers
Sindh Revenue Board (SRB) has imposed a fee for obtaining attested document related to taxpayers besides increasing the fee for attested page of any document.
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Over 30,000 return filers get active taxpayers status
On May 1, 2023, the Federal Board of Revenue (FBR) announced that more than 30,000 filers had been added to the Active Taxpayers List (ATL).
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FTO directs revamping tax deregistration of deceased individuals
The Federal Tax Ombudsman (FTO) has taken notice of repeated notices being issued to deceased individuals with zero assets and has instructed the Federal Board of Revenue (FBR) to revamp the deregistration system to prevent this from happening.
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FBR offices work on weekly holidays to avoid tax revenue shortfall
KARACHI: The offices of Federal Board of Revenue (FBR) are working on weekly holidays in order to avoid shortfall in tax revenue.
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Pakistan mulls relaxing disclosure limit of foreign exchange in local currency
Pakistan is likely to relax the limit to disclose foreign exchange in local currency under tax laws after experiencing a significant depreciation in the local currency over the past few years.
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FBR promotes 25 customs officers to BS-18
With immediate effect, the Federal Board of Revenue (FBR) Friday notified promotion of BS-17 officers of Pakistan Customs Service to BS-18 on a regular basis.
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