ISLAMABAD: Federal Board of Revenue (FBR) has recorded a 45 per cent growth in payment with income tax returns during fiscal year 2021-2022.
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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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Thousands of fake transactions discovered in taxpayer profile; FTO orders probe
ISLAMABAD: A taxpayer has discovered thousands of fake transactions in his profile. The taxpayer moved to the Federal Tax Ombudsman (FTO) for relief after disappointment from the tax authorities.
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Pakistan Customs resolves classification of aluminum waste, scrap of auto parts
KARACHI: Pakistan Customs has resolved the classification of aluminum waste and scrap of auto parts in a reference sent by Collectorate of Customs Appraisement, Port Muhammad Bin Qasim, Karachi.
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FBR plans achieving annual target through broadening tax base
KARACHI: Federal Board of Revenue (FBR) is working hard to broaden the tax base for achieving Rs7.5 trillion collection target for fiscal year 2022/2023.
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Pakistan’s revenue collection failure: Tax-to-GDP ratio remains single digit in 22 years
ISLAMABAD: Pakistan has failed to achieve a double digit tax-to-GDP ratio during past 22 years despite phenomenal growth in revenue collection over the years.
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Duty free imports on annual basis jump by 62.5pc: FBR
ISLAMABAD: Duty free imports have jumped by 62.5 per cent on an annual basis, much higher growth comparing dutiable imports, Federal Board of Revenue (FBR) said in a report released recently.
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FBR directives to shopping malls for collecting advance tax on electricity unlawful: KTBA
Karachi Tax Bar Association (KTBA) on Tuesday termed the action of the tax authorities asking shopping malls to collect advance tax on electricity as unlawful.
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Late filers may not get active taxpayers status even after making compliance
ISLAMABAD: Taxpayers filing annual tax returns after due date may not get status of active taxpayers until payment of surcharge to the Federal Board of Revenue (FBR).
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SRB achieves highest ever monthly tax collection in December 2022
KARACHI: The Sindh Revenue Board (SRB) has marked a historic milestone by achieving its highest-ever monthly tax collection in December 2022 since its inception in 2011.
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Taxpayers can file annual returns after due date to avoid harsh action
Taxpayers still can file annual tax return for tax year 2022 after expiry of last date in order to avoid harsh action, including imprisonment, for violating the tax laws, officials at Federal Board of Revenue (FBR) said.
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