Islamabad, October 18, 2023 – The Federal Board of Revenue (FBR) has taken a significant step to ease the process of claiming sales tax refunds for multiple tax periods.
In the complex landscape of taxation, comprehending the nuances of income from property is crucial for individuals, businesses, and investors. To provide clarity on this topic, we delve into the intricacies of income taxation under the Income Tax Ordinance, 2001, shedding light on how rental income is taxed in Pakistan. Taxable Rental Income Rental income […]
Islamabad, October 17, 2023 – Pakistan has reached a historic milestone with a total of 4.88 million active taxpayers now featured on the updated list of income tax return filers released by the Federal Board of Revenue (FBR).
Karachi, October 16, 2023 – The Federal Board of Revenue (FBR) has announced a new deadline for filing income tax returns for the tax year 2023.
Islamabad, October 13, 2023 – The Federal Tax Ombudsman (FTO) has issued a directive to the Federal Board of Revenue (FBR) aimed at rectifying valuation deficiencies and inconsistencies in the assessment of immovable properties, particularly in affluent areas.
Karachi, October 12, 2023 – The Sindh government has taken a significant step by designating the Alternate Delivery Channel (ADC) as the sole payment system for all tax payments within the province.
Karachi, October 11, 2023 – The Karachi Tax Bar Association (KTBA) has raised concerns over the recent changes to the conditions for raising credit notes for sales tax returns, labeling them as impractical due to various legal loopholes.
The Federal Board of Revenue (FBR) has announced a substantial administrative overhaul involving the transfers and postings of 33 senior officers from the Inland Revenue Service (IRS) in grades BS-19 to BS-21.
Islamabad, October 9, 2023: The Federal Board of Revenue (FBR) on Monday announced that Pakistan’s Active Taxpayers List (ATL) has reached a new historic high of 4.83 million return filers for tax year 2022.
Karachi, October 9, 2023 – The Federal Board of Revenue (FBR) has introduced updated super tax rates for high-earning individuals for the tax year 2024.