May 1

FBR chairman replaced despite massive collection growth

ISLAMABAD: The new coalition government led by Prime Minister Shahbaz Sharif soon after taking oath replaced the chairman of Federal Board of Revenue (FBR) despite massive growth in revenue collection during the current fiscal year. The government appointed Asim Ahmed as the new chairman of the FBR replacing Dr. Muhammad Ashfaq Ahmed. READ MORE: FBR […]

by Anjum Shah

Apr 29

Taxation, Top stories

Asim becomes 32nd FBR chairman

ISLAMABAD: Asim Ahmad has assumed as the 32nd chairman of the Federal Board of Revenue (FBR) from April 27, 2022. It is second term of Asim Ahmad to serve the apex tax agency of Pakistan. Prior the present posting, he served as FBR chairman during April 09, 2021 to August 24, 2021. He is the […]

by Anjum Shah

Tax slabs reduction may be considered: FBR chairman

Mar 22

Taxation, Top stories, Trade & Industry

Tax slabs reduction may be considered: FBR chairman

KARACHI: Dr. Muhammad Ashfaq Ahmed, chairman, Federal Board of Revenue (FBR) on Tuesday said reduction in income tax slabs may be considered. Addressing the business community at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that existing income tax slabs were implemented after due consideration. Earlier, the business community pointed out high number […]

by Faisal Shah

Withholding tax should be on income: FBR Chairman

Mar 21

Taxation, Top stories, Trade & Industry

Withholding tax should be on income: FBR Chairman

KARACHI: Dr. Muhammad Ashfaq Ahmed on Monday said the withholding tax (WHT) should be levied on income rather than on transactions. He was addressing at Karachi Chamber of Commerce and Industry (KCCI). Dr. Ashfaq said that he would recommended abolishing further tax. Besides, he said that rationalizing import tax would help in easing inflation. Pakistan […]

by Faisal Shah

UAE favorite hiding for Pakistan assets: Dr. Ashfaq

Mar 20

Taxation, Top stories

UAE favorite hiding for Pakistan assets: Dr. Ashfaq

Dr. Muhammad Ashfaq Ahmed, who is currently Chairman of Federal Board of Revenue (FBR), in his one of research papers pointed out that the United Arab Emirates (UAE) is favorite destination for parking offshore undisclosed funds by Pakistanis. “The UAE with a tally of Rs346.2 billion turned out to be the favorite most destination with […]

by Anjum Shah

FBR eyes Rs6 trillion collection in current fiscal year

Jan 26

Taxation, Top stories

FBR eyes Rs6 trillion collection in current fiscal year

ISLAMABAD: Dr. Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR) on Wednesday hoped that the revenue collection for the current fiscal year will increase to Rs6 trillion – surpassing the target of Rs5.83 trillion. “Our revenue target is Rs 5.830 trillion which is expected to increase till Rs6 trillion by June 2022. We have collected […]

by Anjum Shah

FBR announces cash reward to IREN officials for raids

Dec 10

Taxation

FBR announces cash reward to IREN officials for raids

KARACHI: Dr. Muhammad Ashfaq Ahmed, Chairman of the Federal Board of Revenue (FBR), has announced cash reward for officials of Inland Revenue Enforcement Network (IREN) for conducting successful raids against illegal sugar bags. A statement issued on Saturday said that the Chairman had appreciated the performance of IREN squads and announced a cash reward for […]

by Hamza Shah

FBR chairman urges taxpayers to file annual return timely

Sep 11

Taxation

FBR chairman urges taxpayers to file annual return timely

ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR), has advised taxpayers to file annual income tax returns timely. In the newsletter for July – August, the chairman said that timely uploading of Income Tax Form this year is appreciable activity and must continue in future as well. The taxpayers’ would optimistically, take […]

by Faisal Shah

Track, trace system to roll out from November 01: FBR

Sep 9

Taxation

Track, trace system to roll out from November 01: FBR

ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR) on Thursday said that track and trace system will be rolled out from November 01, 2021. According to a statement, FBR Chairman Dr. Muhammad Ashfaq Ahmed appreciated the performance of Inland Revenue Enforcement Network (IREN) staff. The chairman said that from November 1, 2021, […]

by Hamza Shah

FBR offers help to provinces in broadening agri tax base

Aug 30

Taxation

FBR offers help to provinces in broadening agri tax base

ISLAMABAD: The Federal Board of Revenue (FBR) has offered assistance to the provinces in broadening the tax base in agriculture sector. Under the Constitution of Pakistan, the provinces have mandate to collect tax on agriculture income. A statement issued by the FBR on Monday stated that in line with the government’s resolve towards broadening of […]

by Anjum Shah