FBR proposes CPEC chapter in Customs Rules

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued draft customs rules for the introduction of a separate chapter on procedures for China Pakistan Economic Corridor (CPEC) related activities. In this regard... Read more »

FBR explains electronic payment for duty, taxes

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday explained payment of duty and taxes through electronic mode to facilitate trade and industry. The FBR today (Wednesday) initiated e-payment for duty and... Read more »

Tax collection from motor vehicle registration surges by 62 percent in 1HFY21

KARACHI: Advance tax collection from registration of new motor vehicles has surged by 62 percent during first half (July – December) of the current fiscal year (1HFY21). The collection of advance tax... Read more »

Pakistan improves ranking by 31 positions in ease of trading across border index: FBR

ISLAMABAD: Pakistan has improved its ranking by 31 positions (from 142nd to 111th) on the rank of trading across border index, according to a statement issued by the Federal Board of Revenue... Read more »

Sales Tax Refund: FBR team to brief taxpayers on filing Annexure-H

KARACHI: A team of Federal Board of Revenue (FBR) will brief taxpayers about the procedure for filing Annexure-H which is mandatory for filing sales tax refunds. According to a circular, a technical... Read more »

FBR obtains transaction information of stock members, brokers from NCCPL

ISLAMABAD: Federal Board of Revenue (FBR) will get transaction information of member, broker and investor of the equity market directly from National Clearing Company of Pakistan Limited (NCCPL). FBR sources said that... Read more »

FBR chairman visits Karachi to boost revenue collection

ISLAMABAD: The Chairman of Federal Board of Revenue (FBR) Muhammad Javed Ghani to hold meetings with senior officials of Inland Revenue and Pakistan Customs on Monday January 18, 2021 to discuss measures... Read more »

Adjustment of expenses allowed against property income

ISLAMABAD: The Federal Board of Revenue (FBR) has said that adjustment of expenses on property income has been allowed if a taxpayer opted to pay income tax under the head of individual... Read more »

Transfer of foreign assets required to be declared in annual return

ISLAMABAD: A person makes transaction or transfer of foreign assets during a tax year is required to declare the same in annual return. Officials in the Federal Board of Revenue (FBR) said... Read more »

Committee may recommend reduction in withholding tax provisions

ISLAMABAD: A committee constituted to simplify taxation procedures may recommend a reduction in the number of withholding tax provisions and measures for enhancing the revenue collection. Sources in the Federal Board of... Read more »