CNIC condition on purchases above Rs50,000 to apply from Feb 01

ISLAMABAD: The mandatory requirement of Computerized National Identity Card (CNIC) on purchases of above Rs50,000 to apply from February 01, 2020. Read more »

FBR estimates 2.77 million returns for tax year 2019 by January 31

ISLAMABAD: Federal Board of Revenue (FBR) has estimated around 2.77 million income tax returns for tax year 2019 to be filed by January 31, 2020, sources said on Wednesday. Read more »

Voluntary tax system fails to generate revenue: FBR

ISLAMABAD: Syed Shabbar Zaidi, Chairman, Federal Board of Revenue (FBR) has said that voluntary compliance failed to generate revenue. Read more »

Regulatory duty on cotton import withdrawn

ISLAMABAD: The government has withdrawn 3 percent regulatory duty on import of cotton, a notification said on Tuesday. Read more »

FBR to issue ATL Tax Year 2019 on March 01

KARACHI: Federal Board of Revenue (FBR) will issued Active Taxpayers List (ATL) for tax year 2019 on March 01, 2020 to enable persons filed income tax returns for the tax year availing... Read more »

Sales tax rates issued for retailers integrated with FBR

ISLAMABAD: Federal Board of Revenue (FBR) has issued sales tax rate for different categories of retailers, who integrated their sales with online system of the FBR. Read more »

FBR clarifies delay in track, trace system implementation

ISLAMABAD: Federal Board of Revenue (FBR) has said that implementation of track and trace system has been stayed by a court. As soon the stay is vacated by the court the process... Read more »

Pension granted total income tax exemption

ISLAMABAD: Pensioners are allowed total exemption from tax on income received as pension. Read more »

Draft return, wealth statement forms for traders finalized

ISLAMABAD: Federal Board of Revenue (FBR) has finalized simple income tax return and wealth statement for small traders, sources said on Sunday. Read more »

FBR starts phasing out final tax regime

ISLAMABAD: Federal Board of Revenue (FBR) has started phasing out final tax regime for an equitable taxation system. Read more »

FBR schedules meetings to address small traders’ concerns

ISLAMABAD: Federal Board of Revenue (FBR) has decided to launch a series of meetings with representatives of traders associations to address concerns of small traders, sources said on Saturday. Read more »

Three new slabs added for taxation on income from property

ISLAMABAD: Three additional slabs have been added to income from property in order to generate more revenue under this head, sources in Federal Board of Revenue (FBR) said on Friday. Read more »