Karachi, December 30, 2024 – The Federal Board of Revenue (FBR) has announced extended working hours for the collection of duties and taxes for the month of December 2024, in a bid to meet its revenue collection targets.
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FBR, Pakistan’s national tax collecting agency, plays a crucial role in the country’s economy. Pakistan Revenue is committed to providing readers with the latest updates and developments regarding FBR activities.
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Power of Tax Authorities to Modify Orders Under STA 1990
Karachi, December 29, 2024 – Section 11C of the Sales Tax Act (STA), 1990, empowers tax authorities to adjust or modify assessments and orders based on decisions made by higher judicial bodies.
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FBR Can Recover Short Paid Sales Tax Without Notice
Karachi, December 29, 2024 – The Federal Board of Revenue (FBR) has been granted the authority to recover short-paid sales tax amounts without issuing prior notice to the taxpayer. This authority is enshrined in Section 11A of the Sales Tax Act, 1990, which allows the FBR to act swiftly in cases of underpayment.
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RTO-1 Karachi Seals 19 Retail Outlets for POS Violations
Karachi, December 28, 2024 – The Regional Tax Office (RTO)-1 Karachi has undertaken a stringent crackdown on retail outlets violating Point of Sale (POS) regulations, sealing 19 establishments and recovering approximately Rs 25.5 million in penalties.
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FBR Suspends Four Customs Officials for Rule Violations
Islamabad, December 28, 2024 – The Federal Board of Revenue (FBR) has taken decisive action against four Pakistan Customs officials for violating Civil Servants rules, emphasizing its commitment to ensuring accountability and maintaining discipline within its ranks.
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Finance Ministry Exposes Alarming FBR Revenue Shortfall
Islamabad, December 27, 2024 – The Finance Ministry on Friday disclosed a significant shortfall in revenue collection by the Federal Board of Revenue (FBR) up to November 2024. This revelation came as part of the monthly economic outlook for December 2024.
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FBR, NADRA Identify 4.9M Affluent Individuals for Tax Expansion
Islamabad, December 27, 2024 – In a decisive effort to broaden the tax base, the Federal Board of Revenue (FBR), in collaboration with the National Database and Registration Authority (NADRA), has identified approximately 4.9 million wealthy individuals to be incorporated into the tax net. This joint initiative reflects the government’s firm commitment to addressing tax evasion and ensuring fiscal equity.
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RTO-1 Karachi Targets Tax-Evading Wedding Halls
Karachi, December 27, 2024 – In a move to curb tax evasion, the Regional Tax Office-1 (RTO-1) Karachi has announced stringent action against four prominent wedding halls in the city for failing to deposit taxes mandated under Section 236CB of the Income Tax Ordinance, 2001.
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FBR Dismisses Customs Inspector in Misconduct Case
Islamabad, December 26, 2024 – The Federal Board of Revenue (FBR) has dismissed Muhammad Ali Ijaz Malik, an Inspector of Pakistan Customs (BS-16), for misconduct following an extensive inquiry under the Civil Servants (Efficiency & Discipline) Rules, 2020. This decision comes as part of FBR’s commitment to uphold integrity and discipline within its ranks.
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FBR Uncovers 190,000 Tax Evaders, Rs 60 Bn at Risk: Aurangzeb
Islamabad, December 26, 2024 – Finance Minister Mohammad Aurangzeb revealed on Thursday that the Federal Board of Revenue (FBR) had identified approximately 190,000 individuals who have evaded taxes totaling around Rs 60 billion. This was part of the government’s ongoing efforts to improve tax compliance and expand the tax base through digitization and data analytics.
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