Karachi, September 4, 2024 – The Federal Board of Revenue (FBR) has provided a comprehensive explanation on the deduction of depreciation against tax liability for the tax year 2024-25, a critical aspect for businesses managing their assets and tax obligations.
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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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FBR, Traders Clash Over Tax Valuation Tables in Key Talks
Islamabad – The Federal Board of Revenue (FBR) has initiated crucial discussions with traders to address concerns surrounding the advance tax under the Tajir Dost Scheme.
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FBR Considers Mini Budget to Plug Revenue Gap
Islamabad, September 3, 2024 – The Federal Board of Revenue (FBR) is exploring the possibility of implementing a mini budget to address a significant revenue shortfall by the end of the current month.
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FBR Suspends Lady IR Officer for Issuing Illegal Refund
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) has suspended Ms. Shiraza Hameed, a Deputy Commissioner of the Inland Revenue Service (IRS), following allegations of issuing an illegal refund.
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FBR Appoints Junaid Jalil as Member Customs Operations
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) announced on Monday the appointment of Muhammad Junaid Jalil Khan as the new Member Customs Operations. Khan, an officer of BS-21 in the Pakistan Customs Service (PCS), was previously serving as the Chief Collector of Customs Enforcement (South) Karachi.
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FBR Lists Deductions for Computing Business Income Tax
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) has outlined specific deductions to aid taxpayers in accurately computing their business income tax.
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FBR Reports Massive Rs 98 Billion Tax Collection Gap in 2MFY25
Islamabad – The Federal Board of Revenue (FBR) of Pakistan has reported a significant shortfall of Rs 98 billion in tax collections for the first two months of the current fiscal year 2024-25. According to the latest data released by the FBR, the net tax collection stood at Rs 1,456 billion, falling short of the assigned target of Rs 1,554 billion for the period of July to August 2024.
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FBR Hopes to Hit 1QFY25 Target on Anticipated Import Turnaround
Karachi, September 1, 2024 – The Federal Board of Revenue (FBR) expressed optimism on Sunday about meeting its first-quarter revenue collection target for the fiscal year 2024-25, anticipating a rebound in imports driven by lower inflation and a reduced policy rate.
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Speculation Business: Key Rules Under Income Tax Ordinance
Karachi, September 1, 2024 – The Federal Board of Revenue (FBR) has provided clarity on the definition and treatment of speculation business under the Income Tax Ordinance, 2001, as applicable for the tax year 2024-25.
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FBR Plans Performance-Based Transfers of Senior Officers
Karachi: The Federal Board of Revenue (FBR) is preparing to implement performance-based transfers of senior officers, focusing on revenue collection efficiency.
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