Karachi, July 30, 2024 – The Federal Board of Revenue (FBR) has introduced significant changes to the tax exemption policies for Associations of Persons (AOPs) through amendments in the Finance Act, 2024.
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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 Clarifies 100% Tax Credit for Sindh Coal Mining
Karachi, July 30, 2024 – The Federal Board of Revenue (FBR) has issued a crucial clarification regarding tax credits for coal mining operations in Sindh. According to the latest Circular No. 1 of 2024-25, which outlines amendments made to the Income Tax Ordinance, 2001 through the Finance Act, 2024, a 100% tax credit is available for income exclusively derived from coal mining activities in Sindh.
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FBR Introduces Changes to Share Acquisition Tax Rules
Karachi, July 30, 2024 – The Federal Board of Revenue (FBR) has announced a significant update in the taxation process for acquiring shares, following the amendments introduced through the Finance Act, 2024.
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Finance Act 2024: FBR Issues Guidelines for Builders, Developers
Karachi, July 30, 2024 – The Federal Board of Revenue (FBR) has issued comprehensive tax guidelines for builders and developers in light of the amendments introduced through the Finance Act, 2024, to the Income Tax Ordinance, 2001.
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FBR Rolls Out 10% Surcharge Calculation for Salaried Person
Karachi, July 30, 2024 – Federal Board of Revenue (FBR) has issued formula for calculating surcharge on income above Rs 10 million through newly introduced Section 4AB of Income Tax Ordinance, 2001.
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FBR Sets July 31 as Deadline for Tax Payment by Retailers
Karachi, July 29, 2024 – The Federal Board of Revenue (FBR) has announced July 31, 2024, as the deadline for shopkeepers and retailers to make the first monthly payment of advance tax under the Tajir Dost Scheme.
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Business Income Tax Rates for 2024 Return Filing
Islamabad, July 28, 2024 – Business individuals are required to file their annual returns for the tax year 2024 based on the tax rates updated until June 30, 2024, as released by the Federal Board of Revenue (FBR).
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FBR Notifies Tax Rates on Electricity Consumption for 2024-25
Karachi, July 27, 2024 – The Federal Board of Revenue (FBR) has announced the new income tax rates on electricity consumption for the fiscal year 2024-25. The updated rates are part of the amendments made to the Income Tax Ordinance, 2001 through the Finance Act, 2024.
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Salary Income Slabs for Tax Year 2024 Return Filing
Karachi, July 27, 2024 – As the deadline for filing income tax returns for the tax year 2024 approaches, salaried individuals are grappling with understanding which salary slabs to apply.
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FBR Simplifies Active Taxpayer Status Verification
Karachi, July 27, 2024 – The Federal Board of Revenue (FBR) has implemented new, streamlined methods for taxpayers to verify their active status, which is essential for availing tax benefits. Individuals and businesses can now easily confirm their eligibility through several accessible channels.
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