Karachi, July 14, 2024 – The Federal Tax Ombudsman (FTO) has uncovered a significant problem with the withholding tax system for leased vehicles in Pakistan. This issue can lead to double taxation and denial of rightful tax credit for individuals and businesses leasing cars.
(more…)Tag: FBR
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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PM Shehbaz Directs FBR to Grid Up Loins for Revenue Generation
Islamabad, July 13, 2024 – Prime Minister Muhammad Shehbaz Sharif on Saturday directed the Federal Board of Revenue (FBR) authorities to tighten their belts and serve the nation by formulating a strategy and mechanism, coupled with the usage of the latest technology, to broaden the tax net without further burdening the honest taxpayers.
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FBR Directs BS-21 Officers to Submit Asset Declaration
Islamabad, July 12, 2024 – The Federal Board of Revenue (FBR) has directed all BS-21 officers to submit their asset declarations and performance evaluation reports (PERs). This directive applies to officers in the Inland Revenue Service (IRS) and Pakistan Customs Service (PCS).
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FBR to Unveil Fixed Tax Rates for Traders and Retailers
Islamabad: The Federal Board of Revenue (FBR) is set to announce a new, simplified tax system tailored for traders, shopkeepers, and retailers in 42 Pakistani cities. This initiative aims to replace the existing complex square-footage based tax system with a more straightforward flat tax rate determined by shop location and category.
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FBR Clarifies SRO 350 After Taxpayer Concerns
Karachi, July 10, 2024 – The Federal Board of Revenue (FBR) has responded to concerns raised by taxpayers, businesses, and tax professionals regarding complications arising from SRO 350(I)/2024, a regulation impacting sales tax return filing.
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Lahore Tax Bar Calls for FBR Action on SRO 350 Complications
Lahore, July 10, 2024 The Lahore Tax Bar Association (LTBA) has raised concerns about the challenges faced by businesses in filing sales tax returns following the implementation of a new regulation, SRO 350(I)/2024.
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IRSOA Slams FBR for Unjust Treatment of Top Officers
Karachi, July 10, 2024 – The Inland Revenue Service Officers Association (IRSOA) has vehemently condemned the recent actions of the Federal Board of Revenue (FBR) regarding the transfer of senior officers to an administrative pool.
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SRO 350 Sparks Controversy as PBC Raises Tax Return Concerns
Karachi, July 9, 2024 – The Pakistan Business Council (PBC) has raised significant concerns regarding recent amendments to the Sales Tax Rules, 2006, introduced through SRO 350(I)/2024 by the Federal Board of Revenue (FBR).
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FBR Gathers Dual Nationality Information of Customs Officials
Karachi, July 9, 2024 – The Federal Board of Revenue (FBR) has initiated the process of collecting information regarding dual nationality from customs officials across Pakistan. This move comes as part of a directive issued by the FBR under the Right of Information Act, 2017.
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Karachi Chamber Demands FBR Address Controversial SRO 350
Karachi, July 9, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the Federal Board of Revenue (FBR) to promptly resolve the ongoing issues related to SRO 350 (I)/2004, which have been a source of significant concern for the business community.
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