Islamabad, July 1, 2024 – The Federal Board of Revenue (FBR) announced on Monday a significant increase in the number of active taxpayers, which has risen to 4.84 million based on returns filed for the tax year 2023 by June 30, 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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IRSOA Congratulates FBR for Impressive FY24 Tax Collection
KARACHI: The Inland Revenue Service Officers Association (IRSOA) has lauded the Federal Board of Revenue (FBR) for achieving remarkable tax collection results in the fiscal year 2023-24.
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FBR Surpasses Tax Collection Target by Rs 54 Billion for FY24
Islamabad, June 30, 2024 – The Federal Board of Revenue (FBR) announced on Sunday that it has surpassed its tax collection target for the fiscal year 2023-24 by Rs 54 billion, achieving a total collection of Rs 9.306 trillion.
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Finance Act, 2024 – Tax on Builders and Developers Explained
Karachi, June 30, 2024 – The Federal Board of Revenue (FBR) has introduced a new tax regime for builders and developers through the Finance Act, 2024, aiming to streamline taxation in the real estate sector.
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Pakistan Introduces New Rates of Additional Customs Duty
Karachi, June 30, 2024 – Pakistan has introduced new rates of additional customs duty on hundreds of imported goods for the fiscal year 2024-25.
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FBR Imposes Regulatory Duty on 657 Items from July 1
Karachi, June 30, 2024 – The Federal Board of Revenue (FBR) has issued a new list imposing regulatory duties on 657 imported items, effective from July 1, 2024. This action, detailed in SRO 928(I)/2024, supersedes the previous SRO 966(I)/2022 issued on June 30, 2022.
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FBR to Permit Non-Filers for Hajj and Umrah
Karachi, June 30, 2024 – In a significant policy shift, the Federal Board of Revenue (FBR) will now permit non-filers of income tax returns to travel abroad for performing Hajj and Umrah.
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FED Rates on Property Transfer Applicable from July 1, 2024
Karachi, June 29, 2024 – The Finance Act, 2024 has set new rates for Federal Excise Duty (FED) on property transfers, effective from July 1, 2024. The Federal Board of Revenue (FBR) has detailed the application of these rates, which vary based on the taxpayer status of the buyer.
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RTO Hyderabad Clamps Down on Black And Brown Bakers
Hyderabad, June 27, 2024 – The Regional Tax Office (RTO) in Hyderabad has taken decisive action against a renowned bakery chain in the city, sealing two of its branches for non-compliance with integration requirements mandated by the Federal Board of Revenue (FBR).
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Pensioners Avail Rs 41.22 Billion as Tax Exemption Last Year: FBR
Karachi, June 26, 2024 – The Federal Board of Revenue (FBR) has announced that pensioners benefitted from Rs 41.22 billion in income tax exemptions during the last fiscal year.
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