Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has announced new tax rates for late income tax return filers as part of the Finance Bill 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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Income Tax Rates for Salaried and Business Persons Enhanced
Islamabad, June 12, 2024 –Pakistan has increased tax rates for both salaried and business individuals in the newly presented budget for the fiscal year 2024-25.
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FBR Releases Salient Features of FED in Finance Bill 2024
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has unveiled the salient features of the Federal Excise Duty (FED) measures included in the Finance Bill for the fiscal year 2024-25.
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Finance Bill 2024 Introduces Massive Income Tax Measures
Islamabad, June 12, 2024 – The Federal Government of Pakistan has released the Finance Bill for the fiscal year 2024-25, unveiling extensive income tax measures aimed at generating substantial revenue to support the country’s economic needs.
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New Sales Tax Measures under Finance Bill 2024
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a series of new sales tax measures through the Finance Bill 2024.
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Tax to GDP Ratio Projected at 8.9% for FY24: Economic Survey
PkRevenue.com — The Economic Survey of Pakistan 2023-24 has projected a tax to GDP ratio of 8.9 percent for the upcoming fiscal year, reflecting a modest increase from the 8.5 percent recorded in FY 2023. This projection is based on the Federal Board of Revenue’s (FBR) collection performance during the outgoing fiscal year.
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Citizens Rush to File Tax Returns as ATL Grows to 4.54 Million
PkRevenue.com – The number of active taxpayers in Pakistan has surged to 4.54 million for the tax year 2023, driven by concerns over stringent measures by the Federal Board of Revenue (FBR). This significant increase is reflected in the FBR’s weekly Active Taxpayers List (ATL), which accounts for returns filed up to June 9, 2024.
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What Tax Measures Are on the Cards in Pakistan 2024-25 Budget?
PkRevenue.com – Pakistan is gearing up to announce its budget for the fiscal year 2024-25 next week, but the tax measures remain unresolved. These decisions are critical for generating additional tax revenue to support the country’s economic framework.
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FBR Proposes Reduction of Sales Tax Exemptions in Budget
PkRevenue.com – In a significant development ahead of the federal budget for 2024-25, Tax Managers from the Federal Board of Revenue (FBR) have put forward a recommendation to curtail sales tax exemptions.
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FTO Directs FBR to Streamline WHT Collection from Banks
PkRevenue.com – The Federal Tax Ombudsman (FTO) has issued a directive to the Federal Board of Revenue (FBR) to overhaul and streamline the withholding tax collection system from commercial banks. This order comes after numerous studies and internal investigations highlighted significant inefficiencies in the current regime.
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