PkRevenue.com – In an unexpected move just days before the federal budget presentation, the Federal Board of Revenue (FBR) has transferred key officials from the Large Taxpayers Office (LTO) in Lahore to the administrative pool.
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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 Suggests New CGT on Non-Residents’ Capital Assets
PkRevenue.com – In a move aimed at tightening tax regulations, the Federal Board of Revenue (FBR) has proposed the imposition of capital gains tax (CGT) on the disposal of capital assets by non-residents.
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FBR Proposes Major Penalty Hikes for Sales Tax Violations
PkRevenue.com – In a bold move aimed at bolstering tax compliance, the Federal Board of Revenue (FBR) has proposed an unprecedented escalation in penalties for violations of sales tax regulations.
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FBR Aims to Generate Rs 205 Billion Additional Trade Tax in FY25
PkRevenue.com – The Federal Board of Revenue (FBR) of Pakistan is gearing up to generate an additional Rs 205 billion through trade taxes in the fiscal year 2024-25. This target represents a 9 percent increase over the projected trade tax collection of Rs 1.09 trillion for the current fiscal year, 2023-24.
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Check Your Name in ATL Updated as of May 26, 2024
(PkRevenue.com) – The Federal Board of Revenue (FBR) has released the updated Active Taxpayers List (ATL) for the tax year 2023, which has been updated as of May 26, 2024. The FBR is encouraging all citizens to check their status on this list to avail themselves of the numerous benefits associated with being a compliant taxpayer.
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FBR Proposes Tax on Govt. Securities Sold Before Maturity
(PkRevenue.com) – In a bid to curb revenue leakage and enhance the documentation of financial transactions, the Federal Board of Revenue (FBR) has proposed imposing a withholding tax on government securities sold before their maturity. This proposal is part of the FBR’s budget recommendations for the fiscal year 2024-25.
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FBR May Notify New Rules for Clearing Income Tax Refunds
(PkRevenue.com) – The Federal Board of Revenue (FBR) is on the verge of notifying new rules to streamline the clearance of outstanding income tax refunds through electronic means.
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FBR Imposes Major Penalty on IRO for Causing Huge Loss
(PkRevenue.com) – The Federal Board of Revenue (FBR) has imposed a major penalty of compulsory retirement on Arif Javed, an Inland Revenue Officer (IRO) at the Regional Tax Office (RTO) in Multan, for deliberately causing a substantial loss to the national exchequer.
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FBR Generates Rs 87 Billion Income Tax from Bank Depositors
Karachi (PKRevenue.com) – In a significant fiscal achievement, the Federal Board of Revenue (FBR) has collected an impressive Rs 87 billion in income tax from bank depositors during the first ten months of the fiscal year 2023-24.
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FBR Proposes Suspending ST Registration for Flying Invoices
(PKRevenue.com) – The Federal Board of Revenue (FBR) has proposed a significant measure to combat tax evasion by suggesting the suspension of sales tax (ST) registration for individuals and entities issuing flying invoices.
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