Islamabad, October 14, 2024 – In an aggressive push against tax evasion, the Federal Board of Revenue (FBR) has arrested several Chief Financial Officers (CFOs) linked to large-scale sales tax fraud.
(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.
-
No More Extensions: FBR Confirms Final Deadline for Return Filing
The Federal Board of Revenue (FBR) has confirmed that October 14, 2024, will be the final deadline for filing income tax returns for the 2024 tax year. In its latest statement on Monday, the FBR clarified that there will be no further extensions granted beyond this date, urging taxpayers to complete their submissions promptly.
(more…) -
FBR Explains How to Obtain Extension for Tax Return Filing
Karachi, October 13, 2024 – The Federal Board of Revenue (FBR) has announced a clear process for taxpayers who are unable to meet the income tax filing deadline, offering a pathway to secure an extension.
(more…) -
FBR May Extend Return Filing Deadline Amid Islamabad Holidays
Karachi, October 13, 2024 – The Federal Board of Revenue (FBR) is likely to further extend the deadline for filing income tax returns for the tax year 2024 due to the public holidays declared in Islamabad.
(more…) -
Desperate FBR Targets CFOs to Curb Fake Invoices
Karachi, October 13, 2024 – The Federal Board of Revenue (FBR) has shifted its focus toward holding Chief Financial Officers (CFOs) accountable for ensuring the authenticity of sales tax returns.
(more…) -
FBR Chairman Plans Busy Karachi Visit Amid Islamabad Holidays
Karachi, October 11, 2024 – Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has laid out a demanding agenda for his upcoming visit to Karachi. During the public holidays announced in Islamabad for the Shanghai Cooperation Organization (SCO) Summit, Langrial will capitalize on this period by engaging in pivotal meetings and performance evaluations in the economic hub of Pakistan.
(more…) -
FBR Reaffirms Plan to Freeze Bank Accounts of Tax Defaulters
Islamabad, October 2024 – Rashid Mehmood Langrial, Chairman of the Federal Board of Revenue (FBR), has reiterated the government’s resolve to freeze the bank accounts of individuals who fail to file their income tax returns.
(more…) -
FBR Set to Issue Updated Property Valuation Tables
Islamabad, October 11, 2024 – The Federal Board of Revenue (FBR) is poised to release revised valuation tables for immovable properties across 42 major cities in Pakistan, a move expected to reshape the property market landscape and increase tax revenues from real estate transactions.
(more…) -
FBR Halts Recruitment Process for BS-1 to BS-4 Posts
Islamabad, October 10, 2024 – The Federal Board of Revenue (FBR) has issued a directive on Thursday halting the recruitment process for positions under Basic Scale (BS) grades 1 to 4 in both the Pakistan Customs and Inland Revenue Service (IRS). This suspension of recruitment applies with immediate effect, as outlined in a circular issued to the heads of Customs and IRS field formations across the country.
(more…) -
Pakistan Launches Grand Operation Against Sales Tax Fraud
Islamabad, October 10, 2024 – In a bold move to address rampant tax evasion and boost revenue collection, Pakistan has launched a large-scale operation targeting sales tax fraud across various sectors of the economy. Finance Minister Mohammad Aurangzeb and Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial made the announcement in a press conference, revealing that the country faces a staggering tax gap of Rs 3.4 trillion due to widespread fraud.
(more…)