Islamabad, April 26, 2024 – In a pivotal move towards modernizing Pakistan’s taxation framework, Finance Minister Senator Muhammad Aurangzeb presided over a meeting of the Steering Committee on the Digitalization of the Federal Board of Revenue (FBR) on Friday.
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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 Removes Twelve Senior Officials from Key Positions
Islamabad, April 26, 2024 – In a significant shake-up within the Federal Board of Revenue (FBR), twelve of its most senior officers have been removed from critical posts across both the Pakistan Customs Service (PCS) and the Inland Revenue Service (IRS).
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OECD Team Evaluates AEOI Safeguards in Pakistan
Islamabad, April 25, 2024 – A high-level assessment team from the Organization for Economic Cooperation and Development (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes concluded a significant two-day onsite visit to Pakistan, rigorously reviewing the country’s implementation of Automatic Exchange of Information (AEOI) protocols, particularly focusing on confidentiality and data safeguards.
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FBR Clarifies Tax Amendments with SRO 350 to Address Queries
Karachi, April 25, 2024 – The Federal Board of Revenue (FBR) has recently elucidated several key amendments to the Sales Tax Rules, 2005, through SRO 350 (I)/2024, aiming to clear up the prevalent ambiguities surrounding these changes.
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Section 7E Creates Discrepancy Among Property Owners
In a surprising turn of events, the implementation of Section 7E of Income Tax Ordinance, 2001, which levies a tax on deemed rental income from land and property, has revealed a stark discrepancy in how tax obligations are being applied to filers and non-filers of tax returns.
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FBR Advised to Hike Tax for Non-ATL Electricity Consumers
Karachi, April 25, 2024 – In a recent move to widen the tax base, the Federal Board of Revenue (FBR) has been advised to increase the tax rates for residential electricity consumers not listed on the Active Taxpayers List (ATL).
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Bill to Curtail Jurisdiction of Commissioner IR Appeals Presented
In a move to streamline the tax appeal process, the federal government has introduced a new bill in the National Assembly aimed at curtailing the jurisdiction of the Commissioner Inland Revenue (IR) Appeals of the Federal Board of Revenue (FBR).
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PM’s Suspension of Top Tax Officials Stirs Controversy at FBR
In a bold move that has sparked intense debate and concern within the Federal Board of Revenue (FBR), Prime Minister Shehbaz Sharif has suspended several senior officials of the Inland Revenue Service, including the Chief Commissioner of the Large Taxpayers Office (LTO) in Islamabad.
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FBR and WHO Discuss Tobacco Tax Enforcement in Pakistan
Islamabad, April 23, 2024 – In a significant meeting held at the Federal Board of Revenue (FBR) headquarters on Tuesday, FBR officials and representatives from the World Health Organization (WHO) gathered to discuss the future of tobacco taxation and enforcement in Pakistan.
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FBR Issues Notices to 1,680 Retailers for POS Integration
Islamabad, April 23, 2024 – The Federal Board of Revenue (FBR) took a significant step towards enhancing tax compliance by issuing a directive for the mandatory integration of 1,680 Tier-1 retailers into its Point of Sale (POS) system.
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