Islamabad, April 23, 2024 – In a decisive move against bureaucratic inefficiency, Prime Minister Muhammad Shehbaz Sharif has ordered the suspension of the Commissioner of Inland Revenue of Federal Board of Revenue (FBR) Islamabad along with other senior tax officials for their alleged willful delay in handling tax cases.
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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 Considers Reviving POS Prize Scheme
Karachi, April 23, 2024 – The Federal Board of Revenue (FBR) is contemplating the reintroduction of the prize scheme for invoices issued via Point of Sale (POS) systems to promote better documentation of retail transactions.
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FBR Gets Proposal to Align Property Valuations with FMV
Karachi, April 23, 2024 – The Federal Board of Revenue (FBR) is reviewing a pivotal proposal from the Pakistan Business Council (PBC) aimed at enhancing property valuations to align closer with the fair market value (FMV).
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FBR Intensifies Crackdown on Illicit Tobacco Trade Nationwide
Islamabad, April 22, 2024 – In a significant move to combat the menace of illegal tobacco trade and to protect the nation’s revenue, the Federal Board of Revenue (FBR) launched a comprehensive crackdown across the country, raiding multiple outlets involved in selling counterfeit and non-stamped cigarettes.
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FBR Intensifies Crackdown on Counterfeit Goods
The Federal Board of Revenue (FBR) has intensified crackdown on counterfeit goods to ensure compliance with digital tax stamp regulations on key commodities, including cigarettes, sugar, and fertilizers.
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FTO and FBR Address Taxpayer Concerns
Federal Tax Ombudsman (FTO), Dr. Asif Mahmood Jah, convened a significant meeting with Member Inland Revenue (Operations) of the Federal Board of Revenue (FBR), Mir Badshah Khan Wazir, and his team to deliberate on issues concerning taxpayers.
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Tajir Dost Scheme – A Potential Missed Opportunity?
The recent unveiling of the Tajir Dost Scheme (TDS) by the Federal Board of Revenue (FBR) has sparked discussions and debates across Pakistan.
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FBR Removes Balance Sheet Requirement for Tax Return Filing
In a move aimed at reducing administrative burdens and facilitating compliant taxpayers, the Federal Board of Revenue (FBR) has eliminated the requirement of submitting balance sheets detailing assets and liabilities alongside monthly sales tax returns for those already enlisted with the sales tax department.
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All You Need to Know About Filing Tax Appeals with FBR
Any person dissatisfied with any order passed by a Commissioner of Inland Revenue has the right of appeal before the Federal Board of Revenue (FBR).
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KTBA Criticizes FBR’s Half-hearted Documentation Efforts
In a seminar held on April 18, 2024, the Karachi Tax Bar Association (KTBA) voiced its concerns over what it perceives as half-hearted efforts by the Federal Board of Revenue (FBR) towards the documentation of the economy.
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