Islamabad, September 30, 2024 – In a significant stride towards simplifying Pakistan’s tax compliance regime, the Federal Board of Revenue (FBR) on Monday showcased the much-anticipated Single Sales Tax Return (SSTR) for three pivotal sectors of the economy.
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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 Issues Guidelines for Transactions Between Associates
Karachi, September 30, 2024 – The Federal Board of Revenue (FBR) has introduced new guidelines for transactions between associates under the Income Tax Ordinance, 2001. These rules aim to clarify and regulate how income, deductions, and tax credits should be managed between related parties.
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FBR Extends Return Filing Deadline for Tax Year 2024?
As the clock ticks down to the final hours of the income tax filing deadline, a critical question reverberates among Pakistan’s taxpayers: Has the Federal Board of Revenue (FBR) extended the deadline for filing income tax returns for the tax year 2024? With the deadline expiring today, millions of taxpayers remain in limbo, awaiting clarity from the country’s apex tax authority.
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Return Filing Deadline Extension: Pressure Mounting on FBR
Karachi, September 29, 2024 – The Federal Board of Revenue (FBR) finds itself under mounting pressure to extend the deadline for filing income tax returns for the tax year 2024. With the September 30 deadline looming, only a single day remains for taxpayers to submit their returns, and complaints of system breakdowns and technical delays are pouring in from across the country.
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FBR Issues Tax Guidelines for Permanent Establishment in Pakistan
Karachi, September 29, 2024 – The Federal Board of Revenue (FBR) has introduced new guidelines for the taxation of permanent establishments in Pakistan for the tax year 2024-25. These guidelines, extending the current regulations, govern the taxation of permanent establishments under Section 105 of the Income Tax Ordinance, 2001.
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FBR Urges Citizens to Use IRIS Portal for Tax Information
Islamabad, September 28, 2024 – The Federal Board of Revenue (FBR) has issued a formal advisory urging citizens to access tax-related information through the IRIS tax returns portal rather than relying on the malfunctioning Tax Maloomat system.
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FBR to Redefine Non-Filers Amid Sweeping Crackdown
Islamabad, September 28, 2024 – In a decisive move aimed at intensifying its crackdown on tax evasion, the Federal Board of Revenue (FBR) is poised to redefine the term “non-filers” under the Income Tax Ordinance, 2001.
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FBR Notifies Working Groups for Ambitious Transformation Plan
Islamabad, September 27, 2024 – The Federal Board of Revenue (FBR) has announced the formation of multiple working groups to develop and implement the FBR’s ambitious Transformation Plan.
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Taxpayers Await FBR Decision on Deadline Extension for Income Tax Returns
Karachi, September 27, 2024 – As the Federal Board of Revenue (FBR) approaches the September 30 deadline for the filing of income tax returns for the fiscal year 2024, taxpayers and tax professionals across the country are increasingly voicing concerns over the feasibility of meeting this target.
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FBR Elaborates CGT on Asset Disposal Outside Pakistan
Karachi, September 27, 2024 – The Federal Board of Revenue (FBR) has recently provided detailed guidelines regarding the imposition of Capital Gain Tax (CGT) on the disposal of assets located outside Pakistan during the tax year 2024-25.
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