Karachi, September 27, 2024 – In a significant move aimed at promoting tax compliance and transparency, the Federal Board of Revenue (FBR) has made sweeping changes to the Point of Sale (POS) Prize Scheme, as announced through SRO 1513(I)/2024 issued on September 26, 2024. The revised scheme primarily targets customers reporting unverified invoices issued by Tier-1 retailers.
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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 Forms Committee for Single Sales Tax Return for All Sectors
Islamabad, September 26, 2024 – In a significant move aimed at simplifying the tax filing process and improving ease of business in Pakistan, the Federal Board of Revenue (FBR) has formed a new committee to oversee the design, development, and implementation of a single sales tax return (SSTR) system for all sectors. This initiative is part of the FBR’s ongoing reforms to streamline tax procedures across multiple jurisdictions.
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FBR Dismisses IR Inspector Over Inefficiency and Misconduct
Islamabad, September 26, 2024 – The Federal Board of Revenue (FBR) has imposed a major penalty of dismissal from service on Muhammad Furquan Baig, Inspector-IR (BS-16), for inefficiency and misconduct. The disciplinary action was initiated after Baig’s extended and unexplained absence from duty since January 1, 2024.
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FBR to Launch Tax Campaign Before Penalty Enforcement
Islamabad, September 26, 2024 – The Federal Board of Revenue (FBR) announced on Thursday that it will initiate a nationwide awareness campaign to promote tax compliance before introducing strict penalties for tax evaders. The campaign is part of the government’s broader efforts to improve Pakistan’s tax compliance culture and ensure that all eligible taxpayers fulfill their legal obligations.
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Taxation of Geographical Sources of Income in Pakistan
Karachi, September 26, 2024 — The Federal Board of Revenue (FBR) has released comprehensive guidelines regarding the taxation of income based on its geographical source within Pakistan for the 2024-25 tax year.
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FBR Set to Implement Amended Rules for ATL Appearance
Karachi, September 26, 2024 – The Federal Board of Revenue (FBR) is preparing to implement amended rules governing the inclusion of individuals and entities in the Active Taxpayers List (ATL). These amendments, which are now finalized, are expected to be formally introduced soon.
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FBR Tightens Grip on Non-Filers with New Enforcement Actions
Islamabad, September 26, 2024 – The Federal Board of Revenue (FBR) is preparing to implement strict enforcement actions against non-filers of income tax returns, following the approval of the prime minister.
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FBR Sends SMS Alerts to Taxpayers, Enforcing Return Filing Obligations
Karachi, September 25, 2024 — The Federal Board of Revenue (FBR) has ramped up its efforts to ensure taxpayer compliance by sending out SMS reminders to registered mobile numbers, urging citizens to submit their annual income tax returns by the September 30, 2024, deadline.
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Tax Advisors Call for November 30 Extension for Return Filing
Islamabad, September 2024 — The Pakistan Tax Advisors Association (PTAA) has called upon the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns and wealth statements for the tax year 2024 from September 30 to November 30.
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FBR Issues Updated Tax Guidelines for Non-Filers and Late Filers
Karachi, September 25, 2024 – The Federal Board of Revenue (FBR) has issued updated guidelines for individuals and entities who have either failed to file their annual income tax returns or submitted them after the due date.
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