Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has announced new Federal Excise Duty (FED) rates for international air travel, as amended through the Finance Act 2024. The revised rates have been in effect since July 1, 2024.
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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 Tax Rates for Business Individuals and AOPs
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has announced the new tax rates for business individuals and Association of Persons (AOPs) as per the amendments made through the Finance Act, 2024. These updated rates are effective from July 1, 2024, and are applicable for the tax year 2025.
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FBR Notifies Salary Tax Rates Amended via Finance Act 2024
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has officially announced the amended salary tax rates as enacted through the Finance Act, 2024. These revisions are set to take effect from July 1, 2024, and will be applicable for the tax year 2025.
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FTO Directs FBR to Conduct Comprehensive WHT Audit of Banks
ISLAMABAD, July 16, 2024 – The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to conduct a detailed withholding tax (WHT) audit of commercial banks to address potential revenue leakage.
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FBR Says ATL 2023 Gets Over 5 Million Active Taxpayers
ISLAMABAD, July 16, 2024 (PkRevenue.com) – The Federal Board of Revenue (FBR) has announced a significant milestone, revealing that the number of active taxpayers for the tax year 2023 has surpassed 5 million.
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FBR Implements New Withholding Tax Regime for Motor Vehicles
Karachi, July 15, 2024 – The Federal Board of Revenue (FBR) has introduced a new withholding tax regime applicable to the purchase or registration of new motor vehicles, marking a significant shift from the previous tax structure.
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FBR Tightens Income Tax Rules on Royalty Payments
Karachi, July 15, 2024 – In a significant move, the Federal Board of Revenue (FBR) has rolled out new tax changes affecting royalty payments, as introduced through the Finance Act, 2024.
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Finance Act 2024 Cracks Down on Late Tax Return Filings
Karachi, July 14, 2024 – The Finance Act 2024 introduces stringent measures to curb the practice of filing income tax returns after the due date, signaling a significant shift in Pakistan’s tax compliance landscape.
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Final Tax Regime Continues for Service Exports in Pakistan
Karachi, July 14, 2024 – Officials of the Federal Board of Revenue (FBR) has said that the export of services will continue to be subject to the final tax regime in Pakistan.
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FTO Exposes Tax Credit Problems in Leased Vehicles
Karachi, July 14, 2024 – The Federal Tax Ombudsman (FTO) has uncovered a significant problem with the withholding tax system for leased vehicles in Pakistan. This issue can lead to double taxation and denial of rightful tax credit for individuals and businesses leasing cars.
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