Islamabad, August 27, 2024 – The Federal Board of Revenue (FBR) has firmly denied reports circulating in the media regarding an amnesty scheme for smuggled vehicles.
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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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Value of Perquisites Chargeable to Tax Under Salary Income
Karachi, August 27, 2024 – The Federal Board of Revenue (FBR) has announced that the value of perquisites will be chargeable to tax under the head of salary income for the tax year 2024-25. According to the updated Income Tax Ordinance, 2001, released up to June 30, 2024, several provisions have been clarified concerning the chargeability of various perquisites provided to employees by their employers.
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FBR Suspends Customs Officer for Choice Posting Pressure
KARACHI, August 27, 2024: The Federal Board of Revenue (FBR) has suspended Jawad-ul-Hassan, a BS-18 officer of the Pakistan Customs Service (PCS), for 120 days due to alleged misconduct involving pressuring authorities for a preferred posting.
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FBR to Amend SRO 1064: A Win for Traders
MULTAN: The Federal Board of Revenue (FBR) will revise SRO 1064 of the Tajir Dost Scheme, considering the demands and concerns of traders, according to Naeem Mir, Chief Coordinator of the scheme.
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FBR Unveils Tax Guidelines for Salary Income in 2024-25
Karachi, August 26, 2024 – The Federal Board of Revenue (FBR) has issued a detailed explanation regarding the taxable salary income for the tax year 2024-25, according to the Income Tax Ordinance, 2001, updated until June 30, 2024.
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FBR Invites Traders for Negotiations Ahead of Shutter Down
Islamabad, August 25, 2024 – The Federal Board of Revenue (FBR) has reached out to traders for negotiations concerning a controversial tax scheme ahead of a shutter-down strike planned for August 28, 2024. This move comes as the traders’ community in Karachi and other parts of the country announced their decision to close shops and businesses in protest against what they describe as unfair taxation and inflated utility bills.
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Karachi Traders Firm on August 28 Shutter Down
Karachi, August 25, 2024 – In a heated press conference held on Sunday, prominent traders associations from Karachi announced their firm stance to proceed with a shutter-down strike on August 28, 2024.
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FBR Issues SRO 1290/2024 to Streamline Tax Dispute for SOEs
Islamabad, August 25, 2024 – The Federal Board of Revenue (FBR) has issued a draft Statutory Regulatory Order (SRO) 1290(I)/2024 on August 24, 2024, aimed at resolving tax disputes involving state-owned enterprises (SEOs) through Alternate Dispute Resolution Committees (ADRCs).
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Pakistani Salary Class Pays Rs 322 Billion in Income Tax for FY24
Islamabad, August 25, 2024 – The salary class in Pakistan has made a substantial contribution to the country’s tax revenues, paying Rs 322 billion in income tax during the fiscal year 2023-24. This remarkable figure was disclosed by official sources in the Federal Board of Revenue (FBR), highlighting the significant role of salaried individuals in the national tax collection framework.
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Computation of Taxable Income in Pakistan for TY 2024-25
Karachi, August 25, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation regarding the computation of taxable income in Pakistan for the tax year 2024-25.
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