Karachi, May 8, 2024 – The Federal Board of Revenue (FBR) has amended the requirements for submitting balance sheets along with monthly sales tax returns.
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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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Thousands of Cases Stuck Amid Missing Rules for New Tax Laws
As the government rolled out the Tax Laws (Amendment) Act, 2024, thousands of tax cases have been bottlenecked at various tribunals, casting a shadow over the efficacy of the new legislative framework.
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CMOs Push Back Against SIM Block Directive for Tax Non-Filers
In a recent turn of events that has the telecom industry at odds with the Federal Board of Revenue (FBR), Cellular Mobile Operators (CMOs) in Pakistan have voiced significant apprehensions regarding the FBR’s directive to block SIM cards of tax non-filers.
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FBR Announces Key Team for Digital Transformation of Tax System
Islamabad, May 7, 2024 – The Federal Board of Revenue (FBR) has announced the formation of a project management team tasked with overseeing the digitalization of Pakistan’s tax system.
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FBR Gets Record 110,000 Active Taxpayers Amid SIM Blocking
Karachi, May 6, 2024 – The Federal Board of Revenue (FBR) has reported a record surge in active taxpayer registrations this week, with 110,000 new sign-ups, bringing the total to 4.18 million for the 2023 tax year.
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FBR to Enforce SIM Blocking of Non-Filers Despite PTA Refusal
In a recent move aimed at increasing tax compliance, the Federal Board of Revenue (FBR) has affirmed its intention to block the mobile phone SIMs of non-filers of income tax returns for the tax year 2023.
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Controversy Brews Over FBR Plan to Block SIMs of Non-Filers
A contentious proposal by the Federal Board of Revenue (FBR) to block the mobile phone SIMs of tax non-filers has ignited controversy and raised legal challenges after the Pakistan Telecommunication Authority (PTA) rejected the initiative, media reported on Saturday.
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FTO Directs FBR for Swift Action Against Fraudulent GDs
Karachi, May 4, 2024 – The Federal Tax Ombudsman (FTO) has mandated an immediate investigation by the Federal Board of Revenue (FBR) into the rampant misuse of Goods Declarations (GD) concerning export consignments processed through Pakistan’s integrated customs platforms, the Pakistan Single Window (PSW) and Web Based One Customs (WeBOC).
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Calls Intensify for FBR to Eliminate CVT on Foreign Assets
In the run-up to the 2024-25 budget, the Federal Board of Revenue (FBR) has been urged to abolish the Capital Value Tax (CVT) on foreign assets to prevent an exodus of business talent and investment from Pakistan.
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President Zardari Enacts Tax Laws Amendment Bill 2024
President Asif Ali Zardari has given his assent to the Tax Laws Amendment Bill 2024, ushering in a series of adjustments aimed at enhancing the effectiveness and fairness of Pakistan’s tax system.
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