Karachi, November 29, 2023 – In a concerted effort to expand the national tax base, tax authorities in Pakistan, led by the Federal Board of Revenue (FBR), have implemented a series of measures aimed at identifying and registering new taxpayers.
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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 Freezes Bank Accounts of National Flag Carrier for Rs 2.76 Billion Recovery
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) took stringent action on Wednesday by freezing all bank accounts of Pakistan International Airlines (PIA), the national flag carrier, in an effort to recover an outstanding tax amount of Rs 2.76 billion.
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FBR Plans Harsh Action for Windfall Tax Recovery from Banks
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) is gearing up for stringent measures to recover windfall tax from banks as the payment deadline looms.
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FBR Identifies Challenges in Achieving Rs 9.415 Trillion Target for 2023-24
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has acknowledged the formidable challenges ahead in achieving the ambitious tax collection target of Rs 9.415 trillion for the fiscal year 2023-24.
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Customs Duty Collection Drops by 7.8% in FY23 on Falling Imports
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has reported a 7.8 percent drop in customs duty collection during fiscal year 2022-23, attributing the decline to challenges arising from falling imports.
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Sales Tax Collection Grows Marginally by 2.3% Despite Uniform Rate Increase in FY23
Karachi, November 28, 2023 – The collection of sales tax during the fiscal year 2022-23 exhibited marginal growth of 2.3 percent, reaching Rs. 2,591 billion, despite an increase in the uniform sales tax rate to 18 percent.
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Direct Taxes Lead Fiscal Year 2022-23 Revenue Collection with 46% Contribution
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has revealed in its fiscal year 2022-23 yearbook that direct taxes emerged as the leading contributor to total revenue collection, accounting for an impressive 46 percent share.
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FBR Achieves Historic Rs 7 Trillion Collection Milestone, Slightly Misses FY23 Target
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has announced the achievement of a historic milestone by surpassing the Rs 7 trillion collection mark for the first time in the country’s history.
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FBR Directs Stock Investors to Maintain Records for Verification in Tax Year 2024
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has issued a directive to all investors in the Pakistan Stock Exchange (PSX) to maintain comprehensive records for the verification of liability discharge during the tax year 2024.
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FBR Unveils Sales Tax Recovery Procedure for Tax Year 2024
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has announced the comprehensive procedure for the recovery of sales tax for the upcoming tax year 2024.
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