PkRevenue.com – The Federal Board of Revenue (FBR) has proposed a 100 percent increase in tax on bonus shares for individuals who are not listed on the Active Taxpayers List (ATL). The tax managers at the FBR have recommended amendments to the Income Tax Ordinance, 2001, to be implemented in the forthcoming budget for 2024-25.
(more…)Tag: FBR
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 Achieves 31% Revenue Collection Growth in 11MFY24
PkRevenue.com – The Federal Board of Revenue (FBR) has recorded an impressive 31 percent growth in revenue collection during the first eleven months (July-May) of the fiscal year 2023-24.
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Turmoil at Tax Offices: FBR Suspends Lahore RTO DC
PkRevenue.com – The Federal Board of Revenue (FBR) has suspended Khurram Fakhar Siddique, Deputy Commissioner (DC) Headquarter, Regional Tax Office (RTO) Lahore.
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FBR Issues Urgent Directives to IR Offices on Tax Collection
PkRevenue.com – In an urgent move, the Federal Board of Revenue (FBR) has directed Inland Revenue offices to observe extended working hours today, Friday, May 31, 2024, to bolster revenue collection efforts.
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FBR Transfers Key Lahore Tax Officers in Surprise Shakeup
PkRevenue.com – In an unexpected move just days before the federal budget presentation, the Federal Board of Revenue (FBR) has transferred key officials from the Large Taxpayers Office (LTO) in Lahore to the administrative pool.
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FBR Suggests New CGT on Non-Residents’ Capital Assets
PkRevenue.com – In a move aimed at tightening tax regulations, the Federal Board of Revenue (FBR) has proposed the imposition of capital gains tax (CGT) on the disposal of capital assets by non-residents.
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FBR Proposes Major Penalty Hikes for Sales Tax Violations
PkRevenue.com – In a bold move aimed at bolstering tax compliance, the Federal Board of Revenue (FBR) has proposed an unprecedented escalation in penalties for violations of sales tax regulations.
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FBR Aims to Generate Rs 205 Billion Additional Trade Tax in FY25
PkRevenue.com – The Federal Board of Revenue (FBR) of Pakistan is gearing up to generate an additional Rs 205 billion through trade taxes in the fiscal year 2024-25. This target represents a 9 percent increase over the projected trade tax collection of Rs 1.09 trillion for the current fiscal year, 2023-24.
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Check Your Name in ATL Updated as of May 26, 2024
(PkRevenue.com) – The Federal Board of Revenue (FBR) has released the updated Active Taxpayers List (ATL) for the tax year 2023, which has been updated as of May 26, 2024. The FBR is encouraging all citizens to check their status on this list to avail themselves of the numerous benefits associated with being a compliant taxpayer.
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FBR Proposes Tax on Govt. Securities Sold Before Maturity
(PkRevenue.com) – In a bid to curb revenue leakage and enhance the documentation of financial transactions, the Federal Board of Revenue (FBR) has proposed imposing a withholding tax on government securities sold before their maturity. This proposal is part of the FBR’s budget recommendations for the fiscal year 2024-25.
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