KARACHI, November 27, 2023 – The Federal Board of Revenue (FBR) announced the release of the weekly Active Taxpayers List (ATL) on Monday, revealing a significant surge in the number of active taxpayers, setting a new record at 5.2 million by the week ending November 26, 2023.
(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.
-
Rules Notified for Computation of Capital Gain or Loss in Pakistan for Tax Year 2024
Karachi, November 27, 2023 – Rules have been notified for computing capital gain or loss in Pakistan during tax year 2024. The Federal Board of Revenue (FBR) has announced the updated Income Tax Rule, 2002 for the tax year 2024, specifying the methodology for computing capital gains or losses in Pakistan.
(more…) -
Sales Tax Act Empowers Taxpayers with Right to Appeal Against Inland Revenue Orders
Karachi, November 27, 2023 – The Federal Board of Revenue (FBR) has unveiled the updated Sales Tax Act, 1990 for the upcoming tax year 2024, providing taxpayers with the right to appeal against decisions or orders made by officers of the Inland Revenue.
(more…) -
FBR Releases Comprehensive List of Particulars for Depreciation Deduction in Tax Year 2024
Karachi, November 26, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing transparency and accuracy in tax reporting by issuing a detailed list of particulars required for claiming depreciation deduction during the tax year 2024.
(more…) -
Commissioner Inland Revenue Granted Suo Moto Powers to Scrutinize Records in Tax Year 2024
Karachi, November 26, 2023 – The Commissioner Inland Revenue has been bestowed with suo moto powers to call for records during the tax year 2024.
(more…) -
FBR Implements Stricter Limits on Entertainment Expenditures for Corporate Tax Calculation
Karachi, November 25, 2023 – The Federal Board of Revenue (FBR) has enforced new restrictions on the deduction of entertainment expenditures when computing corporate taxes for the tax year 2024.
(more…) -
Implementation of Windfall Tax on Banks Contingent on Timely General Elections
Karachi, November 25, 2023 – The caretaker government finds itself in a challenging situation following the recent announcement of a windfall tax on banks, as the amendment necessitates approval from the National Assembly.
(more…) -
Pakistan Announces Relaxation Period for Afghan Transit Goods Amid New Security Measures
Karachi, November 25, 2023 – Pakistan has declared a relaxation period for Afghan transit goods, alleviating some of the conditions previously imposed, including the requirement for bank guarantees.
(more…) -
Tax Collection from Dividend Surges 32% in First Four Months of Fiscal Year 2023-24
Karachi, November 24, 2023 – The withholding tax collection from dividend income has experienced a remarkable increase of 32 percent during the initial four months (July – October) of the fiscal year 2023-24, according to provisional data from the Large Taxpayers Office (LTO) in Karachi.
(more…)