Karachi, November 21, 2023 – The Federal Board of Revenue (FBR) has notified the rates of default surcharge under the Sales Tax Act, 1990, for the tax year 2024.
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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 Sets Monetary Penalties for Failure in Sales Tax Return Filing in Tax Year 2024
The Federal Board of Revenue (FBR) has introduced monetary penalties for individuals or entities failing to file their sales tax returns for the Tax Year 2024.
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Tax Evaders Get Chance to Avoid Harsh Action Under Pakistan Laws
Karachi, November 19, 2023 – In a bid to encourage voluntary compliance and streamline tax processes, tax evaders in Pakistan now have the opportunity to avoid severe consequences by paying fines and penalties at the preliminary stage of investigation.
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Pakistan Permits Sales Tax Invoices in English or Urdu Language
Karachi, November 19, 2023 – Pakistan has granted taxpayers the flexibility to issue sales tax invoices in either English or Urdu language for documenting transactions, according to the updated Sales Tax Act of 1990 for the tax year 2024.
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FBR Advises Taxpayers to Maintain Detailed Records for Tax Year 2024
Karachi, November 19, 2023 – The Federal Board of Revenue (FBR) has issued a directive advising taxpayers to maintain comprehensive records of purchases and supplies throughout the tax year 2024.
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FBR Launches Sweeping Crackdown Against Non-Filers by Cutting Mobile Phones and Electricity Connections
Karachi, November 18, 2023 – In a major move to enhance tax compliance, the Federal Board of Revenue (FBR) has initiated a significant crackdown against non-filers of tax returns by employing stringent measures, including the disabling of mobile phone and electricity connections, according to official sources on Saturday.
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Citizen Health Initiative Commends Government and FBR in Fight Against Illicit Cigarettes
November 17, 2023: The Citizen Health Initiative (CHI) has applauded the unwavering efforts of the government and the Federal Board of Revenue (FBR) in their campaign to eliminate illicit cigarettes from the country, with a particular focus on cracking down on retailers. The initiative aims to pave the way for a smoke-free nation.
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Government Empowered to Impose Windfall Tax Across Sectors with Section 99D
Karachi, November 16, 2023 –Section 99D of the Income Tax Ordinance, 2001, has granted the federal government the authority to levy an additional tax on windfall profits across various sectors of the economy, according to sources within the Federal Board of Revenue (FBR).
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