Karachi, April 23, 2024 – The Federal Board of Revenue (FBR) is reviewing a pivotal proposal from the Pakistan Business Council (PBC) aimed at enhancing property valuations to align closer with the fair market value (FMV).
(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.
-
FBR Intensifies Crackdown on Illicit Tobacco Trade Nationwide
Islamabad, April 22, 2024 – In a significant move to combat the menace of illegal tobacco trade and to protect the nation’s revenue, the Federal Board of Revenue (FBR) launched a comprehensive crackdown across the country, raiding multiple outlets involved in selling counterfeit and non-stamped cigarettes.
(more…) -
FBR Intensifies Crackdown on Counterfeit Goods
The Federal Board of Revenue (FBR) has intensified crackdown on counterfeit goods to ensure compliance with digital tax stamp regulations on key commodities, including cigarettes, sugar, and fertilizers.
(more…) -
FTO and FBR Address Taxpayer Concerns
Federal Tax Ombudsman (FTO), Dr. Asif Mahmood Jah, convened a significant meeting with Member Inland Revenue (Operations) of the Federal Board of Revenue (FBR), Mir Badshah Khan Wazir, and his team to deliberate on issues concerning taxpayers.
(more…) -
Tajir Dost Scheme – A Potential Missed Opportunity?
The recent unveiling of the Tajir Dost Scheme (TDS) by the Federal Board of Revenue (FBR) has sparked discussions and debates across Pakistan.
(more…) -
FBR Removes Balance Sheet Requirement for Tax Return Filing
In a move aimed at reducing administrative burdens and facilitating compliant taxpayers, the Federal Board of Revenue (FBR) has eliminated the requirement of submitting balance sheets detailing assets and liabilities alongside monthly sales tax returns for those already enlisted with the sales tax department.
(more…) -
All You Need to Know About Filing Tax Appeals with FBR
Any person dissatisfied with any order passed by a Commissioner of Inland Revenue has the right of appeal before the Federal Board of Revenue (FBR).
(more…) -
KTBA Criticizes FBR’s Half-hearted Documentation Efforts
In a seminar held on April 18, 2024, the Karachi Tax Bar Association (KTBA) voiced its concerns over what it perceives as half-hearted efforts by the Federal Board of Revenue (FBR) towards the documentation of the economy.
(more…) -
FBR Raises CNG Value by 48% for Sales Tax Charging
The Federal Board of Revenue (FBR) Thursday announced a significant increase in the value of Compressed Natural Gas (CNG) by 48 percent for the purpose of charging sales tax.
(more…) -
New Provisions Disrupt Sales Tax Return Filing
Karachi, April 18, 2024 – The implementation of new provisions in the sales tax laws by the Federal Board of Revenue (FBR) has significantly disrupted the process of return filing for the month of March 2024.
(more…)