Karachi, September 11, 2023 – A critical flaw within the digital tax infrastructure of IRIS 2.0 has come to light, causing a predicament for taxpayers who find themselves unable to effectively engage with audit and assessment notices.
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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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Record-Breaking 4.6 Million on ATL as FBR Intensifies Hunt for Potential Taxpayers
Karachi, September 11, 2023 – Pakistan’s Active Taxpayers List (ATL) has soared to a remarkable pinnacle, reaching a record-breaking 4.6 million individuals and entities.
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Penalties for Failure in Return Filing by Due Date in Pakistan
Karachi, September 10, 2023 – The Federal Board of Revenue (FBR) in Pakistan has established stringent penalties for individuals, businesses, Associations of Persons (AOPs), and companies that fail to file their annual income tax returns by the due date.
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IR Intelligence Karachi Detains Four in Rs 11.69 Billion Fake Invoices Scam
Karachi, Pakistan – The Directorate of Intelligence and Investigation (IR) in Karachi has made a significant breakthrough by apprehending four individuals involved in a complex inter-province fake sales tax invoice racket. This scam has reportedly caused a staggering loss of Rs. 11.692 billion to the national exchequer.
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Pakistan authorizes taxmen to enter and search premises for audit
Karachi, September 9, 2023 – Pakistan has granted authorization for tax authorities to enter and search premises for the purpose of conducting audits and assessing individuals liable for taxation.
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FBR Mandates Taxpayers to Retain Records for Six Years for Audit Purposes
Karachi, September 9, 2023 – The Federal Board of Revenue (FBR) has reminded taxpayers of the mandatory requirement to retain records for the past six years for audit purposes.
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Principal Appraiser Dismissed from Pakistan Customs Service for Unauthorized Absence
Karachi, September 8, 2023 – A principal appraiser within the Pakistan Customs Service (PCS) has faced a major penalty of dismissal from service due to unauthorized absence from duty.
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FBR Launches Aggressive Initiative to Combat Fake and Flying Invoices
Karachi, September 7, 2023 – The Federal Board of Revenue (FBR) has taken a decisive step to tackle the growing menace of fake and flying invoices, a practice that has been undermining government revenues and integrity in tax administration. This initiative, announced through Sales Tax General Order No. 12 of 2023, outlines a comprehensive plan to confront this issue head-on.
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FBR to Compensate Taxpayers with KIBOR+0.5% Interest for Delayed Income Tax Refunds
Karachi, September 7, 2023 – The Federal Board of Revenue (FBR) in Pakistan has introduced a policy to compensate taxpayers for delayed income tax refunds.
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Caretaker Prime Minister Emphasizes Better Coordination for Tax Documentation
Islamabad, September 7, 2023 – Caretaker Prime Minister Anwaar-ul-Haq Kakar emphasized the need for enhanced coordination between the federal and provincial authorities in the realm of tax documentation.
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