The Federal Board of Revenue (FBR) has embarked on a significant administrative restructuring, unveiling a comprehensive reshuffle involving 74 senior officers within the Inland Revenue Service (IRS).
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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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Taxpayers Encounter New Challenges in Return Filing: Karachi Tax Bar
Karachi, September 6, 2023 – Taxpayers in Pakistan are grappling with a range of fresh challenges as they attempt to file their annual income tax returns for the tax year 2023.
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Indus Motor Challenges Rs 634 Million Tax Demand in Sindh High Court
Karachi, September 6, 2023 – The Indus Motor Company Limited has taken legal action by challenging a substantial tax demand amounting to Rs 634 million before the Sindh High Court.
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Pakistan Tightens Checks on Petroleum Levy Collection
Karachi, September 5, 2023 – Pakistan has taken significant steps to enhance oversight and control over the collection of petroleum levy, signaling a move towards more transparent and efficient revenue collection in the petroleum sector.
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FBR Reaffirms Tax Exemption for Agriculture Income under Updated Tax Laws
Karachi, September 5, 2023 – The Federal Board of Revenue (FBR) has affirmed that agriculture income is exempted from federal income tax laws in Pakistan.
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Pakistan’s Active Taxpayers List Reaches Record High of 4.54 Million
Karachi, September 5, 2023 – Pakistan’s Active Taxpayers List (ATL) has reached an all-time high, with approximately 4.54 million individuals and businesses now on the list, according to official documents released by the Federal Board of Revenue (FBR), Pakistan’s apex tax agency.
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FBR Provides Explanation for Provision Regarding Consumer Loans
Karachi, September 4, 2023 – The Federal Board of Revenue (FBR) has explained the provision related to consumer loans in the updated Income Tax Ordinance, 2001, effective from July 1, 2023.
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FBR Releases Guidelines for Tax Payment on Immovable Properties Under Section 7E
Karachi, September 4, 2023 – The Federal Board of Revenue (FBR) has issued comprehensive guidelines on the procedure for income tax payment under Section 7E of the Income Tax Ordinance, 2001.
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FBR Sets Conditions for Deduction of Bad Debts in Tax Year 2024
Karachi, September 3, 2023 – The Federal Board of Revenue (FBR) has issued guidelines specifying conditions for allowing deductions for bad debts during the tax year 2024.
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PTBA Criticizes FBR for Unlawful Changes to Return Filing Portal, Urges Swift Resolution
Karachi, September 3, 2023 – The Pakistan Tax Bar Association (PTBA) has strongly criticized the Federal Board of Revenue (FBR) for implementing unauthorized changes to the tax return filing system, causing significant challenges for taxpayers as the September 30, 2023 deadline approaches.
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