Karachi, August 28, 2023 – In a remarkable development, a significant surge has been observed in Pakistan’s Active Taxpayers List (ATL), driven by citizens seeking this status to circumvent skyrocketing electricity bills.
(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 Updates Depreciation Rates Under Income Tax Ordinance for Tax Year 2023-24
Islamabad, August 28, 2023 – In a move aimed at providing clarity and consistency in tax calculations for businesses across Pakistan, the Federal Board of Revenue (FBR) has announced updated depreciation rates under the Income Tax Ordinance, 2001, for the tax year 2023-24.
(more…) -
Pakistan Unveils New Withholding Tax Rates on Electricity Bills
Karachi, August 27, 2023 – In a bid to streamline its tax system and encourage responsible energy consumption, the Federal Board of Revenue (FBR) of Pakistan has unveiled revised withholding tax rates on electricity bills for the fiscal year 2023-24.
(more…) -
FBR Surprises Key IRS Officers with Reshuffle on Sunday
Karachi, August 27, 2023 – In a surprising move, the Federal Board of Revenue (FBR) announced a major reshuffle of officers within the Inland Revenue Service (IRS) on Sunday, August 27, 2023.
(more…) -
FBR Takes Faysal Bank to High Court Over Tax Dispute
Karachi, August 25, 2023 – The Federal Board of Revenue (FBR) has taken legal action against Faysal Bank Limited concerning a tax dispute related to the taxability of gains on a bargain purchase.
(more…) -
Three Customs Officials Dismissed Over Involvement in Mega Clearance Scam
Karachi, August 25, 2023 – In a significant development, the Federal Board of Revenue (FBR) has taken decisive action against corruption within its ranks by dismissing three customs officials for their involvement in a major clearance scam.
(more…) -
FBR to Treat Speculation Business Separately for Tax Imposition
Karachi, August 24, 2023 – In a significant development, the Federal Board of Revenue (FBR) has announced that it will now treat speculation business as a distinct entity for tax purposes.
(more…) -
FBR Affirms Profits and Gains as Constituent of Business Income for Taxation
Karachi, August 23, 2023 – The Federal Board of Revenue (FBR) has confirmed that profits and gains arising from any business activity will be considered a component of an individual’s income for tax purposes.
(more…) -
Understanding Income from Property and Taxation in Pakistan
Karachi, August 23, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently issued an updated version of the Income Tax Ordinance, 2001, shedding light on how to determine income from property in the country.
(more…) -
FBR Seizes Large Quantity of Cigarettes from Leading Manufacturer for Tax Violations
Islamabad, August 22, 2023 – In a significant crackdown on tax law violations, the Federal Board of Revenue (FBR) has seized a substantial quantity of cigarettes from a prominent manufacturer.
(more…)