Islamabad, August 22, 2023 – In a significant move towards streamlining trade processes and enhancing compliance, the Federal Board of Revenue (FBR) has issued a notification to enforce the Pakistan Single Window (PSW) system for all government agencies.
(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.
-
Number of Active Taxpayers in Pakistan Reaches Record High at 4.43 Million
Islamabad, August 21, 2023 – In a significant milestone for Pakistan’s revenue collection efforts, the Federal Board of Revenue (FBR) has announced that the number of active taxpayers in the country has reached a record high of 4.43 million.
(more…) -
Salary Taxation in Pakistan: FBR Issues Updated Guidelines
Islamabad, August 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently released an updated structure of taxation on salary income, with the new regulations coming into effect on July 1, 2023.
(more…) -
FBR Sets Heavy Penalties for Income Concealment
Karachi, August 20, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards promoting tax transparency and accountability by prescribing penalties for the concealment of income.
(more…) -
Pakistan Issues Income Tax Rates for Foreign Shipping and Air Transport
Karachi, August 19, 2023 – Pakistan has officially released the income tax rates applicable to foreign shipping and air transport for the tax year 2023-24, which commenced on July 1, 2023.
(more…) -
Caretaker Finance Minister Advises FBR to Enhance Tax to GDP Ratio
Islamabad, August 18, 2023 – The newly appointed Caretaker Finance Minister, Shamshad Akhtar, has issued a directive to the Federal Board of Revenue (FBR) to focus on improving the tax to GDP ratio.
(more…) -
FBR Urged to Extend Sales Tax Return Date as Provincial Portals Facing Glitches
Karachi, August 18, 2023 – The Karachi Tax Bar Association (KTBA) has formally requested the Federal Board of Revenue (FBR) to consider extending the deadline for filing sales tax returns due to technical issues plaguing provincial filing portals.
(more…) -
Pakistan Extends Rs30 Billion Tax Exemption to Foreigners on Profit from Debt
Karachi, August 17, 2023 – In a bid to attract foreign investment and bolster the economy, Pakistan has granted a significant income tax exemption exceeding Rs30 billion to foreign entities for profits generated from debt during the fiscal year 2022-23.
(more…) -
Pakistan Unveils Comprehensive Income Categories for Precise Taxation
Karachi, August 17, 2023 – The Federal Board of Revenue (FBR), Pakistan’s foremost tax authority, has unveiled the distinct categories of income for taxation purposes during the fiscal year 2023-24.
(more…) -
FBR Announces Mandatory Tax Return Filing Categories for 2023
Karachi, August 17, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by outlining the categories of individuals who are required to file their annual income tax returns for the tax year 2023.
(more…)