Karachi, August 8, 2023 – The non-ATL buyers of immoveable property will face 250 percent higher tax during fiscal year 2023-24, according to the Federal Board of Revenue (FBR).
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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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ATL Broadens to 4.32 Million
Pakistan’s Active Taxpayers List (ATL) has seen a significant increase, reaching 4.32 million, owing to measures that compelled non-compliant individuals and businesses to join the documentation system.
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FBR Chairman Rejects Tax Exemption for Realtors Amid IMF Stand-By Arrangement
Islamabad, August 7, 2023 – In a meeting with representatives from the real estate sector, Malik Amjed Zubair Tiwana, the Chairman of the Federal Board of Revenue (FBR), firmly declined to grant any tax exemption to the realtors.
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FBR Introduces 15% Income Tax on Prepaid Phone Cards
Karachi, August 6, 2023 – In a recent development, the Federal Board of Revenue (FBR) has imposed a 15 percent income tax on the sale price of prepaid phone cards.
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Latest Tax Rates for Electricity Consumption in FY 2023-24
Karachi, August 6, 2023 – The Federal Board of Revenue (FBR) has announced the latest tax rates for electricity consumption for the fiscal year 2023-24.
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FBR Introduces 200% Higher Tax Rates for Non-ATL Motor Vehicle Registration in FY 2023-24
In a move aimed at broadening the tax net and encouraging tax compliance, the Federal Board of Revenue (FBR) has announced a substantial 200 percent increase in tax rates for individuals not appearing on the Active Taxpayers List (ATL) at the time of motor vehicle registration during the fiscal year 2023-24.
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FBR Headquarter Staff to Present on Weekly Holidays 5th and 6th August
Tax officials stationed at the Federal Board of Revenue (FBR) headquarters have received a directive to report for duty on the upcoming weekly holidays, specifically Saturday, August 5, and Sunday, August 6, 2023.
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FBR Chairman Constitutes Committee to Address Tax Issues Faced by Karachi Business Community
Karachi, August 4, 2023 – In an effort to expedite the resolution of tax matters affecting the business community in Karachi, the Chairman of the Federal Board of Revenue (FBR), Amjad Zubair Tiwana, announced the formation of a high-powered committee.
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Pakistan Customs Official Awarded Major Penalty for Corruption
Islamabad, August 4, 2023 – In a recent development, an official of Pakistan Customs has been slapped with a major penalty following charges of corruption, misconduct, and inefficiency.
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Income Tax Rates on Prize Bond Winnings in Pakistan for FY 2023-24
Karachi, August 4, 2023 – The Federal Board of Revenue (FBR) in Pakistan has announced updated income tax rates on the winning of prize bonds and lottery for the fiscal year 2023-24, in accordance with Section 156 of the Income Tax Ordinance, 2001.
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