Karachi, July 29, 2023 – The Federal Board of Revenue (FBR) has recently put into effect new tax rates on the sales and purchase of immovable properties across the country.
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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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Pakistan Announces 400% Increase in Tax on Payment through Debit/Credit Card
Karachi, July 29, 2023 – In a bid to curb the outflow of dollars and bolster its foreign exchange reserves, Pakistan has taken a significant step by announcing a whopping 400 percent increase in taxes on payments made through debit or credit cards.
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FBR’s Fiscal Fumble: Misses Rs 7.2 Trillion Tax Target for FY23
Karachi, July 28, 2023 – The Federal Board of Revenue (FBR) fell short of its fiscal year 2022-23 tax collection target, as revealed by the finance ministry in a monthly report for July 2023.
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FBR Strengthens Rules for Litigation and Prosecution in Pakistan Customs
Islamabad, July 27, 2023 – The Federal Board of Revenue (FBR) in Pakistan has taken significant steps to enhance the process of litigation and prosecution in Pakistan Customs with the issuance of SRO 960 (I)/2023, notifying a draft amendment to the Customs Rules, 2001.
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FBR Unveils IRIS 2.0: A Game-Changer for Efficient Tax Return Filing
Islamabad, July 27, 2023 – The Federal Board of Revenue (FBR) announced a major step forward in tax administration with the launch of IRIS 2.0, an upgraded version of the tax return filing system.
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FBR Elaborates New Withholding Tax Regime for Motor Vehicles
Karachi, July 27, 2023 – The Federal Board of Revenue (FBR) has elaborated new withholding tax regime for motor vehicles, aiming to streamline the taxation process and generate revenue for the government.
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Your Guide to FBR’s Latest Tax Changes: Cash Withdrawal Tax Explained
In a significant move to boost tax revenues, the Federal Board of Revenue (FBR) has announced the reintroduction of tax collection on cash withdrawals from Non-Active Taxpayer List (ATL) persons by banks.
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FBR Explains Newly Introduced Additional Tax on Windfall Profit
Karachi, July 27, 2023 – The Federal Board of Revenue (FBR) has provided clarification on the recently introduced additional tax on windfall profits, aiming to address concerns and shed light on the amendments made through the Finance Act, 2023 to the Income Tax Ordinance, 2001.
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Additional Income Slabs Introduced to Bring Uniformity in Super Tax
Karachi, July 27, 2023 – In a bid to promote progressivity and uniformity in the taxation system, the Federal Board of Revenue (FBR) has introduced additional income slabs for the Super Tax, as outlined in Circular No. 2 of Income Tax dated July 26, 2023.
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FBR Explains Tax on Bonus Shares for Public and Private Companies
Karachi, July 26, 2023 – The Federal Board of Revenue (FBR) has declared that the newly introduced tax on bonus shares is applicable to both public and private companies.
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