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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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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Tax Makeover: Capital Gains on Securities and Shares Get Fresh Look
Karachi, July 26, 2023 – The Federal Board of Revenue (FBR) has announced significant tax amendments pertaining to capital gains on securities and shares through an official notification, Circular No. 2 of Income Tax.
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Breaking Barriers: FBR Expands Associate Scope to Tackle Tax Avoidance
Karachi, July 26, 2023 – In a bid to strengthen its efforts against tax avoidance, the Federal Board of Revenue (FBR) has taken a significant step by enlarging the scope of associate.
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Pakistan Amends Laws to Tax Virtual Businesses of Foreign Entities
Karachi, July 26, 2023 – In a significant move, Pakistan has revised its tax laws to include virtual businesses operated by foreign entities within the scope of taxation.
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FBR Implements Bar on Property Purchases for Section 7E Defaulters
Karachi, July 26, 2023 – In a significant move aimed at ensuring tax compliance, the Federal Board of Revenue (FBR) has announced that individuals defaulting under Section 7E of the Income Tax Ordinance, 2001, will be barred from purchasing immovable properties.
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FBR Unveils Updated Tax Rates for Salaried Persons in 2023-24
Islamabad, July 26, 2023 – The Federal Board of Revenue (FBR) has recently updated the tax rates for salaried individuals for the tax year 2023-24.
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Updated Definition of Tier-1 Retailers for Tax Year 2023-24 in Pakistan
As the tax landscape evolves, tax authorities in Pakistan have recently issued an updated definition of Tier-1 retailers for the Tax Year 2023-24.
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Cracking the Code: Demystifying Taxable Activities Under Pakistan’s Sales Tax Act
Karachi, July 25, 2023 – The Federal Board of Revenue (FBR) has recently issued an updated version of the Sales Tax Act, 1990, which came into effect on July 1, 2023, and provides a comprehensive explanation of taxable activities in Pakistan.
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Pakistan’s Active Taxpayers Skyrocket to 4.22 Million After Bold Cash Withdrawal Move
Islamabad, July 25, 2023 – Pakistan’s Active Taxpayers List (ATL) has achieved a significant milestone, now boasting 4.22 million active taxpayers. This notable growth occurred following the implementation of cash withdrawal conditions on July 1, 2023.
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FBR Sets Deadline for Income Return Filing for Tax Year 2023
Islamabad, July 24, 2023 – The Federal Board of Revenue (FBR) has officially declared the deadline for filing income tax returns for the Tax Year 2023.
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