Islamabad, July 18, 2023 – Pakistan has imposed conditional duties and taxes on the import of motor vehicles by foreign diplomats. The Federal Board of Revenue (FBR) issued SRO 923(I)/2023 on Tuesday, notifying changes to the regime governing the import of motor vehicles by diplomats.
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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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FBR Plans New Indemnity Bond to Facilitate Exporters
ISLAMABAD: The Federal Board of Revenue (FBR) has unveiled a new indemnity bond for exporters, allowing them to sell or transfer plant machinery, equipment, and apparatus from one Export Facilitation Scheme (EFS) user to another.
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Sales Tax in Pakistan: A Definition for Clarity in Consumption Tax
Karachi, July 18, 2023 – The concept of sales tax has been formally defined under the prevailing tax laws in Pakistan, aiming to bring clarity and precision to the imposition of consumption tax.
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Sales Tax Law Defines Retail Price under Pakistan’s Tax Regulations
Karachi, July 18, 2023 – The Sales Tax Law in Pakistan has unveiled a clear definition of the retail price, bringing much-needed clarity for businesses and consumers.
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Sales Tax Act Defines Cottage Industry in Pakistan
Karachi, July 17, 2023 – The Sales Tax Act in Pakistan has recently provided a clear definition for the term “cottage industry.” The Federal Board of Revenue (FBR) has issued an updated version of the Sales Tax Act, 1990, effective from July 1, 2023.
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Pakistan ATL Surges to 4.15 Million Following Cash Withdrawal Conditions Implementation
Islamabad, July 17, 2023 – The Pakistan Active Taxpayers List (ATL) has experienced a substantial growth, reaching a record high of 4.15 million individuals, after the introduction of cash withdrawal conditions on July 1, 2023. The Federal Board of Revenue (FBR) recently released an updated ATL for the tax year 2022, based on returns filed until July 16, 2023.
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FBR Invites Applications for Appointment of Advocates to Strengthen Legal Team
Karachi, July 17, 2023 – The Federal Board of Revenue (FBR) has announced an open invitation for applications for the appointment of advocates, aiming to assemble a smart and proficient legal team to support its tax department.
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High-level transfers rattle Pakistan Customs; FBR issues notification on Sunday
Islamabad, July 16, 2023 – High-level transfers have sent shockwaves through Pakistan Customs as the organization grapples with recent reports of bribery and corruption.
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Updated Definition of Company Under Sales Tax Laws
The Federal Board of Revenue (FBR) has recently issued an updated definition of a company under the Sales Tax Act, 1990, effective from July 1, 2023.
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Understanding Definition of Active Taxpayer Under Sales Tax Act, 1990
In an effort to streamline tax administration and promote compliance, the Federal Board of Revenue (FBR) has recently released an updated definition of an active taxpayer under the Sales Tax Act, 1990.
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