Islamabad, February 29, 2024 – The Federal Board of Revenue (FBR) has taken a significant stride by invoking Section 7E of the Income Tax Ordinance, 2001, in response to a division bench overturning the earlier decision of a single bench.
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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 Achieves Record High with 5.73 Million Active Taxpayers
Karachi, February 26, 2024 – Pakistan has set a historic record with 5.73 million active taxpayers, according to official data released by the Federal Board of Revenue (FBR) on Monday.
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Consequences of Not Filing Income Tax Returns in Pakistan
In Pakistan, the failure to file an income tax return for a specific tax year triggers a series of actions by the Federal Board of Revenue (FBR).
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FBR Seeks New Ideas to Boost Revenue from Undertaxed Sectors
Karachi, February 24, 2024 – In a bid to enhance revenue collection and address the issue of undertaxed sectors, the Federal Board of Revenue (FBR) has urged the offices of Inland Revenue (IR) to contribute new and innovative ideas.
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Taxpayers Beware: FBR Can Sell Property for Tax Recovery
In a move that highlights the stringent measures taken by the Federal Board of Revenue (FBR) to recover outstanding tax amounts, taxpayers should be aware that the FBR possesses the authority to sell immovable properties.
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FBR Seeks Tax Proposals as Pakistan Prepares Budget 2024-25
Islamabad, February 22, 2024 – The Federal Board of Revenue (FBR) has taken a proactive step towards promoting transparency and inclusivity in the upcoming budget formulation process by inviting trade bodies to submit tax proposals for the fiscal year 2024-25.
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Windfall Tax on Banks Deemed Invalid due to Legislative Delay
Karachi, February 22, 2024 – The imposition of a windfall tax on the additional income of banks has become null and void as it failed to secure approval from the national assembly, according to sources.
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FBR Maintains 30% Tax Collection Growth Until Mid-February 2024
Islamabad, February 20, 2024 – The Federal Board of Revenue (FBR) has achieved a remarkable 30 percent growth in tax collection by mid-February 2024, as reported in the latest data released by the Finance Ministry.
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Check Your Name in Latest Active Taxpayers List Issued on Feb 19
Check Your Name in Latest Active Taxpayers List (ATL) Issued by the Federal Board of Revenue (FBR) on February 20, 2024.
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FBR Tightens Procedures for Tax Recovery from Bank Accounts
Karachi, February 19, 2024 – The Federal Board of Revenue (FBR) has tightened its grip on tax recovery procedures, mandating that its offices obtain prior approval for accessing taxpayers’ bank accounts.
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