KARACHI, October 24, 2023 – The Federal Board of Revenue (FBR) and the Karachi Tax Bar Association (KTBA) convened on Tuesday to deliberate on challenges surrounding the filing of tax returns for the tax year 2023.
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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 Unlikely to Extend Deadline for Tax Return Filing Beyond October 31
Islamabad, October 24, 2023 – The Federal Board of Revenue (FBR) is expected to stick to the October 31, 2023, deadline for filing the annual return of income for tax year 2023, with no further extensions in sight. This decision follows the recent one-month extension granted by the FBR.
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Pakistan Achieves Record-High Number of Active Taxpayers at 4.93 Million
Karachi, October 24, 2023 – Pakistan has achieved a historic milestone with a record-breaking 4.93 million active taxpayers, as per the latest data released by the Federal Board of Revenue (FBR).
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Tax-to-GDP Ratio Falls to 8.5% in FY23 from Previous 9.2%: State Bank
Karachi, October 23, 2023 – The tax-to-GDP ratio in Pakistan has declined to 8.5 percent in the fiscal year 2022-23, down from the previous year’s 9.2 percent, according to official data revealed on Monday.
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FBR Initiates Action Against Millers for Under-Declaring Sugar Value to Evade Sales Tax
Karachi, October 22, 2023 – The Federal Board of Revenue (FBR) has launched an action against sugar millers for allegedly declaring a lower value of sugar to evade sales tax.
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FBR Establishes Committee to Implement Single Portal for Sales Tax Return Filing
Islamabad, October 20, 2023 – The Federal Board of Revenue (FBR) took a significant step on Friday by constituting a dedicated committee tasked with the design, development, and implementation of a single portal for the filing of sales tax returns across various jurisdictions.
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Lady Customs Officer Dismissed from Service for Unauthorized Absence
Karachi, October 20, 2023 – In a significant development, a female customs officer, Ms. Bushra Aafrin, has been handed a major penalty of dismissal from service by the Federal Board of Revenue (FBR) due to her unauthorized absence from duty.
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FBR and NADRA Discuss Information Sharing of Taxpayers
Islamabad, October 20, 2023 – The Federal Board of Revenue (FBR) and the National Database Registration Authority (NADRA) have engaged in discussions regarding the sharing of information related to taxpayers.
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Exporters Voice Outrage Over Abrupt Suspension of Online Sales Tax Refund Processing
Karachi, October 19, 2023 – Exporters in Pakistan are up in arms over the sudden suspension of online processing for sales tax refund claims by the Federal Board of Revenue (FBR).
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FBR Facilitates Submission of Sales Tax Refund Claims of Multi Tax Periods
Islamabad, October 18, 2023 – The Federal Board of Revenue (FBR) has taken a significant step to ease the process of claiming sales tax refunds for multiple tax periods.
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