Karachi, October 25, 2023 – The Karachi Tax Bar Association (KTBA) has raised a red flag concerning the misalignment of debt and credit notes within the framework of tax regulations.
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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 Achieves Remarkable 41% Growth in Tax Collection from Salaries in FY23
Karachi, October 25, 2023 – The Federal Board of Revenue (FBR), Pakistan’s premier tax collection agency, has achieved a remarkable 41 percent growth in tax collection from salaries during the fiscal year 2022-23, based on official data.
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FBR and KTBA Deliberate Return Filing Challenges as Deadline Nears
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 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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