Karachi, November 19, 2023 – The Federal Board of Revenue (FBR) has issued a directive advising taxpayers to maintain comprehensive records of purchases and supplies throughout the tax year 2024.
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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 Launches Sweeping Crackdown Against Non-Filers by Cutting Mobile Phones and Electricity Connections
Karachi, November 18, 2023 – In a major move to enhance tax compliance, the Federal Board of Revenue (FBR) has initiated a significant crackdown against non-filers of tax returns by employing stringent measures, including the disabling of mobile phone and electricity connections, according to official sources on Saturday.
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Citizen Health Initiative Commends Government and FBR in Fight Against Illicit Cigarettes
November 17, 2023: The Citizen Health Initiative (CHI) has applauded the unwavering efforts of the government and the Federal Board of Revenue (FBR) in their campaign to eliminate illicit cigarettes from the country, with a particular focus on cracking down on retailers. The initiative aims to pave the way for a smoke-free nation.
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Government Empowered to Impose Windfall Tax Across Sectors with Section 99D
Karachi, November 16, 2023 –Section 99D of the Income Tax Ordinance, 2001, has granted the federal government the authority to levy an additional tax on windfall profits across various sectors of the economy, according to sources within the Federal Board of Revenue (FBR).
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Pakistan Imposes 40% Tax on Banks’ Windfall Profits, Adding to Financial Burden
Karachi, November 16, 2023 –Pakistan has placed additional tax burdens on banks, introducing a 40% levy on windfall income profits from foreign exchange transactions.
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FBR Initiates Document Verification of BS-16 Customs Officers
Islamabad, November 15, 2023 – The Federal Board of Revenue (FBR) has undertaken the thorough verification of documents submitted by officers in the BS-16 grade of the Pakistan Customs Department.
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Sales Tax Registration Made Mandatory for Various Entities in Tax Year 2024
The Federal Board of Revenue (FBR) has updated the Sales Tax Act, 1990 to make sales tax registration mandatory for various entities during the tax year 2024.
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