The Federal Board of Revenue (FBR) has commenced the recovery of Capital Value Tax (CVT) on motor vehicles for the past five years, despite the fact that the levy was applicable from July 01, 2022.
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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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FTO uncovers fake companies registered with FBR operating since 2008
The Federal Tax Ombudsman (FTO) has recently exposed significant inefficiencies within the tax authorities, revealing the existence of fake companies that have been registered and operating since 2008.
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FBR collects massive Rs138 billion as income tax from banking interest
The Federal Board of Revenue (FBR) in Pakistan has reported a substantial collection of Rs138 billion as income tax from banking interest and returns from government securities.
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FBR Collects Rs2.23 Billion as Capital Value Tax on Foreign Assets
The Federal Board of Revenue (FBR) has successfully collected Rs2.23 billion as Capital Value Tax (CVT) on foreign assets owned by resident individuals.
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Pakistan considers expanding CVT to include all movable assets
Pakistan is contemplating an expansion of the scope of the Capital Value Tax (CVT) to encompass all movable assets, sources said on Wednesday May 17, 2023.
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FBR publishes names of 3.67 million active taxpayers for TY2022
ISLAMABAD – The Federal Board of Revenue (FBR) Monday released the names of 3.67 million active taxpayers who have successfully filed their annual returns for the tax year 2022.
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FBR notifies rules for transit trade between Tajikistan and Pakistan
The Federal Board of Revenue (FBR) on Friday issued SRO 560(I)/2023 to notify rules for implementing transit trade between Tajikistan and Pakistan.
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Regulations imposed on imports for special technology zones
Regulations have been imposed on imports for Special Technology Zones (STZs) by the Federal Board of Revenue (FBR) in an effort to ensure proper management and control over the importation of goods within these zones.
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Pakistan tightens rules on carnet de-passage to prevent misuse
The Federal Board of Revenue (FBR) – the apex tax agency of Pakistan – on Monday issued a new amendment, SRO 533 (I)/2023, aimed at preventing the misuse of carnet de-passage and temporary importation of vehicles by foreigners and expatriate Pakistanis.
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FBR launches evaluation to combat mis-Invoicing of imported goods
The Federal Board of Revenue (FBR) in Pakistan has launched an evaluation process to combat mis-invoicing of imported goods at customs clearance.
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