The Federal Board of Revenue (FBR) has announced that filing an incomplete income tax return could lead to severe penalties, including a fine and up to one year of imprisonment.
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Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.
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FBR to Collect Tax on Value of Motor Vehicles Starting July 1, 2024
Starting July 1, 2024, the Federal Board of Revenue (FBR) will shift its method of collecting advance income tax on motor vehicles.
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FBR Unveils Heavy Penalties for CMOs for Denying SIM Blocking
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has announced stringent penalties on Cellular Mobile Operators (CMOs) for refusing to block SIM cards of non-filers, as part of the newly introduced amendments in the Finance Bill, 2024.
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FBR Introduces New Tax Rates for Late Filers
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has announced new tax rates for late income tax return filers as part of the Finance Bill 2024.
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Income Tax Rates for Salaried and Business Persons Enhanced
Islamabad, June 12, 2024 –Pakistan has increased tax rates for both salaried and business individuals in the newly presented budget for the fiscal year 2024-25.
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FBR Releases Salient Features of FED in Finance Bill 2024
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has unveiled the salient features of the Federal Excise Duty (FED) measures included in the Finance Bill for the fiscal year 2024-25.
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Finance Bill 2024 Introduces Massive Income Tax Measures
Islamabad, June 12, 2024 – The Federal Government of Pakistan has released the Finance Bill for the fiscal year 2024-25, unveiling extensive income tax measures aimed at generating substantial revenue to support the country’s economic needs.
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New Sales Tax Measures under Finance Bill 2024
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a series of new sales tax measures through the Finance Bill 2024.
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Tax to GDP Ratio Projected at 8.9% for FY24: Economic Survey
PkRevenue.com — The Economic Survey of Pakistan 2023-24 has projected a tax to GDP ratio of 8.9 percent for the upcoming fiscal year, reflecting a modest increase from the 8.5 percent recorded in FY 2023. This projection is based on the Federal Board of Revenue’s (FBR) collection performance during the outgoing fiscal year.
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Citizens Rush to File Tax Returns as ATL Grows to 4.54 Million
PkRevenue.com – The number of active taxpayers in Pakistan has surged to 4.54 million for the tax year 2023, driven by concerns over stringent measures by the Federal Board of Revenue (FBR). This significant increase is reflected in the FBR’s weekly Active Taxpayers List (ATL), which accounts for returns filed up to June 9, 2024.
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