On May 1, 2023, the Federal Board of Revenue (FBR) announced that more than 30,000 filers had been added to the Active Taxpayers List (ATL).
(more…)Tag: FBR
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.
-
FTO directs revamping tax deregistration of deceased individuals
The Federal Tax Ombudsman (FTO) has taken notice of repeated notices being issued to deceased individuals with zero assets and has instructed the Federal Board of Revenue (FBR) to revamp the deregistration system to prevent this from happening.
(more…) -
FBR offices work on weekly holidays to avoid tax revenue shortfall
KARACHI: The offices of Federal Board of Revenue (FBR) are working on weekly holidays in order to avoid shortfall in tax revenue.
(more…) -
Pakistan mulls relaxing disclosure limit of foreign exchange in local currency
Pakistan is likely to relax the limit to disclose foreign exchange in local currency under tax laws after experiencing a significant depreciation in the local currency over the past few years.
(more…) -
FBR imposes additional tax liability on Meezan Bank
KARACHI: Federal Board of Revenue (FBR) has imposed additional tax liability on Meezan Bank Limited by making changes to deemed assessment order, sources said on Friday.
(more…) -
Tax Laws Allow Arrest Taxpayers in Pakistan for Default
Tax laws in Pakistan have allowed authorities to arrest defaulting taxpayers. This power has is granted under the Income Tax Ordinance, of 2001.
(more…) -
FBR plans to take measures for achieving revenue collection target
Federal Board of Revenue (FBR) is set to take all necessary measures to meet the revenue collection target for the fiscal year 2022-2023.
(more…) -
FBR releases updated ATL, showing increase in active taxpayers to 3.55 million
On April 24, 2023, the Federal Board of Revenue (FBR) released the updated Active Taxpayers List (ATL) based on income tax returns filed up until that date.
(more…) -
Tax Treatment of Foreign Source Income for Residents in Pakistan
Pakistan is a country that attracts a significant amount of foreign investment and remittance flows. As a result, there are many residents in Pakistan who have foreign-source income.
(more…) -
Determining Property Tax in Pakistan: Understanding Fair Market Value
Property taxes are an important source of revenue for governments all over the world, and Pakistan is no exception.
(more…)