Karachi, September 15, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by deciding to impose penalties on banks for their failure to provide details of account holders, according to official sources.
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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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Pakistan Implements Penalty for Cash Payments in Property Purchases
Karachi, September 14, 2023 – Pakistan has taken a significant step towards curbing cash-based transactions in the real estate sector by introducing penalties for cash payments made during property purchases.
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Major Reshuffle: FBR Announces Key Transfers and Postings of Senior Customs Officers
Islamabad, September 13, 2023 – The Federal Board of Revenue (FBR) has undertaken a significant reshuffle of senior Customs officers, with immediate effect, in a move aimed at optimizing the management of customs affairs in the country.
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FBR to Impose Penalties on Businesses for Not Displaying Tax Numbers or Licenses
Karachi, September 13, 2023 – The Federal Board of Revenue (FBR) has announced strict measures to ensure that businesses display their National Tax Numbers (NTNs) and tax licenses prominently. Those failing to comply will face financial penalties.
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Tax Return Filing System Operates Seamlessly: FBR
The Federal Board of Revenue (FBR) has forcefully refuted claims circulating on certain social media platforms regarding alleged glitches in its online tax return filing system.
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IRIS 2.0 Disables Taxpayers from Responding to Audit and Assessment Notices
Karachi, September 11, 2023 – A critical flaw within the digital tax infrastructure of IRIS 2.0 has come to light, causing a predicament for taxpayers who find themselves unable to effectively engage with audit and assessment notices.
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Record-Breaking 4.6 Million on ATL as FBR Intensifies Hunt for Potential Taxpayers
Karachi, September 11, 2023 – Pakistan’s Active Taxpayers List (ATL) has soared to a remarkable pinnacle, reaching a record-breaking 4.6 million individuals and entities.
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Penalties for Failure in Return Filing by Due Date in Pakistan
Karachi, September 10, 2023 – The Federal Board of Revenue (FBR) in Pakistan has established stringent penalties for individuals, businesses, Associations of Persons (AOPs), and companies that fail to file their annual income tax returns by the due date.
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IR Intelligence Karachi Detains Four in Rs 11.69 Billion Fake Invoices Scam
Karachi, Pakistan – The Directorate of Intelligence and Investigation (IR) in Karachi has made a significant breakthrough by apprehending four individuals involved in a complex inter-province fake sales tax invoice racket. This scam has reportedly caused a staggering loss of Rs. 11.692 billion to the national exchequer.
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Pakistan authorizes taxmen to enter and search premises for audit
Karachi, September 9, 2023 – Pakistan has granted authorization for tax authorities to enter and search premises for the purpose of conducting audits and assessing individuals liable for taxation.
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