Karachi, September 9, 2023 – The Federal Board of Revenue (FBR) has reminded taxpayers of the mandatory requirement to retain records for the past six years for audit purposes.
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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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Principal Appraiser Dismissed from Pakistan Customs Service for Unauthorized Absence
Karachi, September 8, 2023 – A principal appraiser within the Pakistan Customs Service (PCS) has faced a major penalty of dismissal from service due to unauthorized absence from duty.
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FBR Launches Aggressive Initiative to Combat Fake and Flying Invoices
Karachi, September 7, 2023 – The Federal Board of Revenue (FBR) has taken a decisive step to tackle the growing menace of fake and flying invoices, a practice that has been undermining government revenues and integrity in tax administration. This initiative, announced through Sales Tax General Order No. 12 of 2023, outlines a comprehensive plan to confront this issue head-on.
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FBR to Compensate Taxpayers with KIBOR+0.5% Interest for Delayed Income Tax Refunds
Karachi, September 7, 2023 – The Federal Board of Revenue (FBR) in Pakistan has introduced a policy to compensate taxpayers for delayed income tax refunds.
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Caretaker Prime Minister Emphasizes Better Coordination for Tax Documentation
Islamabad, September 7, 2023 – Caretaker Prime Minister Anwaar-ul-Haq Kakar emphasized the need for enhanced coordination between the federal and provincial authorities in the realm of tax documentation.
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FBR Reshuffles 74 Senior IRS Officers in Major Shake-Up
The Federal Board of Revenue (FBR) has embarked on a significant administrative restructuring, unveiling a comprehensive reshuffle involving 74 senior officers within the Inland Revenue Service (IRS).
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Taxpayers Encounter New Challenges in Return Filing: Karachi Tax Bar
Karachi, September 6, 2023 – Taxpayers in Pakistan are grappling with a range of fresh challenges as they attempt to file their annual income tax returns for the tax year 2023.
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Indus Motor Challenges Rs 634 Million Tax Demand in Sindh High Court
Karachi, September 6, 2023 – The Indus Motor Company Limited has taken legal action by challenging a substantial tax demand amounting to Rs 634 million before the Sindh High Court.
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Pakistan Tightens Checks on Petroleum Levy Collection
Karachi, September 5, 2023 – Pakistan has taken significant steps to enhance oversight and control over the collection of petroleum levy, signaling a move towards more transparent and efficient revenue collection in the petroleum sector.
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FBR Reaffirms Tax Exemption for Agriculture Income under Updated Tax Laws
Karachi, September 5, 2023 – The Federal Board of Revenue (FBR) has affirmed that agriculture income is exempted from federal income tax laws in Pakistan.
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