Karachi, August 25, 2023 – In a significant development, the Federal Board of Revenue (FBR) has taken decisive action against corruption within its ranks by dismissing three customs officials for their involvement in a major clearance scam.
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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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FBR to Treat Speculation Business Separately for Tax Imposition
Karachi, August 24, 2023 – In a significant development, the Federal Board of Revenue (FBR) has announced that it will now treat speculation business as a distinct entity for tax purposes.
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FBR Affirms Profits and Gains as Constituent of Business Income for Taxation
Karachi, August 23, 2023 – The Federal Board of Revenue (FBR) has confirmed that profits and gains arising from any business activity will be considered a component of an individual’s income for tax purposes.
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Understanding Income from Property and Taxation in Pakistan
Karachi, August 23, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently issued an updated version of the Income Tax Ordinance, 2001, shedding light on how to determine income from property in the country.
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FBR Seizes Large Quantity of Cigarettes from Leading Manufacturer for Tax Violations
Islamabad, August 22, 2023 – In a significant crackdown on tax law violations, the Federal Board of Revenue (FBR) has seized a substantial quantity of cigarettes from a prominent manufacturer.
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FBR Notifies Rules to Fully Implement Pakistan Single Window
Islamabad, August 22, 2023 – In a significant move towards streamlining trade processes and enhancing compliance, the Federal Board of Revenue (FBR) has issued a notification to enforce the Pakistan Single Window (PSW) system for all government agencies.
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Number of Active Taxpayers in Pakistan Reaches Record High at 4.43 Million
Islamabad, August 21, 2023 – In a significant milestone for Pakistan’s revenue collection efforts, the Federal Board of Revenue (FBR) has announced that the number of active taxpayers in the country has reached a record high of 4.43 million.
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Salary Taxation in Pakistan: FBR Issues Updated Guidelines
Islamabad, August 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently released an updated structure of taxation on salary income, with the new regulations coming into effect on July 1, 2023.
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FBR Sets Heavy Penalties for Income Concealment
Karachi, August 20, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards promoting tax transparency and accountability by prescribing penalties for the concealment of income.
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Pakistan Issues Income Tax Rates for Foreign Shipping and Air Transport
Karachi, August 19, 2023 – Pakistan has officially released the income tax rates applicable to foreign shipping and air transport for the tax year 2023-24, which commenced on July 1, 2023.
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