Karachi, September 27, 2023 – The Federal Board of Revenue (FBR) is contemplating an extension of the deadline for filing income tax returns for the tax year 2023, following a surge in complaints from taxpayers grappling with technical difficulties in the online filing process.
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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 and Germany Initiate Renegotiations to Eliminate Double Taxation
Islamabad, September 26, 2023 – Pakistan and Germany have taken significant steps toward strengthening their economic ties by initiating renegotiations on the Agreement for the Elimination of Double Taxation.
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FBR Exempts Categories of Taxpayers from Tax Return Filing
Karachi, September 26, 2023 – The Federal Board of Revenue (FBR) has announced that certain categories of taxpayers are exempt from filing annual income tax returns for the tax year 2023.
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Pakistan Sets New Record with 4.72 Million Income Tax Returns
Islamabad, September 25, 2023 – Pakistan has reported a record-breaking number of 4.72 million income tax returns for the tax year 2022, as per official data released on Monday.
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FBR Updates SOP for Processing FTO Cases
Karachi, September 25, 2023 – The Federal Board of Revenue (FBR) has introduced updates to the Standard Operating Procedure (SOP) governing the processing of cases involving the Tax Ombudsman.
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FBR Mandates Companies to Deduct 10% Withholding Tax on Issuance of Bonus Shares
Karachi, September 24, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by directing companies to implement a 10 percent withholding tax on the issuance of bonus shares. This move comes as part of the government’s efforts to enhance tax collection and revenue generation.
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FBR Directs Tax Offices to Ensure September Collection by 28th Due to Eid Milad-un-Nabi
Islamabad, September 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has issued a directive to all tax offices, including Large Taxpayers Offices (LTOs), Medium Taxpayers Office (MTO), Corporate Tax Offices (CTOs), and Regional Tax Offices (RTOs), to ensure the collection of taxes for September 2023 by the 28th of the month. This move is in consideration of the celebration of Eid Milad-un-Nabi, which falls on Friday, September 29, 2023.
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Citizens Risk Losing Electricity Connection for Failing to File Annual Tax Returns
Karachi, September 21, 2023 – Citizens in Pakistan may face disconnection of their electricity connection for failing to file their annual income tax return for the tax year 2023, according to sources within the Federal Board of Revenue (FBR).
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KTBA Chooses Not to Seek Date Extension Despite Return Filing Portal Issues
Karachi, September 21, 2023 – The Karachi Tax Bar Association (KTBA) has made the decision not to request an extension of the deadline for tax return filing, despite encountering glitches and issues on the online portal provided by the Federal Board of Revenue (FBR).
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Citizens May Face Prison Sentences for Tax Offenses in Pakistan
Karachi, September 20, 2023 – In a stern warning to citizens, the Federal Board of Revenue (FBR) announced that individuals may face at least one year in prison for various tax offenses.
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