Karachi, December 4, 2023 – The Federal Board of Revenue (FBR) has shed light on the fee for technical services during the tax year 2024, updating the Income Tax Rules, 2002.
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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 Unveils Tax Recovery Procedure for Companies in Liquidation During Tax Year 2024
Karachi, December 3, 2023 – In a move to address tax recovery challenges from companies undergoing liquidation, the Federal Board of Revenue (FBR) has issued a comprehensive procedure under the Sales Tax Act, 1990 for the tax year 2024.
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Pakistan Introduces Tax Framework for Non-Resident Royalty Income in Tax Year 2024
Karachi, December 3, 2023 –Pakistan has unveiled a comprehensive tax treatment framework for royalty income earned by non-residents during the tax year 2024.
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FBR Achieves Rs 722 Billion in Revenue from Petroleum Duties and Sales Tax in FY23
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has successfully garnered Rs 722 billion through customs duty and sales tax on the import and supply of petroleum products during the fiscal year 2022-2023.
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FBR Collects Rs 155 Billion in Withholding Tax on Immovable Properties in FY23
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has collected a staggering Rs 155 billion in withholding tax on the sales and purchases of immovable properties during the Fiscal Year 2022-2023.
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FBR Explains Tax Treatment of Foreign-Source Income of Residents in Tax Year 2024
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has explained tax treatment of foreign-source income of residents during tax year 2024.
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FBR Empowered with Real-Time Access to Information and Databases under Sales Tax Law
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has taken a significant leap into the digital age as it gains real-time access to information and databases under the recently updated Sales Tax Act, 1990 for the tax year 2024.
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Building Control Authorities Mandated to Collect 5% Tax Before Approval of Construction Plans
Karachi, December 1, 2023 – In a significant development, provincial building control authorities are now mandated to collect a five percent advance tax before approving building construction plans, as per the updated Income Tax Rules, 2002 for the tax year 2024, issued by the Federal Board of Revenue (FBR).
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FBR Achieves Impressive 30% Tax Collection Growth in 5MFY24
Karachi, December 1, 2023 – The Federal Board of Revenue (FBR) has reported an impressive growth of 30 percent in tax collection during the first five months (July – November) of the current fiscal year 2023-2024.
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FBR Takes Strong Action Against Non-Filer Tax Officials
KARACHI, November 30, 2023 – The Federal Board of Revenue (FBR) has issued a directive to initiate action against tax officials who have failed to file their income tax returns.
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