ISLAMABAD: Pakistan has failed to achieve a double digit tax-to-GDP ratio during past 22 years despite phenomenal growth in revenue collection over the years.
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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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Duty free imports on annual basis jump by 62.5pc: FBR
ISLAMABAD: Duty free imports have jumped by 62.5 per cent on an annual basis, much higher growth comparing dutiable imports, Federal Board of Revenue (FBR) said in a report released recently.
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FBR directives to shopping malls for collecting advance tax on electricity unlawful: KTBA
Karachi Tax Bar Association (KTBA) on Tuesday termed the action of the tax authorities asking shopping malls to collect advance tax on electricity as unlawful.
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Late filers may not get active taxpayers status even after making compliance
ISLAMABAD: Taxpayers filing annual tax returns after due date may not get status of active taxpayers until payment of surcharge to the Federal Board of Revenue (FBR).
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Taxpayers can file annual returns after due date to avoid harsh action
Taxpayers still can file annual tax return for tax year 2022 after expiry of last date in order to avoid harsh action, including imprisonment, for violating the tax laws, officials at Federal Board of Revenue (FBR) said.
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FBR achieves only 77pc of December tax target, blames import compression
ISLAMABAD: Federal Board of Revenue (FBR) has achieved only 77 per cent of assigned tax collection target for the month of December 2022, according to an official statement issued on Saturday.
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KTBA flays notices to taxpayers already audited
Karachi Tax Bar Association (KTBA) has flayed the issuance of audit notices by tax offices to taxpayers, who already selected once for audit in past four years.
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FBR notifies rules for subscribing Pakistan Single Window system
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified rules for subscribing Pakistan Single Window (PSW) system for conducting cross-border trade.
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FBR adopts HS-2022 recommended by World Customs Organization
ISLAMABAD: Federal Board of Revenue (FBR) has adopted harmonized system (HS) – 2022 on the recommendations of the World Customs Organization (WCO).
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KTBA protests advance tax estimates by tax offices, issuance of recovery notices
KARACHI: Tax practitioners have protested making estimates of advance tax by the tax offices and issuing recovery notices to taxpayers in this regard.
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