Karachi, July 22, 2023 – In a move aimed at generating additional revenue and streamlining the tax structure, the Federal Board of Revenue (FBR) has announced an enhancement in the sales tax rate for Tier-1 retailers of finished fabrics and articles of textile leather, among other materials.
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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 Takes Major Stride in Tax Reform: Unveils Draft Changes for Harmonization and Simplification
Islamabad, July 22, 2023 – In a significant move towards tax reform, Pakistan has unveiled draft changes to inland tax laws aimed at harmonization and simplification.
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FBR Introduces Method for Payment of Section 7E Tax on Sale and Transfer of Property
Karachi, July 21, 2023 – The Federal Board of Revenue (FBR) has released the method for making tax payments on deemed income under Section 7E of the Income Tax Ordinance, 2001, specifically concerning the sale or transfer of immovable property.
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FBR Imposes Sales Tax on Bulk Goods Sold Under Brand Names and Trademarks
Islamabad, July 21, 2023 – The Federal Board of Revenue (FBR) has taken the decision to apply sales tax on goods supplied under brand names and trademarks.
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World Bank and FBR Review Pakistan Revenue Program, Acknowledge Significant Achievements
Islamabad, July 20, 2023 – The Country Director of the World Bank, Najy Benhassine, and the Chairman of the Federal Board of Revenue (FBR), Asim Ahmad, held a meeting at the FBR Headquarters to evaluate the progress of the Pakistan Raises Revenue (PRR) Program during the last financial year.
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FBR Obliged to Share Large Taxpayers’ Data with IMF
Karachi, July 19, 2023 – The Federal Board of Revenue (FBR) in Pakistan is mandated to share data on the total number of large taxpayers in the country with the International Monetary Fund (IMF).
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Pakistan Introduces Conditional Import Tax on Motor Vehicles for Foreign Diplomats
Islamabad, July 18, 2023 – Pakistan has imposed conditional duties and taxes on the import of motor vehicles by foreign diplomats. The Federal Board of Revenue (FBR) issued SRO 923(I)/2023 on Tuesday, notifying changes to the regime governing the import of motor vehicles by diplomats.
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FBR Plans New Indemnity Bond to Facilitate Exporters
ISLAMABAD: The Federal Board of Revenue (FBR) has unveiled a new indemnity bond for exporters, allowing them to sell or transfer plant machinery, equipment, and apparatus from one Export Facilitation Scheme (EFS) user to another.
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Sales Tax in Pakistan: A Definition for Clarity in Consumption Tax
Karachi, July 18, 2023 – The concept of sales tax has been formally defined under the prevailing tax laws in Pakistan, aiming to bring clarity and precision to the imposition of consumption tax.
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Sales Tax Law Defines Retail Price under Pakistan’s Tax Regulations
Karachi, July 18, 2023 – The Sales Tax Law in Pakistan has unveiled a clear definition of the retail price, bringing much-needed clarity for businesses and consumers.
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