Tag: FBR

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.

FBR launches campaign to ensure return filing by due date

KARACHI: The Federal Board of Revenue (FBR) has launched a campaign to ensure the taxpayers file their annual return of income for tax year 2022 by due date.

The FBR sent emails to registered taxpayers to comply with the mandatory requirement under Income Tax Ordinance, 2001.

“As a responsible citizen, you need to make sure that you file your Income Tax Return every year. This is a moral duty of every Pakistani, FBR prompts you to file your Income Tax Return for Tax Year 2022 today,” according to an email sent to a taxpayer.

READ MORE: FBR promotes 56 Inland Revenue Officers to BS-17

“Filing one’s Income Tax Return is mandatory legal obligation that we must endeavor in order to serve our country better. Let’s join hands for a prosperous and self-reliant Pakistan,” the FBR added.

The FBR reminded the taxpayer that the last date for filing Income Tax Returns for Tax Year 2022 is September 30, 2022.

According to the Income Tax Ordinance, 2001, the taxpayers included salaried persons, business individuals, association of persons (AOPs) and companies other than having account year July to June are required to file the return of income.

READ MORE: FBR transfers six IRS officers of BS-19-20

The corporate entities having financial year July 01 to June 30 are required to file their income tax returns by December 31 every year.

The FBR through SRO 978(I)/2022 dated June 30, 2022 issued income tax return form for tax year 2022 giving statutory time to taxpayers for making compliance in filing of return.

Section 14 of Income Tax Ordinance, 2001, highlighted the categories of taxpayers, who are required to file their annual return of income and wealth statement.

According to Income Tax Ordinance, 2001, class of taxpayers are required to file return of income: — every company;— every person (other than a company) whose taxable income for the year exceeds the maximum amount that is not chargeable to tax under this Ordinance for the year; — any non-profit organization as defined in clause (36) of section 2; — every person whose income for the year is subject to final taxation under any provision of this Ordinance; -Any person not covered by above clauses are also required to file return of income who,—

READ MORE: FBR issues paper return form for tax year 2022

(i) has been charged to tax in respect of any of the two preceding tax years;

(ii) claims a loss carried forward under this Ordinance for a tax year;

(iii) owns immovable property with a land area of five hundred square yards or more or owns any flat located in areas falling within the municipal limits existing immediately before the commencement of Local Government laws in the provinces; or areas in a Cantonment; or the Islamabad Capital Territory;

(iv) owns immoveable property with a land area of five hundred square yards or more located in a rating area;

(v) owns a flat having covered area of two thousand square feet or more located in a rating area;

(vi) owns a motor vehicle having engine capacity above 1000 CC;

(vii) has obtained National Tax Number; or

(viii) is the holder of commercial or industrial connection of electricity where the amount of annual bill exceeds rupees five hundred thousand;

READ MORE: FBR sets up new section for dealing disciplinary cases

(ix) is a resident person registered with any chamber of commerce and industry or any trade or business association or any market committee or any professional body including Pakistan Engineering Council, Pakistan Medical and Dental Council, Pakistan Bar Council or any Provincial Bar Council, Institute of Chartered Accountants of Pakistan or Institute of Cost and Management Accountants of Pakistan; or

(x) is a resident person being an individual required to file foreign income and assets statement under section 116A.

August 28, 2022
FBR promotes 56 Inland Revenue Officers to BS-17

ISLAMABAD: The Federal Board of Revenue (FBR) has promoted 56 officers BS-16 Inland Revenue officers (IROs) to BS-17 as Assistant Commissioner Inland Revenue with immediate effect.

The FBR through a notification issued August 26, 2022 promoted following IROs: (name and place of posting)

01. Tasawar Hussain, Regional Tax Office, Sialkot

02. Wasim Ahad Malik, Corporate Tax Office, Lahore

03. Fazal ur Rehman, Regional Tax Office, Rawalpindi

READ MORE: FBR transfers six IRS officers of BS-19-20

04. Nazir Ahmed Soomro, Regional Tax Office-II, Karachi

05. Nouman Ali Siddiqui, Intelligence & Investigation (IR), Hyderabad

06. Manzoor Ahmed Memon, Regional Tax Office, Hyderabad

07. Muhammad Usman Khan, Corporate Tax Office, Lahore

08. Abdul Rasheed Khan, Corporate Tax Office, Lahore

09. Qaiser Mehmood, Corporate Tax Office, Lahore

10. Aijaz Hussain, Regional Tax Office, Hyderabad

READ MORE: FBR issues paper return form for tax year 2022

11. Athar Jawed Khan, Internal Audit (IR), Karachi (drawing salary from CTO, Karachi)

12. Rizwan Ahmed Kazmi, Regional Tax Office-II, Karachi

13. Waseem Akhtar, Internal Audit (IR), Karachi

14. Muhammad Tahir, Regional Tax Office-II, Karachi

15. Abdul Jalil Khan, Intelligence & Investigation (IR), Karachi

16. Zahid Pervaiz, Regional Tax Office, Faisalabad

17. Mehmood-ul-Hassan, Regional Tax Office, Sargodha

18. Ghulam Shabbir Shaikh, Regional Tax Office, Sukkur

19. Muhammad Shakil, Regional Tax Office-I, Karachi

20. Liaqat Ali Sahu, Regional Tax Office, Sukkur

READ MORE: FBR sets up new section for dealing disciplinary cases

21. Sami Ullah Khan, Regional Tax Office, Sargodha

22. Khalid Hayat, Regional Tax Office, Islamabad

23. Muhammad Nadeem S/o Muhammad Nazir, Corporate Tax Office, Lahore

24. Iqtidar Ahmed, Large Taxpayers Office, Lahore

25. Mastoor Najeeb, Corporate Tax Office, Lahore

26. Malik Riaz Ahmad, Regional Tax Office, Lahore

27. Abdul Waheed, Regional Tax Office, Lahore

28. Tariq Baig, Corporate Tax Office, Lahore

29. Shafqat Ali Arain, Intelligence & Investigation (IR), Hyderabad

30. Syed Shabbir Ahmed Shah, Regional Tax Office, Hyderabad

31. Malik Afzal R. Tiwana, Corporate Tax Office, Karachi

READ MORE: FBR increases customs valuation for Afghan coal by 69%

32. Abdul Lateef Kerio, Regional Tax Office, Hyderabad

33. Ameer Ali Kerio, Regional Tax Office, Hyderabad

34. Ghulam Sarwar, Regional Tax Office-I, Karachi

35. Pir Naveed Ahmed, Regional Tax Office, Sukkur

36. Jamil Ahmed Soomro, Regional Tax Office-II, Karachi

37. Abdul Khalique Jamali, Regional Tax Office, Hyderabad

38. Aftab Ahmed Thallo, Regional Tax Office, Quetta

39. Pir Sharful Haq Quershi, Regional Tax Office, Hyderabad

40. Hussain Bukksh Shahani, Regional Tax Office, Hyderabad

41. Zulfiquar Ali Jamali, Regional Tax Office, Hyderabad

42. Saleem Ahmed Hakro, Regional Tax Office, Sukkur

43. Muhammad Rafique Magsi, Regional Tax Office, Quetta

44. Sultan Ahmed Magsi, Medium Taxpayers Office, Karachi

45. Agha Avais Khan, Regional Tax Office, Sukkur

46. Kashif Ali Shah, Corporate Tax Office, Karachi

47. Irfan Ali Umrani, Regional Tax Office, Rawalpindi

48. Mujahid Hussain Shah, Regional Tax Office, Sukkur

49. Ambrat Rai, Corporate Tax Office, Karachi

50. Syed Tahir Hussain Shah, Regional Tax Office, Sukkur

51. Ashouk Kumar, Regional Tax Office, Hyderabad

52. Sajjad Hussain, Regional Tax Office, Sahiwal

53. Muhammad Hafeez Watto, Regional Tax Office, Bahawalpur

54. Riaz Ahmad S/o Shah Muhammad, Regional Tax Office, Bahawalpur

55. Rab Nawaz, Regional Tax Office, Multan

56. Masood-ul-Hassan, Regional Tax Office, Sahiwal

The FBR said that above named officers are directed to Relinquish/ assume Charge; using online HRMS facility made available at all FBR major field offices or by using IJP login in the respective offices.

The FBR further said that the above named officers if drawing performance allowance/ FBR. Fixed allowance will continue to draw it on their promotion.

August 28, 2022
FBR transfers six IRS officers of BS-19-20

ISLAMABAD: Federal Board of Revenue (FBR) has notified transfers and postings of six officers of Inland Revenue Service (IRS) of BS-19 and BS-20 with immediate effect and until further orders.

The FBR issued notification dated August 26, 2022 of transfers of following officers:

READ MORE: FBR issues paper return form for tax year 2022

01. Adnan Inamullah Khan (Inland Revenue Service/BS-20) has transferred and posted as Commissioner Inland Revenue, Special Zone for Builders and Developers) Regional Tax Office, Islamabad from the post of Commissioner, (WHT) Regional Tax Office, Islamabad.

02. Aftab Alam (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue, (Enforcement-II) Large Taxpayers Office, Lahore from the post of Commissioner Inland Revenue (Appeals-II), Lahore.

READ MORE: FBR sets up new section for dealing disciplinary cases

03. Ahmad Kamal (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Appeals-II), Lahore from the post of Commissioner, (Enforcement-II) Large Taxpayers Office, Lahore.

04. Ms. Tajamal Bilquis (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue, (WHT) Regional Tax Office Islamabad from the post of Commissioner, (North Zone) Regional Tax Office, Islamabad.

05. Arshad Nawaz Chheena (Inland Revenue Service/BS-20) has been transferred and posted as Chief (Revenue Operations) Inland Revenue Operations Federal Board of Revenue (Hq), Islamabad from the post of Commissioner, (Special Zone for Builders and Developers) Regional Tax Office, Islamabad.

READ MORE: FBR increases customs valuation for Afghan coal by 69%

06. Ms. Adeela Yusuf Khan (Inland Revenue Service/BS-19) has been transferred and posted as Commissioner Inland Revenue, (OPS) (North Zone) Regional Tax Office, Islamabad from the post of Director-II, (OPS) Directorate General of Digital Invoicing and Analysis, Islamabad.

The officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting.

READ MORE: Pakistan Customs foils attempt to clear banned items

The above named officers have been directed to send charge Relinquishment/Assumption to FBR immediately after Relinquishment/Assumption of charge for record and further necessary action.

August 28, 2022
FBR issues paper return form for tax year 2022

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday issued a draft paper return form for tax year 2022, which will be filed by individuals other than salaried persons.

The FBR issued SRO 1612(I)/2022 to issue the draft individual paper return for tax year 2022.

According to the SRO, the draft return form has been issued for objections and suggestions from the stakeholders. “Objections and suggestions may be considered by the FBR that are sent within seven days of publication of the draft in the official gazette,” it added.

READ MORE: FBR sets up new section for dealing disciplinary cases

According to the draft for individual paper return for tax year 2022 will be filed by individuals, deriving income under any head other than salary or business.

It is pertinent to mention that the FBR issued the online return form on July 01, 2022 to allow the taxpayers a statutory time period of three months for filing income tax return. The last date for filing income tax return for tax year 2022 is September 30, 2022. By this last date persons including salaried and business individuals, association of persons (AOPs) and corporate taxpayers having special accounting year are required to file the annual return.

READ MORE: FBR increases customs valuation for Afghan coal by 69%

The FBR issued the draft paper return for individuals for filing return for tax year 2022 will give shorter time to the taxpayers falling under this segment.

As per the draft paper return, a taxpayer will require to file wealth statement along with the annual return. The wealth statement requires information regarding precious possession, household effect, cash etc.

READ MORE: Pakistan Customs foils attempt to clear banned items

It also requires persons to declare assets in other name, total assets inside Pakistan and assets held outside Pakistan.

August 26, 2022
FBR sets up new section for dealing disciplinary cases

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday set up a new section for dealing with disciplinary cases of tax officials.

The FBR in an official memo said that in order to ensure proper follow up of all disciplinary cases/Inquiries of Officers (BS-16 and above) of FBR (Hqrs) and IR field formations with a view to ensure timely disposal of such cases, a new Section with the nomenclature of “Discipline/Inquiries” has been created in Admn/HR Wing, FBR (HQ), Islamabad with immediate effect.

READ MORE: FBR increases customs valuation for Afghan coal by 69%

The mentioned Section shall be headed by a Secretary/Second Secretary, who shall report to the Chief (HRM-IR), FBR.

The establishment of the new section is a continuation of the initiatives of the federal government for early disposal of disciplinary cases against the tax officials.

The FBR on August 16, 2022 issued directives of the Prime Minister and circulated the same to the field formation for the compliance.

READ MORE: Pakistan Customs foils attempt to clear banned items

According to the instructions, the FBR chairman advised that as per the directions of the Prime Minister of Pakistan, the Revenue Division / FBR shall strictly comply with the following instructions in all disciplinary proceedings and inquiries initiated against the officer(s)/official(s):-

The appointed Inquiry Officer shall conduct the inquiry proceedings in accordance with the provisions contained in Rule 10 read with Rule 12 of the Civil Servants (Efficiency & Discipline) Rules, 2020. The same shall be completed within sixty (60) days from the date of issuance of the Inquiry Order or within such extended period which the Authority may allow.

READ MORE: FBR imposes major penalty on Customs appraising officer

For ensuring safe custody of record in an inquiry, all Heads of field offices (Directors General / Chief Commissioners / Chief Collectors / Commissioners / Collectors, etc.) of FBR shall retain the relevant case record in safe custody while forwarding the recommendation to initiate disciplinary proceedings against any officer(s)/official(s).

All Heads of field offices will also ensure that relevant record of the case and other related documents are timely provided to the Inquiry Officer or the Inquiry Committee, as the case may be, through the designated Departmental Representative (DR) within seven days from the date of Inquiry Order or within such an extended period which Authority may allow in accordance with the provisions contained in Rule 8 of the Civil Servants (Efficiency & Discipline) Rules, 2020.

READ MORE: Commodities’ illegal movement to be treated as smuggling

Any officer of IRS or PCS (as the case may be) who is given record of the case under intimation to the Board shall be designated as Departmental Representative (DR) who shall perform functions mentioned in Rule 15 of the Civil Servants (Efficiency & Discipline) Rules, 2020.

After receipt of reply to the Show Cause Notice from the accused or in case where no reply is received and affording an opportunity of personal hearing to the accused, the designated Authority notified vide Board’s Notification No. 2788-1R-II/2020 dated 05.01.2021 (copy enclosed) shall decide the case within a period of thirty days as per Civil Servants (Efficiency & Discipline) Rules, 2020.

The directions contained in Board’s Circular entitled “Incentive and Punitive Regime for the Inquiry Officers/Authorized Officers/Authority” circulated vide letter No. 7(6)S.HRM.IR-1/2021/E-dox#186726-R dated 08.11.2021 (copy enclosed) may be complied with in letter and spirit.

August 26, 2022
Tax Return becomes invalid on depriving refund adjustment: PTBA

KARACHI: Pakistan Tax Bar Association (PTBA) has declared that deletion of column to deny refund adjustment made the income tax return invalid.

In a letter sent to Asim Ahmed, Chairman, Federal Board of Revenue (FBR) on Thursday, the PTBA apprised about the burning issue due to which the legal fraternity, taxpayers and other stake holders are very much perturbed that is with regard to deletion of tab previously available in the return to claim “adjustment of earlier refunds against the taxpayer of the current year”.

READ MORE: FBR notifies statutory tax rates for salaried persons

President PTBA Rana Munir Hassain said that the adjustment of refund against the payable tax is a fundamental right of a taxpayer a row for adjustment of earlier refunds before calculating net payable tax was always provided in the return forms.

He said that the proposed draft amendments in Income Tax Rules, 2002 through SRO 820(I)/2022, dated 21^st June, 2022 (regarding draft Income Tax Return for the Tax Year 2022 for Ind/AOP/Cos) was issued in pursuance of section 237(3) of the Income Tax Ordinance, 2001, whereas, the row bearing code 92101 regarding “refund adjustment of other year(s) against demand of the current year was appearing” was provided therein as per past.

READ MORE: FBR slaps additional customs duty at 35% on motor vehicles

Subsequently, after lapse of statutory period of seven days, the final version of the Income Tax Return for the Tax Year 2022 was introduced through SRO.978(I)/2022 dated 30^th June 2022, whereby, part-II-V was added in the Second Schedule, after Part II in the Income Tax Rules, 2002.

In the said final version, in the computation tab, the row as appearing against code 92101 is as under;

“refund adjustment of other year(s) against demand of this year”

The notified return which is part of the rules is now a valid return for all the purposes including deemed assessment order u/s 120(1) of the Ordinance.

Uploaded return electronically on IRIS, presently, having no column for adjustment of refund adjustment of other year(s), cannot be termed as “prescribed form of return” therefore, if filed, will not be a valid return in the eyes of law as under section 114(2)(a) a return is to be furnished in the prescribed form.

READ MORE: Tax exemption granted to donations for PM flood relief fund

It is also pertinent to mention here that the deletion of refund adjustment, row is against the fundamental rights, due process of law, whereas, the taxpayers have been deprived from their legitimate right as guaranteed by the constitution of Islamic Republic of Pakistan.

In the light of the above facts, the apex tax bar urged the FBR chairman to look into the matter personally and take necessary action on priority basis and restore the row “refund adjustment of the other year(s) against demand of this year” enabling the taxpayer and tax fraternity to file their Income Tax Returns for the Tax Year 2022 within stipulated time.

READ MORE: Pakistan raises Regulatory Duty to 100 % on motor vehicle import

August 25, 2022

FBR notifies statutory tax rates for salaried persons

The Federal Board of Revenue (FBR) has notified the statutory rates of income tax for salaried persons during Tax Year 2023.

In order to implement the rate of tax for salaried persons, the FBR issued Income Tax Ordinance, 2001 updated up to June 30, 2022. The following table is enacted for the taxation of salaried taxpayers for the Tax Year 2023:

Taxable Income	Rate of Tax
Up to Rs600,000	0%
Rs600,001 –1,200,000	2.5% of amount exceeding Rs600,000
Rs1,200,001 –2,400,000	Rs15,000 + 12.5% of amount exceeding Rs1,200,000
Rs2,400,001 –3,600,000	Rs165,000 + 20% of amount exceeding Rs2,400,000
Rs3,600,001 –6,000,000	Rs405,000 + 25% of amount exceeding Rs3,600,000
Rs6,000,001 –12,000,000	Rs1,005,000 + 32.5% of amount exceeding Rs6,000,000
Amount exceeding Rs12,000,000	Rs2,955,000 + 35% of amount exceeding Rs12,000,000

The rate of tax in the table above are applicable where the income of an individual chargeable under the head ‘salary’ exceeds seventy-five per cent of his/her taxable income.

It is pertinent to mention that Finance Minister Dr. Miftah Ismail on floor of the House while presenting the federal budget 2022/2023 announced massive relief for salaried persons.

According to the budget speech of the finance minister, the basic threshold of taxable salary is proposed to be enhanced to Rs1.2 million from the Rs600,000 for salaried individuals.

“This would pass tens of billions of rupees benefit to salaried people. This will generate a positive economic cycle whereby this money would get transferred to the businesses as the disposable income of salaried people increases therefore ultimately, the government will benefit through the thriving of the business, the creation of more jobs, and tax revenues in the future,” according to the budget speech.

However, the government withdrew the proposal and revived the exempt income to Rs600,000 while approving the Finance Act, 2022 from the National Assembly.

Haider Ali Patel, former president of Karachi Tax Bar Association (KTBA) in a recent presentation on the Finance Act, 2022 stated that the revised rates in respect of salaried taxpayers had been enacted with the change in maximum rate of tax from 32.5 per cent to 35 per cent.

He stated that the enacted tax rates have taken away the proposed tax relief sought to be provided to the individuals belonging to lower salaried class.

“On the other hand, the tax incidence has been increased considerably for the individuals belonging to higher salary brackets,” he added.

Patel presented the following table provides the increase / decrease in the tax incidence of salaries taxpayers from tax liability of the tax year 2022 to tax year 2023 and also the tax liability calculated as per the proposed Finance Bill, 2023:

August 24, 2022

FBR slaps additional customs duty at 35% on motor vehicles

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed additional customs duty at the rate of 35 per cent on import of motor vehicles under various HS Codes.

The FBR issued SRO 1572(I)/2022 dated August 22, 2022 to notify amended rates of additional customs duty on import of various items. Through the instant SRO, the revenue body amended SRO 967(I)/2022 dated June 30, 2022.

According to the latest SRO 1572(I)/2022, the FBR said thirty-five per cent additional customs duty on vehicle falling under PCT codes 8703.2323, 8703.2329, 8703.2490, 8703.3223, 8703.3225, 8703.3229, 8703.3390 and 8703.9000.

The FBR said that the notification would take effect on and from August 22, 2022 till 21^st day of February 2023.

Through previous SRO 967(I)/2022 the additional customs duty was imposed at 2 per cent on cars, jeeps, light commercial vehicles in CKD condition exceeding 1,000 CC and heavy commercial vehicles in CKD condition.

The FBR imposed the additional customs duty in order to discourage luxury imports into the country in order to save foreign exchange.

It is worth mentioning that the government on May 19, 2022 through imposed a complete ban on import of luxury and non-essential items in order to stop depletion in foreign exchange reserves as well as stop free fall in rupee value.

READ MORE: Pakistan lifts ban on import of cars, phones, luxury items

However, on August 20, 2022, the government reversed its decision and allowed import of luxury and non-essential items despite the fact the foreign exchange reserves were declined drastically and the rupee value also registered massive fall against the US dollar.

Alternate to allowing import of luxury and non-essential items, the government increased regulatory duty and additional customs duty on import of various goods.

READ MORE: Pakistan raises Regulatory Duty to 100 % on motor vehicle import

August 24, 2022
Tax exemption granted to donations for PM flood relief fund

ISLAMABAD: The federal government on Tuesday granted tax exemptions to donations made for Prime Minister’s Flood Relief Fund 2022.

The Federal Board of Revenue (FBR) issued SRO 1590(I)/2022 dated August 23, 2022 to exempts deduction of tax under various provisions of Income Tax Ordinance, 2001.

According to the SRO an amendment has been made into Part 1 of the Second Schedule of the Income Tax Ordinance, 2001 that any income derived from The Prime Minister’s Flood Relief Fund, 2022 has been exempted from income tax with effect on and from August 5, 2022.

Furthermore, an amendment has been made to Part IV of the Second Schedule under which minimum tax under Section 113 of the Income Tax Ordinance, 2001 shall not apply to the flood relief fund.

In the same part of the schedule a new clause 120 has been inserted under which Section 151 related to profit from debt shall not apply to the relief fund with effect on and from August 5, 2022.

It further said that the provisions of Section 236 of Income Tax Ordinance, 2001 shall not apply on the amount donated through SMS to the Prime Minister’s Flood Relief Fund, 2022 with effect on and from August 5, 2022.

The FBR issued another SRO 1589(I)/2022 dated August 23, 2022, under which the federal government exempted the federal excise duty leviable on any donation received in Prime Minister’s Flood Relief Fund, 2022. “The notification shall take effect on and from August 5, 2022,” the FBR added.

The Finance Division on August 5, 2022 issued a notification to establish Prime Minister’s Flood Relief Fund 2022.

According to the notification: “It has been decided to establish / open with immediate effect a Fund to be known as ‘Prime Minister’s Flood Relief Fund 2022’ for collective national effort to meet the challenge of providing relief and rehabilitation to the affected population due to excessive rains and floods across the country.

It said that all proceeds and payments for the fund will be received at all branches of State Bank of Pakistan (SBP), all treasuries and branches of National Bank of Pakistan (NBP) and all other scheduled banks.

The fund may receive donations from both domestic, international donors and contributions from abroad which will be received at all the branches of above referred banks where such branches are existing. In other foreign countries contributions will be received at Pakistan missions and remitted to the State Bank of Pakistan which would prescribe necessary procedure for their accounting.

August 23, 2022
Pakistan raises Regulatory Duty to 100 % on motor vehicle import

Pakistan has increased the regulatory duty on imported motor vehicles from 90% to 100%. The decision, communicated through the issuance of SRO 1571(I)/2022 by the Federal Board of Revenue (FBR), comes as part of the government’s efforts to stabilize the balance of payments and manage the outflow of foreign exchange.
(more…)

August 23, 2022