The Federal Board of Revenue (FBR) has recently introduced amendments to the Income Tax Ordinance, 2001, emphasizing the importance of maintaining accurate records by taxpayers.
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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 issues tax directories of parliamentarians, companies and individuals
ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued tax directories of parliamentarians and general taxpayers including companies in order to public the information about contribution of different segments of taxpayers.
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Classes of taxpayers require sales tax registration
KARACHI: Federal Board of Revenue (FBR) has listed classes of taxpayers, who are required to get sales tax registration to declare their monthly transactions to the tax authorities.
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Income Tax Ordinance 2001: procedure for claiming refund, additional payment for delay
KARACHI: A commissioner of Inland Revenue is responsible for making payment at KIBOR plus 0.5 percent per annum for late payment of income tax refund.
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Income Tax Ordinance 2001: FTR taxpayers not required to file returns
The Federal Board of Revenue (FBR) in Pakistan has introduced a noteworthy amendment, providing substantial relief to taxpayers falling under the Final Tax Regime (FTR).
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FBR launches trial run for online payment through 18 banks
In a significant leap towards modernization and efficiency, the Federal Board of Revenue (FBR) has initiated a pilot run for the collection of duties and taxes through an online payment system in collaboration with 18 prominent banks.
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PM directs harsh action against tax evaders, corrupt tax officials
ISLAMABAD: Prime Minister Imran Khan, on Tuesday, directed tax authorities to take strict measures against tax evaders and corrupt officials within the tax departments. The prime minister issued these directives during a meeting focused on the government’s revenue generation efforts.
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FBR invites income tax proposals for budget 2019-2020
The Federal Board of Revenue (FBR) has taken a proactive step towards fostering collaboration and seeking valuable input from the business community for the upcoming budget 2019-2020.
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Income Tax Ordinance 2001: Commissioner’s power to make provisional assessment
The Income Tax Ordinance, 2001 (ITO 2001) in Pakistan has granted power to the Commissioner to initiate provisional assessments when a person’s concealed asset is impounded by any government agency.
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Procedure for import of motor vehicles into Pakistan
KARACHI: Pakistani nationals residing abroad including dual nationals can import old and used vehicles into Pakistan under three different schemes, according to a guide issued by Federal Board of Revenue (FBR).
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