KARACHI: Federal Board of Revenue (FBR) has explained requirement of filing income tax returns by persons and corporate entities.
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Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.
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FBR withdraws penalty on seven customs officials
In a significant development, the Federal Board of Revenue (FBR) has withdrawn penalties imposed on seven customs officials, in compliance with judgments from the Federal Service Tribunal (FST) and the Supreme Court of Pakistan.
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Shah Muhammad posted as Member Admin
The Federal Board of Revenue (FBR) has undergone a strategic administrative reshuffle with the appointment of Shah Muhammad, a distinguished officer of the Inland Revenue Service (IRS) BS-21, as the new Member Administration at FBR Headquarters.
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FBR launches Urdu version of Customs Act
Islamabad – The Federal Board of Revenue (FBR) has taken a significant step towards accessibility and transparency by launching the first Urdu version of the Customs Act, 1969.
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ATL-2017 shows 1.824 million active taxpayers
Islamabad – The Federal Board of Revenue (FBR) has reported the receipt of an impressive 1.824 million income tax returns for the tax year 2017 by the week ending February 10, 2019.
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Tax credit for investment in shares, insurance
KARACHI: The tax authorities have allowed tax credit for an individual against investment made in shares and insurance.
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FBR assigns officers for directorate immovable properties
ISLAMABAD: Federal Board of Revenue (FBR) has assigned officers of Inland Revenue Service (IRS) for the duties to make operational the directorate of immovable properties.
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Income Tax Ordinance 2001: Computation of profits, gains from exploration, production of petroleum
KARACHI: The income tax law has explained separately for computation of profits and gains from exploration and production of petroleum in Pakistan.
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Provincial sales tax registered persons liable to pay advance income tax
KARACHI – The Federal Board of Revenue (FBR) has announced that sales tax registered individuals with the provinces are now required to pay adjustable advance income tax, as per the recently updated Income Tax Ordinance, 2001.
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Income Tax Ordinance 2001: payment of advance tax on quarterly basis
KARACHI: Taxpayers are liable to pay advance tax against their estimated annual income on quarterly basis under Income Tax Ordinance, 2001.
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