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Tag: FBR

Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.

  • Income Tax Ordinance 2001: Commissioner IR empowered to make assessment for non-compliant taxpayers

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    KARACHI: In a significant move to enhance tax compliance, the Federal Board of Revenue (FBR) has updated the Income Tax Ordinance, 2001, granting Commissioners of Inland Revenue the authority to conduct ‘best judgement assessment’ for taxpayers who fail to file their annual returns and meet their tax obligations. Under Section 121 of the amended ordinance,…

    Written by

    Faisal Shahnawaz
    FBR White

  • Green channel passengers asked to cooperate with customs on examination selection

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    KARACHI – Passengers arriving from abroad and utilizing the green channel at any airport are urged to cooperate with customs authorities, particularly in the case of random or parametric selections for examination.

    Written by

    Faisal Shahnawaz
    pakistan customs

  • Income Tax Ordinance 2001: Notice can not be issued after 180 days for incomplete return

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    KARACHI: A commissioner of Inland Revenue is required to send notice to taxpayers for incomplete annual income returns within 180 days from end of financial year in which return was filed.

    Written by

    Faisal Shahnawaz
    FBR Blue

  • Advance Tax not collected on arbitrary grounds: FBR

    ISLAMABAD — The Federal Board of Revenue (FBR) issued a clarification on Friday to address certain media reports that suggested advance taxes give artificial boost to revenue collection.

    Written by

    Faisal Shahnawaz
    FBR White

  • Schedule for filing annual returns

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    KARACHI — The Federal Board of Revenue (FBR) has issued the schedule for filing the annual income tax return, emphasizing the significance of adhering to the specified deadlines.

    Written by

    Faisal Shahnawaz
    FBR White

  • FBR directs customs officers to join new place of posting immediately

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    ISLAMABAD — The Federal Board of Revenue (FBR) has issued a stern directive to customs officers, warning of departmental action if they fail to comply with their recent transfer orders.

    Written by

    Faisal Shahnawaz
    FBR White

  • Return filers entitled to many reductions, rebate and credits

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    The Federal Board of Revenue (FBR) has released a comprehensive facilitation guide outlining the various tax reductions, rebates, and credits available to income tax return filers.

    Written by

    Faisal Shahnawaz
    PkRevenue_header

  • Requirement of wealth statement

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    The Federal Board of Revenue (FBR) has recently introduced amendments to the Income Tax Ordinance, 2001, shedding light on the requirement for taxpayers to submit a wealth statement alongside their annual income return.

    Written by

    Hamza Shahnawaz
    FBR White

  • FBR identifies undeclared foreign assets of 152,201 Pakistanis

    ISLAMABAD – The Federal Board of Revenue (FBR) of Pakistan has identified 152,201 Pakistani nationals with undeclared assets abroad, according to Mohammad Jehanzeb Khan, the Chairman of FBR.

    Written by

    Faisal Shahnawaz
    FBR White

  • FBR explains inclusion into ATL for availing tax benefits

    ISLAMABAD: Federal Board of Revenue (FBR) has explained the inclusion into Active Taxpayers List (ATL) for availing reduced rates of withholding tax and other benefits.

    Written by

    Faisal Shahnawaz
    FBR White