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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: Computation of profits, gains from exploration, production of petroleum

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    KARACHI: The income tax law has explained separately for computation of profits and gains from exploration and production of petroleum in Pakistan.

    Written by

    Mrs. Anjum Shahnawaz
    FBR White

  • Provincial sales tax registered persons liable to pay advance income tax

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    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.

    Written by

    Mrs. Anjum Shahnawaz
    FBR White

  • Income Tax Ordinance 2001: payment of advance tax on quarterly basis

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    KARACHI: Taxpayers are liable to pay advance tax against their estimated annual income on quarterly basis under Income Tax Ordinance, 2001.

    Written by

    Mrs. Anjum Shahnawaz
    FBR Blue

  • FBR set to launch Benami law to trace black money

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    ISLAMABAD: Federal Board of Revenue (FBR) is set to make Benami Law operational with strict action to confiscate property if it was held by a person and payment made by another person.

    Written by

    Mrs. Anjum Shahnawaz
    FBR White

  • FBR notifies major reshuffle in IRS; 42 officers transferred

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday announced major reshuffle in Inland Revenue Service (IRS) as 42 officers of BS-17 to BS-20 transferred with immediate effect.

    Written by

    Mrs. Anjum Shahnawaz
    FBR Blue

  • FBR withdraws credit card details on sales through POS

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    KARACHI: Federal Board of Revenue (FBR) has withdrawn requirement of details of credit card holder in case sales made through Point of Sale (POS) of textile and leather sectors under concessionary regime.

    Written by

    Mrs. Anjum Shahnawaz
    FBR White

  • Income Tax Ordinance 2001: taxation on non-resident ship owner, charterer

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    KARACHI: A ship owned or chartered by a non-resident person before leaving any port in Pakistan is required to furnish a return of income.

    Written by

    Mrs. Anjum Shahnawaz
    FBR Blue

  • Provinces to be made part of IMF dialogues on fiscal targets

    ISLAMABAD: The provinces will be made part of ongoing dialogues with International Monetary Fund (IMF) regarding fiscal targets over medium term. This was agreed at the inaugural meeting of the reconstituted 9th National Finance Commission (NFC) was held here on Wednesday. Finance Minister Asad Umar chaired the meeting. The meeting expressed agreement to Finance Minister…

    Written by

    Faisal Shahnawaz
    IMF Pakistan

  • FBR starts receiving real-time sales information from 2,574 outlets of textile, leather sectors

    ISLAMABAD: Around 2,574 outlets of 75 units of textile and leather sectors have started real-time information of their sales to Federal Board of Revenue (FBR), a statement said on Wednesday.

    Written by

    Mrs. Anjum Shahnawaz
    FBR Blue

  • FBR releases 24pc less refunds in seven months amid huge collection shortfall

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    ISLAMABAD: The issuance of refunds by Federal Board of Revenue (FBR) decline by 24 percent yet the net collection for the first seven months witnessed huge shortfall.

    Written by

    Mrs. Anjum Shahnawaz
    FBR White