Karachi, January 27, 2025 – The Federal Board of Revenue (FBR) has announced updated withholding tax rates for property transactions applicable during the tax year 2025.
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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 Defends Plan to Buy 1,010 Cars Amid Corruption Allegations
The Federal Board of Revenue (FBR) has reaffirmed its contentious decision to procure 1,010 Honda vehicles for its officers, sparking intense criticism from the Senate Standing Committee on Finance.
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FBR Updates Rules for Sales Tax Suspension Process
Karachi, January 26, 2025 – The Federal Board of Revenue (FBR) has directed its field tax offices, including Large Taxpayers Offices (LTOs) and Regional Tax Offices (RTOs), to adopt a standardized approach for the suspension and blacklisting of sales tax registered persons. These directives aim to ensure uniformity in compliance with Rule 12 of the Sales Tax Rules, 2006, and Section 21(2) of the Sales Tax Act, 1969.
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FBR Deactivates Affidavit Requirements for Sales Tax Returns
Karachi, January 25, 2025 – The Federal Board of Revenue (FBR) has officially deactivated the mandatory affidavit requirement for filing sales tax returns, a move aimed at simplifying compliance for businesses.
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FBR Unveils Procedure for Updating Sales Tax Registration Details
Karachi, January 25, 2025 – The Federal Board of Revenue (FBR) has announced a streamlined procedure for modifying sales tax registration details under Rule 7 of the Sales Tax Rules, 2006. Businesses can now easily update their registration information to ensure compliance and avoid any potential legal complications.
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Massive Bank Withdrawals Amid Looming Tax Restrictions
In December 2024, Pakistan witnessed a staggering Rs 862 billion in bank withdrawals, highlighting a rising wave of uncertainty among account holders.
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Aurangzeb Assures Transparency in FBR’s Purchase of 1,010 Cars
Islamabad, January 24, 2025 – Finance Minister Muhammad Aurangzeb on Friday reaffirmed the transparency and integrity of the Federal Board of Revenue’s (FBR) procurement of 1,010 vehicles.
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New FBR Declaration Tightens Grip on Commercial Importers
Islamabad, January 24, 2025 – The Federal Board of Revenue (FBR) has intensified its oversight of commercial importers by introducing a new declaration requirement under the Sales Tax Laws, as part of its ongoing efforts to enhance tax compliance.
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FBR Grants Tax Exemption of Rs 57 Billion on Agriculture Income
Karachi, January 24, 2025 – The Federal Board of Revenue (FBR) has announced a significant tax exemption worth Rs 57.52 billion for agriculture income in the tax year 2023, according to an official report released by the Board.
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FBR Clarifies Temporary Sales Tax Registration Process
Karachi, January 24, 2025 – The Federal Board of Revenue (FBR) has issued a detailed explanation of the temporary sales tax registration process, which is already defined under Rule 5A of the Sales Tax Rules, 2006.
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