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.
(more…)Tag: FBR
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.
-
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.
(more…) -
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.
(more…) -
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.
(more…) -
NCCPL Sets January 31, 2025, as Deadline for CGT Collection
Karachi, January 24, 2025 – The National Clearing Company of Pakistan Limited (NCCPL) has announced that January 31, 2025, is the deadline for the collection of Capital Gains Tax (CGT) on the disposal of shares for December 2024.
(more…) -
PSW Officially Becomes FBR’s Digital Customs Partner
In an important step toward modernizing customs operations in Pakistan, the Federal Board of Revenue (FBR) has partnered with Pakistan Single Window (PSW) to digitalize customs clearance processes.
(more…) -
Banks Witness Rs862Bn Withdrawals Amid Non-Filer Restrictions
Karachi, January 23, 2025 – Banks in Pakistan experienced a massive withdrawal of Rs 862 billion during December 2024 as the government prepared to impose stringent restrictions on non-filers of income tax returns. This significant outflow highlights the uncertainty and apprehension among account holders in response to impending policy changes.
(more…) -
FBR Fails to Satisfy Senate on Purchase of 1,010 Honda Cars
Islamabad, January 23, 2025 – The Federal Board of Revenue (FBR) has come under fire from the Senate Standing Committee on Finance for failing to provide satisfactory explanations regarding the purchase of 1,010 Honda cars. The committee has now decided to escalate the matter by writing to Prime Minister Shehbaz Sharif and the Ministry of Finance to halt this procurement.
(more…) -
Peshawar Tax Bar Urges FBR for Removal of Password Expiry
Peshawar, January 23, 2025 – The Peshawar Tax Bar Association has called on the Federal Board of Revenue (FBR) to reconsider and remove the mandatory password expiry condition for taxpayer portals. This appeal aims to alleviate the difficulties faced by taxpayers and practitioners in managing their compliance obligations.
(more…) -
FBR Initiates Officer Selection for Cars and Cash Incentives
The Federal Board of Revenue (FBR) has commenced the process of selecting officers from BS-17 and BS-18 ranks for the provision of cars and cash rewards, sources disclosed on Wednesday. This initiative aims to recognize and incentivize officers in the Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) for their contributions under the ongoing transformation plan.
(more…)