Karachi, January 22, 2025 – Honda Atlas Cars (Pakistan) Limited has reported an impressive 296% growth in net profit for the quarter ended December 31, 2024, as the company prepares for significant sales to the Federal Board of Revenue (FBR).
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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 Calls for Customs Duty Proposals for Budget 2025-26
Karachi, January 22, 2025 – The Federal Board of Revenue (FBR) has officially invited stakeholders to submit their proposals concerning customs duty adjustments for the upcoming federal budget of 2025-26.
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IRSOA Set to Boycott FBR’s Rating and Reward System
Islamabad, January 22, 2025 – The Inland Revenue Service Officers Association (IRSOA) has announced its firm decision to boycott the recently introduced Rating and Reward System (RRS) by the Federal Board of Revenue (FBR). In a detailed statement, IRSOA strongly urged its members to stand united in rejecting what it deems a deeply flawed and counterproductive initiative.
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LHC Rejects FBR’s Income Tax Reference
In a significant ruling, a division bench of the Lahore High Court (LHC) dismissed an income tax reference filed by a Commissioner Inland Revenue of the Federal Board of Revenue (FBR) under Section 133(1) of the Income Tax Ordinance, 2001.
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FBR Directed to Address Excessive Tax on Electricity Bills
Islamabad, January 21, 2025 – The President of Pakistan has instructed the Federal Board of Revenue (FBR) to take immediate steps to address the issue of excessive taxation on electricity bills, following a significant decision that validates the recommendations of the Federal Tax Ombudsman (FTO).
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Complaints Against FBR Surge 51% in 2024: FTO
Islamabad, January 21, 2025 – The Federal Tax Ombudsman (FTO) reported a significant 51% increase in complaints lodged against the Federal Board of Revenue (FBR) during 2024 compared to the previous year.
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FBR Secures Rs 200 Billion Tax From Property Transactions
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has achieved a monumental milestone by collecting an impressive Rs 200 billion in taxes from immovable property transactions during the tax year 2024. This marks a substantial 30% increase compared to the Rs 153.75 billion collected in the previous tax year, according to official documentation.
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PTA Urges Telecom Consumers to Pay FBR Taxes for Registration
Islamabad, January 21, 2025 – The Pakistan Telecommunication Authority (PTA) has called on consumers to ensure the payment of applicable taxes and duties to the Federal Board of Revenue (FBR) for mobile device registration. The PTA emphasized that only legally registered and compliant devices will be activated for use in Pakistan.
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FBR Updates Rules for Sales Tax Registration
Karachi, January 21, 2025 – The Federal Board of Revenue (FBR) has introduced updated rules for sales tax registration under the Sales Tax Rules, 2006, effective for the tax year 2025. These revisions aim to streamline the registration process and enhance compliance among taxpayers in Pakistan.
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Pakistan Grants Rs 91 Billion Income Tax Exemptions to Foreigners
Karachi, January 21, 2025 – Pakistan has provided a massive income tax exemption amounting to Rs 91 billion to foreign individuals and entities during a single tax year. This move highlights the country’s strategy to attract foreign investment and strengthen international partnerships.
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