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, 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 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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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.
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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.
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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.
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