Islamabad, January 12, 2025 – Prime Minister Muhammad Shehbaz Sharif has announced a reward of Rs 15 million for the team responsible for implementing the innovative Faceless Customs Assessment System, marking a major leap forward in modernizing Pakistan’s customs operations.
(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.
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Government to Make Shopping Difficult for Non-Filers: FBR Chief
Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has announced plans to introduce new legislation aimed at making shopping more challenging for individuals who fail to file their tax returns.
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Sales Tax Act Empowers IR Officers to Arrest and Prosecute
Karachi, January 11, 2025 – The Sales Tax Act, 1990, empowers officers of Inland Revenue (IR) to arrest and prosecute individuals for non-compliance with tax laws, strengthening enforcement mechanisms for tax evasion and fraud.
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How Much You Pay Default Surcharge for Tax Payment Failure?
The Federal Board of Revenue (FBR) has clarified the rates and application of default surcharge for taxpayers who fail to meet their tax payment obligations. This surcharge is governed under Section 34 of the Sales Tax Act, 1990, and applies to both intentional and unintentional delays or errors in tax payments.
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FBR Agrees to Tax Relief on Property Transactions
Islamabad, January 11, 2025 – The Federal Board of Revenue (FBR) has agreed to consider to grant significant tax relief on property transactions, aiming to stimulate the construction and real estate sectors.
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TPL Admits Failure in Providing Satellite Services: FBR
Karachi, January 11, 2025 – The Federal Board of Revenue (FBR) has disclosed that TPL, the company licensed for tracking and monitoring transit cargo, has acknowledged the failure of its satellite services.
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FBR Enhances Tax System with Telecom Data Integration
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has successfully acquired detailed customer data for both pre-paid and post-paid telecom subscribers from all major telecom companies for the fiscal year 2023-24. This significant move is part of FBR’s ongoing effort to integrate third-party databases to enhance data accuracy and improve tax compliance across various sectors.
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Evade Tax, Face 10 Years: FBR Sends Stern Message
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has announced stringent measures against sales tax fraud, including a jail term of up to 10 years for offenders. These penalties are prescribed under the Sales Tax Act, 1990, and aim to curb fraudulent practices that undermine the country’s revenue collection efforts.
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PM Shehbaz Orders Swift Resolution of FBR Legal Cases
Islamabad, January 10, 2025 – Prime Minister Shehbaz Sharif, in a meeting held on Friday, emphasized the need for urgent measures to expedite the resolution of legal cases related to the Federal Board of Revenue (FBR) and its revenue collection efforts. He directed relevant authorities to recruit highly skilled professionals for the appellate tribunals, aiming to clear the backlog of pending cases swiftly.
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FBR Unearths Rs106B Money Laundering in Solar Panel Imports
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has uncovered a massive money laundering scheme amounting to Rs 106 billion, linked to fraudulent practices in solar panel imports. This revelation came after an intensive investigation led by the Post Clearance Audit (PCA), South, a key arm of the FBR.
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