Hyderabad, November 17, 2024 – In a significant move to combat tax evasion, the Regional Tax Office (RTO) Hyderabad has confiscated a massive quantity of non-duty paid cigarettes.
(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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FBR Reshuffles Cluster of 69 Customs Officers in BS-17 and BS-18
Islamabad, November 16, 2024 – The Federal Board of Revenue (FBR) announced a significant reshuffle within Pakistan Customs Service (PCS) on Saturday, transferring 69 officers in grades BS-17 and BS-18 across various regions of the country. The transfer orders, which were issued on a public holiday, highlight the FBR’s urgency to streamline operations and strengthen the enforcement of anti-smuggling measures.
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What is Tax Penalty for Concealing Income in Pakistan?
Karachi, November 16, 2024 – The Federal Board of Revenue (FBR) has clarified the monetary penalty for individuals found guilty of concealing income under the Income Tax Ordinance, 2001. The FBR’s latest directive aims to strengthen tax compliance and ensure transparency in income declarations.
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FBR Sets Penalty for Misleading Tax Filings and Statements
Karachi, November 16, 2024 – The Federal Board of Revenue (FBR) has announced a monetary penalty structure for individuals found guilty of providing misleading tax declarations to Inland Revenue authorities. The move is part of the FBR’s ongoing efforts to enhance tax compliance and curb fraudulent practices within the tax system.
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FBR Defines New Roles for DG I&I Customs
Islamabad, November 15, 2024 – The Federal Board of Revenue (FBR) has issued new guidelines outlining the functions and jurisdiction of the Directorate General of Intelligence and Investigation (I&I) Customs. The FBR formalized these changes through SRO 1815(I)/2024, released on Friday.
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FBR Directed to Lower Tax Burden on Salaried Class
Islamabad, November 15, 2024 – Minister of State for Finance and Revenue, Ali Pervaiz Malik, has emphasized the need to alleviate the tax burden on salaried individuals by curbing widespread tax evasion in the tobacco industry. Addressing a roundtable on Thursday, he expressed the government’s commitment to reducing income tax for the salaried class, contingent upon the Federal Board of Revenue (FBR) recovering an estimated Rs 300-350 billion lost to non-duty-paid and smuggled cigarettes.
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FBR Shares Collection Strategy with IMF to Sidestep Mini Budget
Islamabad, November 14, 2024 – In a decisive move to meet Pakistan’s ambitious revenue collection target without resorting to a mini budget, the Federal Board of Revenue (FBR) has shared an actionable plan with the International Monetary Fund (IMF). FBR has committed to achieving the 2024-25 revenue target of PKR 12.9 trillion, reinforcing its stance against imposing additional taxation measures.
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FBR to Enforce Shop Closures for Tax Defaults
Karachi, November 13, 2024 – The Federal Board of Revenue (FBR) has announced its plan to enforce strict measures on shopkeepers failing to comply with tax registration and payment requirements under the Income Tax Ordinance, 2001.
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FBR Unveils ePayment 2.0 for Seamless Taxpayer Experience
Islamabad, November 13, 2024 – In a move towards modernizing Pakistan’s tax infrastructure, the Federal Board of Revenue (FBR) launched its latest digital innovation, ePayment 2.0, on Wednesday.
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FBR Reviews Lifting Petroleum Tax Exemption to Address Shortfall
Islamabad, November 13, 2024 – The Federal Board of Revenue (FBR) is contemplating a strategic reversal of the sales tax exemption on petroleum products, potentially introducing a modest 5-7% tax to stabilize fiscal revenues amid a challenging economic landscape.
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