Karachi, November 9, 2024 – The Federal Board of Revenue (FBR) has released draft amendments under SRO 1789 (I)/2024 to streamline the inter-port movement of international transshipment cargo within Pakistan.
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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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CIR Barred from Auditing Tax Records Beyond Six-Year Limit
Karachi, November 9, 2024 – Pakistan’s Income Tax Ordinance, 2001, have set a definitive limit on how long the Commissioner Inland Revenue (CIR) may demand audit records from taxpayers. As per the latest update for the tax year 2024-25, Section 177 stipulates that the CIR may only request records for audit within six years from the end of the relevant tax year.
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FBR Uses Online Data of 28 Departments to Find New Taxpayers
Karachi, November 9, 2024 – The Federal Board of Revenue (FBR) is now getting real-time data from 28 different departments to help find new taxpayers. This data-sharing partnership includes agreements with these organizations, allowing important information to be transferred directly to the FBR.
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FBR Transfers 59 Customs Officers in Strategic Reshuffle
In a major move aimed at strengthening the functioning of Pakistan Customs Service (PCS), the Federal Board of Revenue (FBR) on Friday announced the transfers and postings of 59 officers across various key positions from BS-17 to BS-20. The sweeping reshuffle, which affects both senior and mid-career officers, is part of a broader restructuring strategy under the leadership of the newly appointed FBR chairman.
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FBR Transfers 140 IRS Officers in Sweeping Overhaul
In a sweeping overhaul, the Federal Board of Revenue (FBR) on Friday announced the transfer and reassignment of 140 Inland Revenue Service (IRS) officers across several critical roles. The large-scale reshuffle includes officers in grades BS-17 through BS-20 and is viewed as a strategic move aimed at bolstering revenue generation and addressing the department’s ongoing fiscal challenges.
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IR Officers Scrutinize Importers for Gaps in Declarations
Karachi, November 8, 2024 – Officers from the Inland Revenue (IR) department have begun closely examining importers for discrepancies between the declared values at the Customs stage and the amount of duties and taxes paid.
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Tax Officials Empowered to Enter Taxpayers’ Premises
Tax officials in Pakistan have been granted the authority to enter the premises of taxpayers for conducting audits or surveys, according to the Federal Board of Revenue (FBR).
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FTO Reports 67% Surge in Taxpayer Complaints Against FBR
The Federal Tax Ombudsman (FTO) Secretariat has reported a dramatic 67% increase in taxpayer complaints filed against the Federal Board of Revenue (FBR) this year, reflecting rising dissatisfaction and a renewed commitment to transparency within Pakistan’s tax administration.
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FBR Urged to Clarify Property Rebate Valuations in Karachi
Karachi, November 6, 2024 – The Federal Board of Revenue (FBR) is under mounting pressure to clarify its recent changes to Karachi property valuation guidelines, which appear to remove previously allowed rebates on certain property classifications. This call for clarity stems from concerns over the sudden elimination of rebates that were available under prior notifications, causing uncertainty among property owners and potential investors.
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FBR Starts Registration of 1.35 Million Potential Taxpayers
Karachi, November 6, 2024 – In a decisive move to bolster Pakistan’s tax base, the Federal Board of Revenue (FBR) has launched the registration of over 1.35 million potential taxpayers as part of its broadening of the tax base (BTB) initiative.
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