Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) is grappling with a significant tax revenue deficit, revealing a shortfall that exceeded Rs 100 billion for October 2024 alone.
(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.
-
New Valuations for Karachi Properties: FBR Issues SRO 1724
Karachi, October 31, 2024 – The Federal Board of Revenue (FBR) has announced new valuations for immovable properties in Karachi, ushering in significant changes to the property landscape with implications for withholding tax collection. Issued under SRO 1724(I)/2024 on October 29, 2024, the updated valuations will take effect on November 1, 2024, and apply to properties spanning Karachi’s residential, commercial, and industrial sectors.
(more…) -
FBR Introduces Real-Time Tax System to Prevent Evasion
Islamabad, October 31, 2024 – The Federal Board of Revenue (FBR) has introduced an advanced Stock Register system via its new Information Center 2.0 platform, enhancing tax compliance and transparency for businesses across Pakistan.
(more…) -
FBR Revises Property Valuations for Lahore with New SRO 1722
Islamabad, October 31, 2024 – The Federal Board of Revenue (FBR) has announced a significant revision in property valuations for Lahore, issuing SRO 1722(I)/2024 on October 29, 2024.
(more…) -
PSO Discloses Billions in Tax Contingencies Amid Ongoing Appeals
Karachi, October 31, 2024 – Pakistan State Oil (PSO) has revealed substantial tax contingencies totaling billions of rupees as of September 30, 2024, according to its latest financial report.
(more…) -
Non-Filers’ Nightmare: FBR Set to Release ATL 2024
The Federal Board of Revenue (FBR) is poised to unveil the Active Taxpayers List (ATL) for 2024, a move that signals a stern warning for non-filers.
(more…) -
FBR Directs Setting Up Day Care Centers by November 1
Islamabad, October 30, 2024 – In a landmark step towards promoting a more inclusive and supportive work environment for women, the Federal Board of Revenue (FBR) has issued directives to establish day care centers across all its field formations by November 1, 2024.
(more…) -
FBR Raises Objections to Khyber Pakhtunkhwa’s 2% Export Cess
Islamabad, October 30, 2024 – The Federal Board of Revenue (FBR) has raised significant concerns over the Khyber Pakhtunkhwa (KP) government’s recent imposition of a 2% Infrastructure Development Cess (IDC) on exports.
(more…) -
FBR Increases Valuation of Immovable Properties Nationwide
Islamabad, October 30, 2024 – In a move aimed at aligning property values with actual market rates, the Federal Board of Revenue (FBR) has revised the valuations of immovable properties across Pakistan, significantly impacting withholding tax collection.
(more…) -
Tax Collection on Cash Withdrawals Drops 15% in Q1 FY2025
Karachi, October 29, 2024 — The Federal Board of Revenue (FBR) reported a 15% decline in tax collection on cash withdrawals in the first quarter (Q1) of the fiscal year 2024-25, highlighting the effects of an aggressive return-filing drive.
(more…)