Federal Boad of Revenue Archives - Page 2 of 4

IRIS 2.0 Disables Taxpayers from Responding to Audit and Assessment Notices

September 11, 2023January 15, 2024Shahnawaz Akhter

Karachi, September 11, 2023 – A critical flaw within the digital tax infrastructure of IRIS 2.0 has come to light, causing a predicament for taxpayers who find themselves unable to effectively engage with audit and assessment notices.

Caretaker Prime Minister Emphasizes Better Coordination for Tax Documentation

September 7, 2023May 20, 2025Mrs. Anjum Shahnawaz

Islamabad, September 7, 2023 – Caretaker Prime Minister Anwaar-ul-Haq Kakar emphasized the need for enhanced coordination between the federal and provincial authorities in the realm of tax documentation.

FBR Reshuffles 74 Senior IRS Officers in Major Shake-Up

September 6, 2023January 16, 2024Shahnawaz Akhter

The Federal Board of Revenue (FBR) has embarked on a significant administrative restructuring, unveiling a comprehensive reshuffle involving 74 senior officers within the Inland Revenue Service (IRS).

Taxpayers Encounter New Challenges in Return Filing: Karachi Tax Bar

September 6, 2023September 6, 2023Shahnawaz Akhter

Karachi, September 6, 2023 – Taxpayers in Pakistan are grappling with a range of fresh challenges as they attempt to file their annual income tax returns for the tax year 2023.

Indus Motor Challenges Rs 634 Million Tax Demand in Sindh High Court

September 6, 2023September 6, 2023Shahnawaz Akhter

Karachi, September 6, 2023 – The Indus Motor Company Limited has taken legal action by challenging a substantial tax demand amounting to Rs 634 million before the Sindh High Court.

Pakistan Tightens Checks on Petroleum Levy Collection

September 5, 2023September 5, 2023Shahnawaz Akhter

Karachi, September 5, 2023 – Pakistan has taken significant steps to enhance oversight and control over the collection of petroleum levy, signaling a move towards more transparent and efficient revenue collection in the petroleum sector.

FBR Reaffirms Tax Exemption for Agriculture Income under Updated Tax Laws

September 5, 2023September 5, 2023Faisal Shahnawaz

Karachi, September 5, 2023 – The Federal Board of Revenue (FBR) has affirmed that agriculture income is exempted from federal income tax laws in Pakistan.

FBR Provides Explanation for Provision Regarding Consumer Loans

September 4, 2023September 4, 2023Shahnawaz Akhter

Karachi, September 4, 2023 – The Federal Board of Revenue (FBR) has explained the provision related to consumer loans in the updated Income Tax Ordinance, 2001, effective from July 1, 2023.

FBR Surpasses August Collection Target Despite Challenges

August 31, 2023August 31, 2023Mrs. Anjum Shahnawaz

Islamabad, August 31, 2023 – The Federal Board of Revenue (FBR) has defied the odds and delivered a commendable performance in achieving its revenue target for August 2023.

FBR Issues Mandatory Rules for Declaration of Beneficial Owners by Corporate Entities

August 28, 2023August 28, 2023Shahnawaz Akhter

Karachi, August 28, 2023 – The Federal Board of Revenue (FBR) took a significant step on Monday by issuing new rules that make it mandatory for corporate entities to declare their beneficial owners.

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