Karachi, January 1, 2025 – The Federal Board of Revenue (FBR) issued its updated Active Taxpayers List (ATL) for the tax year 2024, showcasing an impressive 5.89 million active taxpayers.
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The Federal Board of Revenue is Pakistan’s apex tax agency, overseeing tax collection and policies. Pakistan Revenue is committed to providing timely updates on the Federal Board of Revenue to its readers.
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FBR Faces Rs 380 Billion Tax Shortfall in 1HFY25
The Federal Board of Revenue (FBR) faced a substantial revenue shortfall of Rs 380 billion during the first half of the current fiscal year (July-December 2024). The total tax collection amounted to Rs 5,629 billion, falling short of the projected target of Rs 6,009 billion, raising concerns over Pakistan’s fiscal performance.
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FBR to Collect Rs 70 Billion from Banks as Tax Laws Promulgated
Karachi, December 31, 2024 – The Federal Board of Revenue (FBR) is poised to collect an estimated Rs 70 billion from the banking sector after the promulgation of the Income Tax (Amendment) Ordinance, 2024, a significant development aimed at bolstering revenue collection.
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FBR to Discontinue Gas and Electricity on Tax Non-Compliance
Karachi, December 31, 2024 – The Federal Board of Revenue (FBR) has issued a stern warning to individuals and businesses failing to comply with sales tax laws. Non-compliant taxpayers may face the disconnection of their gas and electricity connections under strict provisions of the Sales Tax Act, 1990.
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IHC Rules in Favor of PTA, Fines FBR Deputy Commissioner
Islamabad, December 30, 2024 – The Islamabad High Court (IHC) on Monday ruled in favor of the Pakistan Telecommunication Authority (PTA), granting its petition against the Federal Board of Revenue (FBR) for the improper deduction of an additional amount under the pretext of advance tax.
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FBR Issues Final Call for Corporate Tax Return Filing
Karachi, December 30, 2024 – With the deadline for filing income tax returns rapidly approaching, the Federal Board of Revenue (FBR) has issued a final call for companies to submit their annual income tax returns for the tax year 2024 before December 31, 2024.
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FBR Successfully Completes Phase-1 of FCAS Implementation
Karachi, December 30, 2024 – The Federal Board of Revenue (FBR) has achieved a significant milestone by successfully implementing the first phase of the Faceless Customs Assessment System (FCAS), a move that promises to revolutionize Pakistan’s customs clearance process.
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FBR Highlights Persons Required for Sales Tax Registration
Karachi, December 30, 2024 – The Federal Board of Revenue (FBR) has outlined the categories of individuals and businesses that are mandated to register for sales tax under the Sales Tax Act, 1990. This move is part of the FBR’s ongoing efforts to ensure compliance and expand the tax net.
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FBR Extends Working Hours for December Tax Collection
Karachi, December 30, 2024 – The Federal Board of Revenue (FBR) has announced extended working hours for the collection of duties and taxes for the month of December 2024, in a bid to meet its revenue collection targets.
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Power of Tax Authorities to Modify Orders Under STA 1990
Karachi, December 29, 2024 – Section 11C of the Sales Tax Act (STA), 1990, empowers tax authorities to adjust or modify assessments and orders based on decisions made by higher judicial bodies.
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