Karachi, December 23, 2024 – The Federal Board of Revenue (FBR) on Monday announced that the Active Taxpayers List (ATL) has grown significantly, reaching 5.83 million for the tax year 2024. The FBR stated that this milestone reflects the number of income tax returns filed by December 22, 2024.
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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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Sales Tax Registered Persons Allowed Input Deduction
Karachi, December 22, 2024 – Registered persons under the Sales Tax Act, 1990, have been permitted to deduct input tax from output tax on supplies made during a tax period. This provision, governed by Section 7 of the Act, aims to streamline the determination of tax liability for registered taxpayers.
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Committee Formed to Develop Taxation Framework for NMDs
Islamabad, December 21, 2024 – Following directives from Prime Minister Shehbaz Sharif, a high-level committee has been formed to devise a comprehensive taxation regime for the Newly Merged Districts (NMDs).
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PM Shehbaz Directs Stern Action Against Tax Evaders
Islamabad, December 21, 2024 – Prime Minister Muhammad Shehbaz Sharif has issued firm directives to authorities to bring tax defaulters into the tax net and enforce strict measures against non-compliance. Presiding over a high-level meeting on Saturday, the Prime Minister reviewed strategies aimed at enhancing revenue collection and bolstering the performance of the Federal Board of Revenue (FBR).
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FBR to Gain Unprecedented Access to Bank Data
Karachi, December 21, 2024 – In a landmark move aimed at tightening tax compliance, the Federal Board of Revenue (FBR) is set to be granted sweeping powers to obtain and cross-check taxpayers’ bank details with the income and assets declared in their returns.
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Only Eligible Persons to Make Financial Transactions in Pakistan
Karachi, December 21, 2024 – The Government of Pakistan has introduced the concept of “eligible persons” for conducting financial transactions in the country. This proposal is part of the Tax Laws (Amendment) Bill, 2024, aiming to streamline financial activity and ensure compliance with tax regulations.
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FBR Issues Work Schedule on Holidays for Tax Offices
Islamabad, December 20, 2024 – The Federal Board of Revenue (FBR) announced an extended work schedule for its tax offices during upcoming weekends in December 2024 to ensure smooth collection of duties and taxes.
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Proposed Tax Amendments to Bolster Cash Economy: Experts
Karachi, December 20, 2024 – Leading tax experts have expressed grave concerns over the proposed amendments to tax laws, warning that these measures could unintentionally drive a significant shift towards a cash-based economy.
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Pakistan Prohibits Bank Cash Withdrawals for Tax Dodgers
Karachi, December 19, 2024 – Pakistan has decided to implement stringent measures to curb tax evasion by prohibiting bank cash withdrawals for individuals who evade taxes.
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FBR Set to Ban Cash Withdrawals by Non-Filers
Karachi, December 18, 2024 – The Federal Board of Revenue (FBR) is poised to introduce a significant change in the banking sector with the potential imposition of a ban on cash withdrawals by individuals who are non-filers of income tax returns.
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