Feb 1

All shopkeepers to install POS machines: CTO Chief

KARACHI: Dr. Aftab Imam, Chief Commission Inland Revenue, Corporate Tax Office (CTO) Karachi on Tuesday said that installation o Point of Sale (POS) machines to be extended to all types of shopkeepers. Although installation of Point of Sales (POS) machines is currently mandatory for bigger stores/ shops falling under Tier-1 retailers. “But eventually, every shopkeeper […]

by Faisal Shahnawaz

FBR posts 30% growth to collect Rs3.35 trillion

Jan 31

Taxation, Top stories

FBR posts 30% growth to collect Rs3.35 trillion

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs3.35 trillion during the first seven months (July – January) 2021/2022 with a growth of over 30 per cent, a statement said on Monday. The FBR issued provisional numbers of collection made during first seven months of the current fiscal year. The revenue body collected Rs2.571 […]

by Mrs. Anjum Shahnawaz

FBR notifies transfers of BS-17-19 customs officers

Jan 31

Pakistan Customs

FBR notifies transfers of BS-17-19 customs officers

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of officers of Pakistan Customs Service (PCS) in BS-17 to BS-19 with immediate effect until further orders. The FBR notified transfers and postings of following customs officers: READ MORE: FBR transfers BS-18 to BS-20 IRS officers 01. Fahad Ali Chaudhry (PCS/BS-19) has been […]

by Mrs. Anjum Shahnawaz

FBR implements new property valuations on February 01

Jan 30

Taxation, Top stories

FBR implements new property valuations on February 01

ISLAMABAD: The Federal Board of Revenue (FBR) will apply the new valuation tables for immovable properties in major cities of the country from February 01, 2022. The FBR on December 01, 2021 issued fresh and updated valuation tables for around 40 major cities of the country. However, the FBR deferred the implementation of the new […]

by Mrs. Anjum Shahnawaz

FBR invites income tax proposals for budget 2022/2023

Jan 28

Budget 2022-2023, Taxation

FBR invites income tax proposals for budget 2022/2023

The Federal Board of Revenue (FBR) has extended an invitation to stakeholders, including businesses, experts, and the general public, to contribute their insights and proposals for income tax improvements in preparation for the budget of 2022/2023.

by Mrs. Anjum Shahnawaz

Monitoring of GLT plants must to plug tax evasion

Jan 28

Taxation

Monitoring of GLT plants must to plug tax evasion

Experts believe that unchecked tobacco processing in green leaf threshing (GLT) plants is the root cause of massive tax evasion in tobacco sector. “At times when Pakistan is struggling to increase revenue, Government’s indifference towards tax evasion is incomprehensible,” according to an expert. Tobacco industry is one of the five industries which cause a loss […]

by Mrs. Anjum Shahnawaz

Regulatory duty on motor vehicles increased to 50%

Jan 28

Automotive, Taxation, Top stories

Regulatory duty on motor vehicles increased to 50%

In a bid to curb the escalating import bill and foreign exchange outflow, the Federal Board of Revenue (FBR) unveiled a significant surge in regulatory duty on the import of new motor vehicles.

by Mrs. Anjum Shahnawaz

Services tax on forex companies under provincial ambit

Jan 27

Taxation, Top stories

Services tax on forex companies under provincial ambit

Islamabad, January 21, 2024 – The Federal Board of Revenue (FBR) issued a clarification in response to recent news reports, asserting that the tax collection on services provided by foreign exchange companies falls under the jurisdiction of provinces.

by Mrs. Anjum Shahnawaz

FBR issues updated rates of duty, taxes on mobile phones

Jan 26

IT & Telecom, Taxation, Top stories

FBR issues updated rates of duty, taxes on mobile phones

ISLAMABAD: The Federal Board of Revenue (FBR) has issued the updated applicable rates of duty and taxes for clearance of mobile phones. The FBR said that following rate of duty and taxes for the clearance of mobile phones shall be applicable during (2021-2022) (with passport applied within 60 days of arrival in Pakistan): READ MORE: […]

by Mrs. Anjum Shahnawaz

FBR eyes Rs6 trillion collection in current fiscal year

Jan 26

Taxation, Top stories

FBR eyes Rs6 trillion collection in current fiscal year

ISLAMABAD: Dr. Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR) on Wednesday hoped that the revenue collection for the current fiscal year will increase to Rs6 trillion – surpassing the target of Rs5.83 trillion. “Our revenue target is Rs 5.830 trillion which is expected to increase till Rs6 trillion by June 2022. We have collected […]

by Mrs. Anjum Shahnawaz