Karachi, November 24, 2024 – The Income Tax Ordinance, 2001, grants tax officials of the Federal Board of Revenue (FBR) the authority to arrest individuals accused of concealing income. Section 203B of the updated ordinance outlines the specific powers and procedures tax officials must follow in such cases.
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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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Offences by Companies, AOPs Under Income Tax Ordinance, 2001
Karachi, November 23, 2024 – The Federal Board of Revenue (FBR) has clarified the provisions regarding offences committed by companies and Associations of Persons (AOPs) under the Income Tax Ordinance, 2001. These offences are detailed in Section 200 of the Ordinance, which outlines the responsibilities and liabilities of individuals associated with such entities when a violation occurs.
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False Tax Statements Could Lead to Two Years in Jail: FBR
Karachi, November 22, 2024 – The Federal Board of Revenue (FBR) has issued a strong warning that making false statements in tax filings could lead to severe legal consequences, including up to two years in prison. This reminder is based on the provisions of the Income Tax Ordinance, 2001, specifically Section 195.
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FBR Outlines Procedure for Reactivating Mobile Phone SIMs
ISLAMABAD: The Federal Board of Revenue (FBR) will automatically provide telecom companies with a list of taxpayers who have filed their income tax returns to facilitate the unblocking of their mobile SIMs.
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FBR Deploys Monitoring Staff at Punjab and Sindh Sugar Mills
Karachi, November 22, 2024 – The Federal Board of Revenue (FBR) on Thursday deployed tax officials at sugar mills located in the Sindh and Punjab provinces to detect tax evasion.
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RTO Islamabad Seals Five Restaurants for Issuing Fake Invoice
The Regional Tax Office (RTO) Islamabad took stern action on Thursday by sealing five prominent restaurants in the city for issuing fake invoices and receipts.
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PM Shehbaz Rewards FBR Officer for Uncovering Tax Fraud
Prime Minister Shehbaz Sharif on Thursday presented a commendatory shield and a prize of Rs 5 million to FBR officer Ijaz Hussain for his role in uncovering a massive sales tax fraud worth trillions of rupees.
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FBR Issues SOP for Penalizing Non-ATL Persons
Karachi, November 21, 2024 – The Federal Board of Revenue (FBR) on Thursday issued a Standard Operating Procedure (SOP) for penalizing persons not appearing on the Active Taxpayers List (ATL). The FBR issued the SOP on the directives of the Federal Tax Ombudsman (FTO) to streamline the process of penalizing non-ATL persons by publishing their names in the Income Tax General Order (ITGO).
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FBR Targets High-Net-Worth Non-Filers for Tax Enforcement
The Federal Board of Revenue (FBR), acting on Prime Minister Shehbaz Sharif’s directive, has unveiled a stringent enforcement plan to target affluent individuals evading taxes. The initiative focuses on unregistered persons, non-filers, and individuals declaring nil income, especially those concealing income or significant assets.
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FBR Announces Normal Working Days for November Saturdays
Islamabad, November 20, 2024 – The Federal Board of Revenue (FBR) announced on Wednesday that the last two Saturdays of November 2024 would be observed as normal working days.
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