Karachi, September 11, 2024 – The Federal Board of Revenue (FBR) has announced that education expenses will continue to be deductible against income tax liability for the tax year 2024-25.
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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 Issues Withholding Tax Card for Car Purchase in TY 2024-25
Karachi, September 11, 2024 – The Federal Board of Revenue (FBR) has announced the withholding tax rates for car purchases in the tax year 2024-25, with updated guidelines regarding the tax rates applicable to individuals on the Active Taxpayers List (ATL) and non-ATL individuals.
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Customs Preventive Officer Awarded Major Penalty for Misreporting
Karachi, September 11, 2024 – The Federal Board of Revenue (FBR) has imposed a major penalty on Mr. Zulfiqar Ali, an Inspector of Preventive Service, for gross negligence and misreporting in a transit trade consignment.
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FBR Allows Zakat Deduction Against Income Tax Liability
Karachi, September 10, 2024 – In a significant development for taxpayers, the Federal Board of Revenue (FBR) has announced that individuals will be allowed to deduct Zakat payments against their income tax liability for the tax year 2024-25.
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FBR Updates Tax Rates on Prize Bonds for Tax Year 2024-25
Karachi, September 9, 2024 – The Federal Board of Revenue (FBR) has revised the withholding income tax rates on winnings from prize bonds for the tax year 2024-25.
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Pakistan Income Under International Treaty to Remain Tax Exempt
Karachi, September 9, 2024 – The Federal Board of Revenue (FBR) has reaffirmed that income sourced in Pakistan under international tax treaties will remain exempt from taxation.
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Unverified Practitioners Threaten Taxpayers Data Security
Karachi, September 9, 2024 – As the deadline for filing income tax returns for the tax year 2024 approaches, the growing presence of unverified tax practitioners on social media platforms poses a significant threat to taxpayers’ data security.
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FBR Adds 2.2 Million Active Taxpayers to ATL 2023
Karachi, September 9, 2024 – The Federal Board of Revenue (FBR) has achieved a significant milestone by adding 2.2 million new taxpayers to the Active Taxpayers List (ATL) for the year 2023.
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FBR Pushes Rs 1.16 Trillion Collection to Avert Mini-Budget
Islamabad, September 9, 2024 – The Federal Board of Revenue (FBR) is aiming to achieve a revenue collection target of Rs 1.16 trillion in September 2024, as part of an urgent effort to meet its monthly and quarterly tax goals.
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FBR Notifies Tax Rates for Rental Income on Immovable Property
Karachi, September 8, 2024 – The Federal Board of Revenue (FBR) has announced updated withholding tax rates on income from rent of immovable property for the tax year 2024-25.
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