Islamabad, April 29, 2024 – In a significant development on Monday, the Federal Board of Revenue (FBR) published the names of 4.07 million citizens who have successfully filed their income tax returns, thereby securing their positions on the Active Taxpayers List (ATL) for the tax year 2023.
(more…)Tag: Federal Board of Revenue
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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Pakistan Mulls Mandatory Tax Returns for Agricultural Income
In a move poised to overhaul the taxation system for agricultural income, Pakistan is strongly considering making it mandatory for earners of agricultural income to file their annual tax returns along with wealth statements.
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Ashhad Jawwad Appointed as Member Customs Operations
Islamabad, April 27, 2024 – In a significant move within the Federal Board of Revenue (FBR), Ashhad Jawwad, a seasoned BS-21 officer of the Pakistan Customs Service (PCS), has been appointed as the new Member for Customs Operations.
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FBR Inducts BS-20 Officer as Member IR Policy in Major Reshuffle
Islamabad, April 28, 2024 – In a significant reshuffling that has raised eyebrows across financial and governmental sectors, the Federal Board of Revenue (FBR) has appointed a relatively inexperienced BS-20 officer, Ms. Amna Faiz, as the new Member of Inland Revenue (IR) Policy.
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FTO Orders FBR to Withdraw Petitions After Presidential Directives
In a notable move, the Federal Tax Ombudsman (FTO) has issued directives to the Federal Board of Revenue (FBR) to withdraw all writ petitions filed in high courts that contradict the orders previously issued by the President of Pakistan.
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Finance Minister Reviews Progress on Digitalization of FBR
Islamabad, April 26, 2024 – In a pivotal move towards modernizing Pakistan’s taxation framework, Finance Minister Senator Muhammad Aurangzeb presided over a meeting of the Steering Committee on the Digitalization of the Federal Board of Revenue (FBR) on Friday.
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FBR Removes Twelve Senior Officials from Key Positions
Islamabad, April 26, 2024 – In a significant shake-up within the Federal Board of Revenue (FBR), twelve of its most senior officers have been removed from critical posts across both the Pakistan Customs Service (PCS) and the Inland Revenue Service (IRS).
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OECD Team Evaluates AEOI Safeguards in Pakistan
Islamabad, April 25, 2024 – A high-level assessment team from the Organization for Economic Cooperation and Development (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes concluded a significant two-day onsite visit to Pakistan, rigorously reviewing the country’s implementation of Automatic Exchange of Information (AEOI) protocols, particularly focusing on confidentiality and data safeguards.
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FBR Clarifies Tax Amendments with SRO 350 to Address Queries
Karachi, April 25, 2024 – The Federal Board of Revenue (FBR) has recently elucidated several key amendments to the Sales Tax Rules, 2005, through SRO 350 (I)/2024, aiming to clear up the prevalent ambiguities surrounding these changes.
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Section 7E Creates Discrepancy Among Property Owners
In a surprising turn of events, the implementation of Section 7E of Income Tax Ordinance, 2001, which levies a tax on deemed rental income from land and property, has revealed a stark discrepancy in how tax obligations are being applied to filers and non-filers of tax returns.
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