Karachi, August 25, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation regarding the computation of taxable income in Pakistan for the tax year 2024-25.
(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.
-
FBR Explains Section 7F for Tax on Builders and Developers
Karachi, August 24, 2024 – Federal Board of Revenue (FBR) has explained Section 7F of Income Tax Ordinance, 2001 regarding tax on builders and developers.
(more…) -
FBR Forms Working Group to Boost FY25 Tax Collection Targets
Islamabad, August 23, 2024 – In a strategic move to enhance tax revenue and meet the fiscal year 2024-25 targets, the Federal Board of Revenue (FBR) has established a new working group comprising officers from both the Inland Revenue Service (IRS) and Pakistan Customs Service (PCS). The announcement was made on Friday through an official notification.
(more…) -
FBR Reviews Tax Valuation Tables Amid Traders’ Concerns
Faisalabad, August 23, 2024 – Muhammad Naeem Mir, the Prime Minister’s Coordinator for the Tajir Dost Scheme, announced on Friday that the Federal Board of Revenue (FBR) is actively reviewing the tax valuation tables in response to concerns raised by traders.
(more…) -
FBR Unveils Deemed Income Tax Rates for TY 2024-25
Karachi, August 23, 2024 – The Federal Board of Revenue (FBR) has announced the deemed income tax rates for the tax year 2024-25, a move that is expected to impact various resident taxpayers across Pakistan. The new rates, which have been outlined in the Income Tax Ordinance, 2001, updated as of June 30, 2024, come into effect under Section 7E of the Ordinance.
(more…) -
FBR Sets Income Tax Rates for Foreign Shipping Operators
Karachi, August 22, 2024 – The Federal Board of Revenue (FBR) has officially set the income tax rates applicable to shipping and air transport services operated by non-resident entities.
(more…) -
FBR Clarifies Tax on Non-Resident Payments for TY 2024-25
Karachi, August 20, 2024 – The Federal Board of Revenue (FBR) has recently outlined the income tax rates applicable to payments made to non-residents during the tax year 2024-25.
(more…) -
FBR Issues Fresh Instructions for Submitting PERs
Islamabad, August 20, 2024 – The Federal Board of Revenue (FBR) has issued fresh instructions for the submission of Performance Evaluation Reports (PERs) for all employees of the Inland Revenue Service and Pakistan Customs Service.
(more…) -
FBR Threatens Disciplinary Action Over Choice Postings
Karachi, August 20, 2024 – The Federal Board of Revenue (FBR) issued a stern warning on Tuesday to its officers, cautioning against the use of influence to secure preferential or “choice” postings within the organization.
(more…) -
FBR Updates Tax on Dividend Income for Tax Year 2024-25
KARACHI, August 20, 2024 – The Federal Board of Revenue (FBR) has announced updated tax rates on dividend income for the tax year 2024-25, as per the amendments made to the Income Tax Ordinance, 2001, updated on June 30, 2024.
(more…)