In a move aimed at expanding the tax base and formalizing the informal economy, the Federal Board of Revenue (FBR) has announced a one-month deadline for the tax registration of shopkeepers and traders.
(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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FBR Issues SRO to Implement Tax Scheme for Small Traders and Shopkeepers
Karachi, March 30, 2024 – The Federal Board of Revenue (FBR) has taken a significant step towards facilitating small traders and shopkeepers with the issuance of SRO 457(I)/2024 to implement the Tajir Dost (Special) Procedure, 2024.
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FBR Announces Conditions for Exporters to Avail Tax Concessions
Islamabad, March 29, 2024 – The Federal Board of Revenue (FBR) announced on Friday the issuance of SRO 456(I)/2024, introducing stringent conditions on exporters aiming to benefit from tax concessions and exemptions under the Export Facilitation Scheme.
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LTO Karachi Achieves Historic Rs 13 Billion Single Tax Recovery
Karachi, March 28, 2024 – In a historic milestone for the Federal Board of Revenue (FBR), the Large Taxpayers Office (LTO) Karachi made biggest-ever tax recovery, amounting to approximately Rs 13 billion, from a taxpayer for defaulting on advance tax payments.
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FBR Declares Full Weekend Revenue Operations for March
Karachi, March 27, 2024 – In a move aimed at bolstering revenue collection efforts, the Federal Board of Revenue (FBR) has declared full working days during the last weekend of March 2024, suspending the usual observance of weekly holidays.
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PM Shehbaz Orders Full Tax Track and Trace Implementation
In a significant move aimed at bolstering tax compliance and curbing illicit activities in various sectors, Prime Minister Shehbaz Sharif has directed the elimination of all legal impediments obstructing the complete activation of the tax track and trace system.
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FBR Records 0.4 Million New Active Taxpayers in March 2024
Karachi, March 25, 2024 – The Federal Board of Revenue (FBR) has announced a significant milestone with the addition of 400,000 new active taxpayers in March 2024.
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FBR Initiates Tax Collection under Tajir Dost Scheme from July 15
Karachi, March 24, 2024 – The Federal Board of Revenue (FBR) will initiate tax collection under the newly proposed Tajir Dost Scheme for small traders and shopkeepers starting on July 15, 2024.
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Business Tax Integration Expanded Across Pakistan
Karachi, March 23, 2024 – Pakistan has taken a significant stride in integrating business enterprises in real-time through its portal for documenting transactions nationwide.
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Retailers Get Relief from Tax Integration in Pakistan
Karachi, March 23, 2024 – The retail sector in Pakistan is set to receive a significant boost as the Federal Board of Revenue (FBR), the country’s apex tax authority, announced a series of incentives aimed at providing relief to retailers from mandatory online integration with tax authorities.
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