The Federal Board of Revenue (FBR) has opened its online portal for filing annual income tax returns for the tax year 2024. As the deadline approaches, taxpayers must be aware of the necessary documents to avoid penalties.
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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 Aims to Boost Tax-to-GDP Ratio to 11.50% in Three Years
Karachi, July 21, 2024 – The Federal Board of Revenue (FBR) has set an ambitious target to elevate Pakistan’s tax-to-GDP ratio to 11.50 percent within the next three years. This initiative aims to significantly improve from the current 8.73 percent recorded for the fiscal year 2023-24.
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FBR Adopts AI as Key Tool to Detect Tax Non-Compliance
Karachi, July 21, 2024 – The Federal Board of Revenue (FBR) has adopted artificial intelligence (AI) as a pivotal tool to detect non-compliance in the country’s tax system, according to official sources.
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PM Shehbaz Reveals Rs 800 Billion Tax Refund Fraud Uncovered
Islamabad, July 18, 2024 – Prime Minister Shehbaz Sharif disclosed today that a massive tax refund fraud amounting to Rs 800 billion has been uncovered over the past four months, highlighting the success of the Federal Board of Revenue’s (FBR) digital transformation efforts.
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Finance Act 2024: New FED Rates on Foreign Air Travel
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has announced new Federal Excise Duty (FED) rates for international air travel, as amended through the Finance Act 2024. The revised rates have been in effect since July 1, 2024.
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FBR Issues Tax Rates for Business Individuals and AOPs
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has announced the new tax rates for business individuals and Association of Persons (AOPs) as per the amendments made through the Finance Act, 2024. These updated rates are effective from July 1, 2024, and are applicable for the tax year 2025.
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FBR Notifies Salary Tax Rates Amended via Finance Act 2024
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has officially announced the amended salary tax rates as enacted through the Finance Act, 2024. These revisions are set to take effect from July 1, 2024, and will be applicable for the tax year 2025.
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FTO Directs FBR to Conduct Comprehensive WHT Audit of Banks
ISLAMABAD, July 16, 2024 – The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to conduct a detailed withholding tax (WHT) audit of commercial banks to address potential revenue leakage.
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FBR Says ATL 2023 Gets Over 5 Million Active Taxpayers
ISLAMABAD, July 16, 2024 (PkRevenue.com) – The Federal Board of Revenue (FBR) has announced a significant milestone, revealing that the number of active taxpayers for the tax year 2023 has surpassed 5 million.
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FBR Implements New Withholding Tax Regime for Motor Vehicles
Karachi, July 15, 2024 – The Federal Board of Revenue (FBR) has introduced a new withholding tax regime applicable to the purchase or registration of new motor vehicles, marking a significant shift from the previous tax structure.
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