Karachi, September 16, 2023 – The upgraded return filing portal IRIS 2.0 has faced a series of issues that are making it challenging for taxpayers to fulfill their national duty.
(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 to Impose Penalties on Banks for Non-Provision of Account Holder Details
Karachi, September 15, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by deciding to impose penalties on banks for their failure to provide details of account holders, according to official sources.
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Pakistan Implements Penalty for Cash Payments in Property Purchases
Karachi, September 14, 2023 – Pakistan has taken a significant step towards curbing cash-based transactions in the real estate sector by introducing penalties for cash payments made during property purchases.
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FBR to Impose Penalties on Businesses for Not Displaying Tax Numbers or Licenses
Karachi, September 13, 2023 – The Federal Board of Revenue (FBR) has announced strict measures to ensure that businesses display their National Tax Numbers (NTNs) and tax licenses prominently. Those failing to comply will face financial penalties.
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Tax Return Filing System Operates Seamlessly: FBR
The Federal Board of Revenue (FBR) has forcefully refuted claims circulating on certain social media platforms regarding alleged glitches in its online tax return filing system.
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Record-Breaking 4.6 Million on ATL as FBR Intensifies Hunt for Potential Taxpayers
Karachi, September 11, 2023 – Pakistan’s Active Taxpayers List (ATL) has soared to a remarkable pinnacle, reaching a record-breaking 4.6 million individuals and entities.
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Penalties for Failure in Return Filing by Due Date in Pakistan
Karachi, September 10, 2023 – The Federal Board of Revenue (FBR) in Pakistan has established stringent penalties for individuals, businesses, Associations of Persons (AOPs), and companies that fail to file their annual income tax returns by the due date.
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IR Intelligence Karachi Detains Four in Rs 11.69 Billion Fake Invoices Scam
Karachi, Pakistan – The Directorate of Intelligence and Investigation (IR) in Karachi has made a significant breakthrough by apprehending four individuals involved in a complex inter-province fake sales tax invoice racket. This scam has reportedly caused a staggering loss of Rs. 11.692 billion to the national exchequer.
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FBR Mandates Taxpayers to Retain Records for Six Years for Audit Purposes
Karachi, September 9, 2023 – The Federal Board of Revenue (FBR) has reminded taxpayers of the mandatory requirement to retain records for the past six years for audit purposes.
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Principal Appraiser Dismissed from Pakistan Customs Service for Unauthorized Absence
Karachi, September 8, 2023 – A principal appraiser within the Pakistan Customs Service (PCS) has faced a major penalty of dismissal from service due to unauthorized absence from duty.
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