Pakistan is contemplating an expansion of the scope of the Capital Value Tax (CVT) to encompass all movable assets, sources said on Wednesday May 17, 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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FBR publishes names of 3.67 million active taxpayers for TY2022
ISLAMABAD – The Federal Board of Revenue (FBR) Monday released the names of 3.67 million active taxpayers who have successfully filed their annual returns for the tax year 2022.
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FBR notifies rules for transit trade between Tajikistan and Pakistan
The Federal Board of Revenue (FBR) on Friday issued SRO 560(I)/2023 to notify rules for implementing transit trade between Tajikistan and Pakistan.
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Regulations imposed on imports for special technology zones
Regulations have been imposed on imports for Special Technology Zones (STZs) by the Federal Board of Revenue (FBR) in an effort to ensure proper management and control over the importation of goods within these zones.
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Pakistan tightens rules on carnet de-passage to prevent misuse
The Federal Board of Revenue (FBR) – the apex tax agency of Pakistan – on Monday issued a new amendment, SRO 533 (I)/2023, aimed at preventing the misuse of carnet de-passage and temporary importation of vehicles by foreigners and expatriate Pakistanis.
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FBR launches evaluation to combat mis-Invoicing of imported goods
The Federal Board of Revenue (FBR) in Pakistan has launched an evaluation process to combat mis-invoicing of imported goods at customs clearance.
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Pakistan may target banks for additional tax revenue
The Pakistani government is facing a significant shortfall in its revenue target for fiscal year 2023, prompting analysts to suggest that the banking sector could be a prime target for additional taxation levies.
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IRS officers shuffled as FBR struggles to meet tax collection targets
The Federal Board of Revenue (FBR) Friday May 05, 2023 announced a major reshuffle of officers in the Inland Revenue Service (IRS) from BS-17 to BS-20, citing the need to improve tax collection efforts.
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Sunset clause expires, RD on vehicle, mobile phone automatically withdrawn: FBR
The Federal Board of Revenue (FBR) recently made an announcement stating that the notification for imposing regulatory duties (RD) on the import of vehicles and mobile phones had a sunset clause that expired on March 31, 2023.
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FBR intensifies operations against sugar smuggling
The Federal Board of Revenue (FBR) is taking steps to prevent sugar smuggling and ensure sufficient availability in the domestic market.
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