In response to the high levels of inflation faced by Pakistani citizens, the government is considering increasing the tax exempt income threshold for salaried individuals in the upcoming fiscal year.
(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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Customs classification committee accepts Inland Revenue stance on tea whitener
The Customs Classification Committee has accepted the stance of the Inland Revenue of the Federal Board of Revenue (FBR) regarding the classification of tea whitener.
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FBR adds wheat, sugar and urea in essential items list to combat smuggling
The Federal Board of Revenue (FBR) has recently made an amendment to the Customs Act, 1969, which now includes wheat, sugar, and urea in the list of essential commodities.
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FBR to collect duty and taxes on April 29-30 to compensate for Eid Holidays
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday announced that it will be collecting duty and taxes on April 29th and 30th, 2023, to cover up time lost due to Eid holidays.
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FBR officers face penal action for failure in filing asset declaration
Senior officers of the Federal Board of Revenue (FBR) in Pakistan could face penal action for failing to file their asset declarations.
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President Alvi orders genuine tax refund cannot be refused after late filing claim
President of Pakistan, Dr. Arif Alvi, Sunday ordered that a genuine tax refund cannot be refused even after late filing of a claim.
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FBR and provinces harmonize sales tax on services with new uniform rules
The Federal Board of Revenue (FBR) and provincial revenue authorities in Pakistan have announced the implementation of uniform ‘Place of Provision of Services Rules-2023’ from May 1, 2023, in an effort to harmonize sales tax on services across the country.
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FBR urges citizens to stay informed about their financial transactions
The Federal Board of Revenue (FBR) Friday urged citizens to stay aware of their financial transactions, stating that the board holds records of all major financial activities.
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President Alvi orders FBR to submit report on whistle-blower identity leak
President Dr Arif Alvi has ordered the Federal Board of Revenue (FBR) to explain how the identity of a whistle-blower who reported large-scale tax evasion/fraud by a private limited company was leaked to his employer, resulting in threats to the whistle-blower by the tax-evading company.
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KTBA informs FBR of dysfunctional ATIR following Chairman’s retirement
The Karachi Tax Bar Association (KTBA) has raised concerns regarding the current situation of the Appellate Tribunal Inland Revenue (ATIR) after the superannuation of its previous chairman, Muhammad Waseem Chaudhary.
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