New tax card sets higher withholding rates for non-ATL importers, with separate rates for commercial imports, pharmaceuticals, EV kits and mobile phones.
(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 seals illegal cigarette unit, seizes Rs211 million goods
Enforcement operation uncovers 12,600kg of raw tobacco and manufacturing equipment allegedly linked to tax evasion.
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FBR dismisses Customs inspector over prolonged unauthorised absence
Lamia Iqbal was removed from service after the FBR found her prolonged absence without sanctioned leave was established by official records.
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PM Shehbaz directs FBR to complete Faceless System rollout by 2027
The first phase of the AI-based tax system is scheduled to begin on October 1, with random case allocation aimed at improving transparency.
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Taxable income above Rs10 million faces 10% surcharge in TY2027
The surcharge applies to individuals and associations of persons, while salaried individuals are specifically exempt under Section 4AB.
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FBR sets monetary penalties for late TY 2026 tax return filing
Taxpayers filing late returns may face daily penalties, although the applicable amount can be reduced for returns submitted within three months.
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EXCLUSIVE: FBR launches large-scale probe into foreign transactions by fund managers, trusts
Tax authorities to scrutinise offshore investments, fund transfers, CRS compliance and financial reporting by identified taxpayers and institutions.
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FBR secretary penalised, increment withheld for three years
Muhammad Umar receives minor disciplinary penalty after inquiry finds negligence in submitting Performance Evaluation Reports, with no financial loss to the government.
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Senate panel seeks FBR report on PTC, tobacco sector amid seized cigarette probe
Senate subcommittee asks FBR and FIA for details on cigarette brands, tax payments and alleged theft of 2,828 seized cartons.
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FBR’s IRIS tax return filing portal goes offline for scheduled maintenance
Tax authority advises taxpayers to complete returns, payments and registrations before scheduled weekend system maintenance.
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