Electronic filing through the IRIS portal remains mandatory, while companies must submit financial statements in a machine-readable format.
(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 makes tax return filing mandatory for wider range of taxpayers for TY 2026
New filing rules extend tax return obligation to property owners, vehicle owners, registered professionals and other specified taxpayers.
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FBR issues three STGOs to ease compliance for iron, steel sector
New sales tax orders support voluntary corporatization, correct registrations, and identify 99 eligible steel manufacturers.
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FBR imposes 10% withholding tax on marriage functions for TY 2027
Advance adjustable tax will apply to weddings, seminars, exhibitions and other events held at designated venues under the updated Income Tax Ordinance.
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One year on, FBR yet to enforce Section 114C restrictions
Absence of implementing rules and government notification keeps high-value transaction restrictions on ineligible persons inoperative.
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FBR warns taxpayers against incorrect Tax Year 2026 returns
Tax authority says inaccurate declarations may trigger scrutiny as IRIS portal opens for annual return filing.
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Small shopkeeper tax scheme raises concerns over hidden tax amnesty
Tax experts say the optional 1% turnover-based regime could create an uneven playing field by offering extensive compliance relief to eligible retailers.
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FBR notifies date for publishing Active Taxpayers List 2026
New ATL will be issued immediately after the income tax return filing deadline under amended Income Tax Rules, 2002.
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Withholding tax rates on phone usage notified for TY 2027
Subtitle: Mobile, internet and prepaid services remain subject to 15% withholding tax, while specified non-filers face a 75% rate under Section 114B.
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Income tax rates on electricity consumption notified for TY 2027
Commercial, industrial and domestic electricity consumers to pay advance income tax under updated Income Tax Ordinance from July 1, 2026.
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