Islamabad – The Federal Board of Revenue (FBR) has unearthed a colossal tax fraud amounting to Rs 78 billion in the collection and deposit of withholding tax on salary income.
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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 Achieves 42.56% of Annual Tax Target in First Half of FY25
Islamabad, January 30, 2025 – The Federal Board of Revenue (FBR) has successfully collected 42.56% of its annual tax target during the first six months of the fiscal year 2024-25, marking a significant improvement in revenue generation.
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FBR Updates Rules for Electronic Sales Tax Invoicing, Integration
Karachi, January 29, 2025 – In a move to streamline the tax system, the Federal Board of Revenue (FBR) has issued new procedures concerning the licensing, issuance of electronic sales tax invoices, and the integration of registered persons into the electronic invoicing system.
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FBR Outlines Digital Tax Audit System for Seamless Compliance
Karachi, January 29, 2025 – The Federal Board of Revenue (FBR) has formally explained the procedural framework for conducting electronic audits (e-audits) of taxpayers under the Sales Tax Act, 1990. This initiative aims to streamline the audit process, enhance transparency, and minimize physical interaction between taxpayers and tax authorities.
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FBR Collects IR Officials’ Data for Rightsizing Initiative
Karachi, January 28, 2025 – The Federal Board of Revenue (FBR) has initiated a comprehensive data collection process for officials serving in the Inland Revenue (IR) department. This move aims to compile and submit detailed records to the high-powered committee overseeing the rightsizing of the federal government.
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How FBR Selects Cases for Sales Tax Audit
Islamabad, January 28, 2025 – The Federal Board of Revenue (FBR) has officially issued the criteria for selecting cases for audit under the Sales Tax laws. These guidelines are outlined in Rule 44A of the Sales Tax Rules, 2006, which details the methodology and procedures for audit selection and conduct.
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FBR Targets Source of Income in Property Transactions
Islamabad – The Federal Board of Revenue (FBR) is intensifying its efforts to ensure transparency in Pakistan’s real estate sector by scrutinizing the source of income used in property transactions. This initiative is aimed at combating tax evasion and fostering accountability within the industry.
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FBR Investigates Dual Nationality of IR Officials
Islamabad, January 27, 2025 – The Federal Board of Revenue (FBR) has initiated a comprehensive process to compile a list of Inland Revenue (IR) officials who hold dual nationality, including the details of their spouses.
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FBR Decodes Mechanism for Adjustment of Input and Output Tax
Karachi, January 27, 2025 – The Federal Board of Revenue (FBR) has unveiled the detailed mechanism for the adjustment of input and output tax under the sales tax laws applicable for the tax year 2025. This mechanism, as outlined in Rule 22 of the Sales Tax Rules, 2006, provides clear guidelines to ensure proper compliance.
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FBR Revises Tax Rates for Property Transactions in 2025
Karachi, January 27, 2025 – The Federal Board of Revenue (FBR) has announced updated withholding tax rates for property transactions applicable during the tax year 2025.
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