Karachi, January 20, 2025 – The Federal Board of Revenue (FBR) is intensifying its efforts to boost tax collection and expand the tax base as part of the formulation of the federal budget for 2025-26.
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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 to Incentivize Whistleblowers in Sales Tax Evasion Cases
Karachi, January 20, 2025 – In a move to combat sales tax evasion and promote transparency, the Federal Board of Revenue (FBR) has announced policy to reward whistleblowers who provide credible information leading to the detection of tax fraud, evasion, or corruption.
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New Tax Laws to Abolish Higher Tax Rates on Non-Filers
Islamabad, January 20, 2025 – The National Assembly is set to approve the “Tax Laws (Amendment) Bill, 2024,” which aims to overhaul the taxation regime by abolishing higher withholding tax rates for non-filers.
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FBR Disallows Sales Tax Refund Claims Filed After One Year
Karachi, January 19, 2025 – The Federal Board of Revenue (FBR) has announced that it will no longer entertain claims for sales tax refunds filed beyond a one-year period. This decision, based on Section 66 of the Sales Tax Act, 1990, emphasizes strict adherence to the stipulated time frame for refund claims.
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FBR Acquires 5-Year Data on Car Purchases by Non-Filers
Karachi, January 19, 2025 – The Federal Board of Revenue (FBR) has acquired extensive data on car purchases made over the past five years to initiate a crackdown on individuals with taxable income who have failed to meet their tax obligations.
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Transit Trade Monitoring Debacle: Call for Thorough Probe
The Federal Board of Revenue (FBR) has recently brought grave allegations against a company entrusted with the critical task of monitoring and tracking cargo in transit.
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FBR to Pay Interest at KIBOR for Delayed Sales Tax Refunds
Karachi, January 18, 2025 – The Federal Board of Revenue (FBR) has confirmed its obligation to pay interest on delayed sales tax refunds at the annual Karachi Interbank Offered Rate (KIBOR).
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Sindh Initiates Real-Time Property Transaction Sharing with FBR
Karachi, January 18, 2025 – In a landmark move to bolster transparency and enhance tax compliance, the Sindh province has commenced real-time sharing of property transaction details with the Federal Board of Revenue (FBR).
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FBR Lowers Corporate Tax Rate for Banks to 43%
Karachi, January 17, 2025 – In a major development for Pakistan’s banking sector, the Federal Board of Revenue (FBR) has announced a reduction in the corporate tax rate for banks to 43%, down from the previous 44%. This revised tax rate will take effect for the tax year 2026, commencing on January 1, 2025.
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FBR Formally Issues Azerbaijan-Pakistan Transit Trade Rules
The Federal Board of Revenue (FBR) has officially announced the Azerbaijan-Pakistan Transit Trade Rules 2024, a landmark step towards enhancing bilateral and transit trade between the two nations.
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