FBR Warns Taxpayers Over Non-Declaration of Property
Federal Board of Revenue has warned taxpayers of strict legal action for failing to declare property details in income tax returns for tax year 2026.
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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.
Pakistan apex court strikes down tax on deemed property income
ISLAMABAD, May 7, 2026 — Pakistan’s Federal Constitutional Court on Thursday declared the tax on deemed property income unlawful, dismissing appeals filed by the Federal Board of Revenue (FBR) and striking down Section 7E of the Income Tax Ordinance, 2001.
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FBR issues draft income tax return forms for tax year 2026
ISLAMABAD, May 7, 2026 – Pakistan’s Federal Board of Revenue on Thursday issued draft income tax return forms for individuals for tax year 2026 and sought feedback from stakeholders before finalising the forms for the upcoming filing season.
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FBR revises customs values for smart watches imports in Pakistan
ISLAMABAD, May 7, 2026 — The Federal Board of Revenue (FBR) has revised customs values for imported smart watches, smart bands and smart rings in a move aimed at curbing under-invoicing and protecting government revenue.
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FBR sets May 20 deadline for customs clearing agents licence applications
ISLAMABAD, May 6, 2026 — The Federal Board of Revenue (FBR) has invited applications from eligible individuals for the grant of customs clearing agents licences, setting May 20, 2026, as the deadline for submission.
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FBR awards major penalty ‘dismissal from service’ to customs official
ISLAMABAD, May 6, 2026 — The Federal Board of Revenue (FBR) has dismissed a customs official from service on charges of prolonged unauthorized absence, according to an official notification issued on Wednesday.
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FBR Mandates Petroleum Levy Information in Sales Tax Return
ISLAMABAD, May 5, 2026 – The Federal Board of Revenue (FBR) has made it mandatory for registered taxpayers to declare petroleum development levy and climate support levy details in monthly sales tax returns.
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FBR Updates Customs Values for Imported Hand Tools After Nine-Year Hiatus
KARACHI – In a significant move to align import taxes with current international market trends, the Federal Board of Revenue (FBR) has officially revised the customs values for imported hand tools. The new rates come after a nine-year period during which the previous values remained stagnant despite global price fluctuations.
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Senate Seeks Details of FBR Corruption Cases Over Past Five Years
ISLAMABAD, May 5, 2026 – The Senate of Pakistan has sought comprehensive details of corruption cases within the Federal Board of Revenue (FBR) over the past five years.
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FBR Plans Harsh Measures to Overcome Revenue Shortfall
ISLAMABAD, May 4, 2026 – The Federal Board of Revenue (FBR) is preparing to introduce strict enforcement measures to boost revenue collection and reduce the widening shortfall in the ongoing fiscal year.
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