Mini Budget Not on Cards
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has ruled out the introduction of a mini-budget, expressing confidence in its ability to meet the revenue target of Rs12.97 trillion for the […]
Latest Tax News
FBR Launches Prize Scheme to Encourage Reporting Unverified Invoices
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has announced a new prize scheme designed to incentivize customers to report unverified invoices issued by large, integrated tier-1 retailers. Customers who shop […]
FBR Introduces New Measures to Combat Tax Evasion
Islamabad, Pakistan: The Federal Board of Revenue (FBR) is implementing new measures to address tax evasion and promote transparency in financial transactions. Reference values for assets: The FBR will establish reference […]
FBR Introduces New Filing Category: Family Tax Returns
The Pakistani government is taking steps to address the concerns of individuals who are not required to file income tax returns. These measures aim to simplify the tax filing process […]
KCCI Urges FBR to Extend Income Tax Return Deadline
Karachi, Pakistan: The Karachi Chamber of Commerce & Industry (KCCI) has urged the Federal Board of Revenue (FBR) to extend the income tax return filing deadline to October 31, 2024. The […]
Finance Minister Announces to Abolish Non-Filer Category
Islamabad, Pakistan: Finance Minister Senator Muhammad Aurangzeb has announced that the government will eliminate the term “non-filers” and impose strict penalties on individuals who fail to declare their income. The government […]
FBR to Crackdown on Unregistered Businesses Starting October 1
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has announced plans to launch a crackdown on unregistered businesses starting October 1. The crackdown will target individuals operating businesses under undisclosed ownership […]
FBR Seeks to Eliminate Non-Filer Category, Implement Strict Measures
Islamabad, Pakistan: The Federal Board of Revenue (FBR) is taking a significant step to eliminate the category of non-filers and mandate all individuals to route transactions through banking channels. This move […]
FBR Seeks Collaboration with Business Community to Address Tax Evasion
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has held a meeting with leading business groups and tax compliant companies to discuss its transformation plan and measures to combat tax evasion. […]
FBR Introduces “Faster” Refund Facility for All Exporters
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has announced a significant improvement for exporters by allowing them to avail sales tax refunds within 72 hours through the “FASTER” system. Effective […]