Islamabad, Pakistan – Pakistan is facing the prospect of introducing a mini-budget as the Federal Board of Revenue (FBR) struggles to meet its ambitious tax collection targets. The FBR is required […]
The Federal Board of Revenue (FBR) has issued a notification (S.R.O. 1444(I)/2024) empowering Commissioners-IR (Income Tax) to condone time limits for applications related to the Sales Tax Act, 1990. This […]
Karachi, Pakistan – The Federal Board of Revenue (FBR) has imposed a major penalty on Mr. Zulfiqar Ali, an Inspector of Preventive Service, for gross negligence and misreporting in a […]
Islamabad, Pakistan: The privatization of Pakistan International Airlines (PIA) is facing significant hurdles due to conflicting demands from potential buyers and government restrictions imposed by the International Monetary Fund (IMF). Local […]
Islamabad, Pakistan: The Federal Board of Revenue (FBR) is exploring a new proposal to collect advance tax from traders based on their business category. Currently, traders are required to pay […]
Islamabad, Pakistan – The Federal Board of Revenue (FBR) has reported a significant increase in the number of tax return filers for the fiscal year 2023 (FY23), with a 71% […]
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has signed a Memorandum of Understanding (MoU) with the Technology for People Initiative (TPI) of Lahore University of Management Sciences (LUMS) to […]
Islamabad, Pakistan: The Federal Board of Revenue (FBR) has announced the updated withholding tax rates for the tax year 2025, effective from July 1, 2024, to June 30, 2025. These […]
Islamabad, Pakistan – The Federal Board of Revenue (FBR) is intensifying its efforts to achieve a revenue collection target of Rs 1.16 trillion in September 2024, as part of its broader […]
Islamabad, Pakistan: Despite the clear provisions of the Income Tax Ordinance, the Federal Board of Revenue (FBR) Helpline is reportedly providing incorrect information to taxpayers regarding the taxation of capital gains […]