FBR Expands Net with New District Offices Across Pakistan
This ambitious initiative aims to bring 1.5 to 2 million new taxpayers into the net by June 2024, significantly broadening the tax base.
Latest Tax News
The Future of Invoicing is Here: Understanding S.R.O. 1525 (1)/2023
Hold onto your receipts, Pakistani businesses, because a major shift is on the horizon! On November 10th, 2023, the Federal Board of Revenue (FBR) issued notification S.R.O. 1525 (1)/2023, laying […]
FBR New Upgrade of IRIS into IRIS 2.0
IRIS and IRIS 2.0 Iris is a tax filing system developed by Pakistan Revenue Automation Limited (PRAL) for the Federal Board of Revenue (FBR) in Pakistan. It was launched in […]
Buying or Selling? New Tax Rates Shake Up Pakistan’s Real Estate
Get ready for a tax twist on Pakistani property deals in 2024! The government has unveiled new withholding tax rates that favor “good citizens” – those on the Active Taxpayers […]
New Tax Implemented on Functions and Gathering Events in Pakistan
Pakistan’s Finance (Supplementary) Bill 2023 has introduced new taxes to finalize the IMF deal, one of which is the advance tax of 10% on functions and gatherings. This tax was […]
Advance Tax on Buying Property in Pakistan
Purchasing property in Pakistan involves various legal and financial considerations, including advance tax on the transaction. This article focuses on Section 236K of the Income Tax Ordinance (ITO) 2001, which […]
What Documents are Required for Tax Filing 2024?
The documents required for tax filing in Pakistan depend on your filing method (online or paper) and whether you’re an individual or another type of taxpayer. Here’s a breakdown: Online […]
Demystifying Capital Gains Tax in Pakistan for 2024
Understanding capital gains tax is crucial for any investor in Pakistan. This article explores the tax rates applicable in 2024 for capital gains on disposal of securities and immovable property. […]
Pakistan Withdraws Major Tax Credits and Exemptions
Pakistan’s tax landscape has undergone a significant shift with the withdrawal of several previously available exemptions and tax credits. This move aims to boost government revenue and promote fiscal responsibility, […]
Rental Income Tax Rates 2023-24
Owning rental property in Pakistan can be a source of steady income, but it’s important to understand the tax implications.