FBR
ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline for filing sales tax and federal excise returns until March 27, 2025, to facilitate taxpayers. According to an official notification, the deadline for submitting returns for February 2025, originally set for March 18, 2025, has been extended by nine
FBR
Federal Board of Revenue (FBR) has introduced an innovative, integrated system enabling streamlined payment of all major taxes, including Withholding Tax, Income Tax, Sales Tax, and Federal Excise Duty (FED). Available through the Iris portal, this system aims to simplify the tax process, allowing users to make online payments with
FBR
The Federal Board of Revenue (FBR) reported that customs duty collection saw a strong recovery in 2023-24, showing an 18.5% increase compared to the previous fiscal year. Net customs revenue for the period reached above Rs1.1 trillion, up from Rs931.7 billion the year before, making customs duty
Tax
ISLAMABAD, Sep 03: Negotiations between the Federal Board of Revenue (FBR) and retailers have reached a deadlock over a proposed tax-friendly scheme, with both sides failing to reach a breakthrough during recent discussions. The FBR has proposed forming a committee comprising representatives from the business community to reassess the fair
FBR
ISLAMABAD, Aug 28: The Federal Board of Revenue (FBR) is poised to introduce significant changes to its tax scheme in response to demands from the trading community. The proposed reforms include simplifying the income tax return form into Urdu and exempting small traders from sales tax on annual turnovers up
FBR
ISLAMABAD, Aug 15: The Federal Board of Revenue (FBR) is under scrutiny after a report by the Auditor General of Pakistan revealed that officials allegedly misappropriated Rs. 21.2 million on vehicle repairs and petrol. According to the audit, FBR officers incurred these expenses without the necessary approvals, and the
FBR
ISLAMABAD, Aug 13:The Federal Board of Revenue (FBR) has been unable to recover trillions of rupees in income tax, according to sources, exposing significant gaps in the tax collection system. Despite issuing over 3,000 notices, the FBR has failed to recover Rs. 80 billion. A further Rs. 104
FBR
ISLAMABAD, July 31: Chairman of the Federal Board of Revenue (FBR), Amjad Zubair Tiwana, has decided to retire early, sources reveal. Tiwana has submitted a two-week notice to the government for stepping down from his position. The Grade 21 officer of the Inland Revenue Service was originally scheduled to retire
FBR
Islamabad: The Federal Board of Revenue (FBR) has successfully achieved its revenue target for the fiscal year 2023-24. Against the target of Rs. 9252 billion, the FBR collected Rs. 9306 billion, surpassing the goal by Rs. 54 billion. The FBR reported a 30% increase in revenue collection compared to the
FBR
ISLAMABAD, May 30: The Federal Board of Revenue (FBR) has formed four specialized technical committees dedicated to implementing a comprehensive tax system digitization project and to enhance tax collection and curb evasion. This initiative, approved by FBR Chairman Amjad Towana, aims to modernize the tax infrastructure, expand the tax net,
PTA
Islamabad: The Pakistan Telecommunication Authority (PTA) has rebuffed the Federal Board of Revenue (FBR)'s request to block the SIM cards of more than five lakh non-filers, citing legal constraints and potential adverse effects on the telecom economy. According to media reports, PTA responded to FBR's letter,
FBR
ISLAMABAD: The Federal Board of Revenue (FBR) has decided to devise comprehensive operational strategies to expedite the collection of billions of rupees stuck in various tax cases pending in different courts. Federal Minister for Finance, Muhammad Orangzeb, visited the headquarters of the Federal Board of Revenue to chair a meeting
FBR
ISLAMABAD: The government has signaled its intent to take legal action against those impeding the enforcement of the decision to block mobile SIM cards. Sources reveal that this determination was reached during a meeting at the Federal Board of Revenue (FBR) headquarters, attended by Finance Minister Muhammad Aurangzeb and Attorney
FBR
Islamabad: The Federal Board of Revenue (FBR) has launched the investigation of the practice of selling confiscated smuggled vehicles at prices lower than the minimum auction reserve price. This issue has reportedly been ongoing for several years and has come under scrutiny following a letter from the Legal and Accounting
FBR
ISLAMABAD, April 13: The Federal Board of Revenue (FBR) has decided to block the mobile phone SIM cards of approximately 1.8 million non-filers across the country n a move to comply with the International Monetary Fund's (IMF) conditions,. According to media reports, the decision was approved by
FBR
ISLAMABAD, April 05 : The Federal Board of Revenue (FBR) has announced the launch of the Pakistan Honor Card Scheme for the tax year 2023. This initiative aims to recognize and reward top taxpayers across various sectors in the country. In a recent notification, the FBR announced that taxpayers awarded the