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Tag: Federal Board of Revenue (FBR)

FBR customs intelligence wing
Business
  • Web Desk
  • Nov 01, 2024
FBR expects Rs130b tax collection deficit, mini-budget required

Such a huge gap can jeopardise Pakistan’s ability to receive the next installment of financial handout from the IMF.

The country saw a huge increase in the number of tax return filers, as the FBR reportedly gained access to citizens’ data from the NADRA.
Business
  • Web Desk
  • Oct 23, 2024
Tax filers double after NADRA data access by the FBR

According to reports, the FBR is utilising data on property ownership, bank balances, and foreign travel expenditures to broaden its tax net.

The Federal Board of Revenue (FBR) announced that its offices will remain open on Sunday (today) to faciliate the submission of business tax returns ahead of the impeding deadline.
Pakistan
  • Web Desk
  • Oct 15, 2024
FBR extends Income Tax Returns deadline to October 31

This is a second extension granted by the revenue authority.

The FBR arrested five people linked to a sales tax fraud scheme valued at billions of rupees, as part of a larger crackdown on tax evasion.
Latest
  • Web Desk
  • Oct 15, 2024
5 people arrested in major tax fraud operation

The arrest were made by the Directorate General of Intelligence and Investigation in Hyderabad and Faisalabad.

The Federal Board of Revenue (FBR) granted a 14-day extension for filling income tax returns, the revenue body announced in early hours of Tuesday.
Pakistan
  • Web Desk
  • Oct 01, 2024
Taxpayers can file tax returns till October 14: FBR

The FBR is set to launch a major initiative targeting tax non-compliance, including barring the non-filers leaving the country.
Business
  • Web Desk
  • Sep 24, 2024
FBR to bar non-filers from traveling outside the country

The revenue board stated that it maintains a “thorough record” citizens transactions, which will assist in identifying tax evasion and ensuring compliance.

mini-budget
Pakistan
  • Web Desk
  • Sep 12, 2024
Mini-budget on govt’s cards as FBR struggles to achieve tax targets

If FBR fails to achieve the tax goals, the IMF could push the government to adopt a mini-budget, to qualify for securing a $7 billion loan.

The Federal Board of Revenue (FBR) dismissed online rumours claiming that it will impose taxes on the prize money won by Arshad Nadeem, who won gold medal at 2024 Paris Olympics.
Pakistan
  • Web Desk
  • Aug 11, 2024
FBR confirms no tax on Arshad Nadeem’s prize money

The FBR confirmed that the prize money will remain tax-free.

Budget 2024-25: CVT on property
Business
  • Web Desk
  • Jul 31, 2024
Capital gains tax not applicable on properties purchased before July 1, 2024

Properties purchased on or after July 1, 2024 will be subjected to a gain tax at the rate of 15 per cent for filers and higher for non-filers.

Finance Minister
Pakistan
  • Web Desk
  • Jul 28, 2024
Finance Minister urges to enhance public services to justify tax increases

Addressing concerns from salaried individuals, Aurangzeb mentioned that efforts are being made to avoid burdening the lower-income groups with taxes.

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