Schemes Covering Duties And Tax Refunds – List of 854 Active Manufacturers Released
Islamabad: The Federal Board of Revenue (FBR) released the names of 854 active manufacturers under various export facilitation schemes to extend duties/taxes exemption This is to notify you that the Federal Board of Revenue has uploaded a list on its website. Manufacturers operating under the DTRE scheme, export facilitation scheme, manufacturing bonds scheme, and Export […]
Finance Ministry To Notify New Tax Rates through Electricity bills for Retailers in October
Islamabad: On August 4, 2022, Dr. Miftah Ismail conducted a meeting in the committee room of the Ministry of Finance, Pakistan Secretariat, to finalize the collection of sales tax through electricity bills. Previously withdrawal of sales tax through electricity bills was demanded by stakeholders, including service providers who were not under the jurisdiction […]
FBR Intends to Grow Tax Rate Charges on the Banking Sectors from This Year
PESHAWAR: A tax professional belonging to Khyber Pakhtunkhwa, Muhammad Umair Zeb, has stated the Federal Board of Revenue (FBR), notwithstanding receiving a clean price range notion from the banking quarter to abolish the top-notch tax, might also increase its charge within the federal budget for 2022-23. As the Official sources stated that speaking at a […]
FBR Misses March Tax Target
Islamabad: Federal Board of Revenue claimed on 1st April that it collected Rs 4.382 trillion in taxes during nine months of the current fiscal year but missed the target by a wide margin due to its failure to increase reliance on direct taxes. According to the provisional information, the FBR received Rs 4.382 trillion during […]
IMF Asks Pakistan for Changes in Personal Income Tax
Islamabad: The International Monetary Fund (IMF) has reiterated the changes in personal income tax in Pakistan amid the economic downturn and political differences in the country. Recently, a meeting was held between the tax officials of Pakistan and the international lender where the issue was raised about the reforms in the personal income tax to […]
FBR Surpasses The Revenue Target For Eight Months
The Federal Board of Revenue (FBR) surpasses the revenue target set for the eight months in the current fiscal year (8MFY22). FBR collected Rs 3.79 trillion against the target which was set at Rs 3.53 trillion. The tax collection in the current fiscal year has been exceptional so far and has been surpassing all the […]
PM praises FBR for Surpassing Tax Revenue Target
Prime Minister, Imran Khan, praised the Federal Board of Revenue (FBR) on Wednesday for exceeding the February revenue target. The target set for February by the FBR was 441 billion rupees. The Prime Minister took to his Twitter account to announce the big news of target being achieved by the Federal Board of Revenue. The […]
Retailers Slam FBR for Sealing Premises
Lahore: Retailers slammed the Federal Board of Revenue (FBR) decision allowing field officers powers to seal an integrated retailer’s premises without even a show-cause notice. The FBR gave another notification on the 16th of February, which permits FBR field officials to seal an integrated retailer’s premises without even a show-cause notice. According to section 150ZEO […]
DNFBPs Obliged to Register with FBR
The Federal Board of Revenue (FBR), under the Act of Anti-Money Laundering, must ensure that the real estate agents, developers, precious metal and stones dealers, jewelers and FBR supervised accountants are registered as designated non-financial businesses and professions (DNFBP). However, financial institutions, lawyers, law firms, notaries and non-FBR supervised accountants will fall under other competent […]
FBR Aims to Collect 8 Trillion Rupees Revenue By 2023
Islamabad: The chairman of the Federal Board of Revenue (FBR), Dr. Ashfaq Ahmed, indicated on Wednesday that the FBR seeks to collect Rupees 8 trillion of revenue by 2023 which will set Pakistan’s economy in a new direction. While talking to the journalists, Dr. Ashfaq stated that the Prime Minister, Imran Khan, has his vision […]
