Federal govt to implement seven new tax measures with IMF approval
The federal government of Pakistan has reached an agreement with the International Monetary Fund (IMF) to implement seven new taxation measures during the fiscal year 2024-25 if revenue collection falls short of the projected target by 1 per cent in the current fiscal year. According to the IMF’s “Extended Arrangement
FBR to raise immovable property rates by up to 75%
The Federal Board of Revenue (FBR) is set to increase property valuation rates by up to 75% today, bringing them closer to market values. Sources have revealed that the revised values are expected to be notified after receiving clearance from the Law and Justice Division. The FBR had been given
FBR introduces tax exemption policy for vehicles
The Federal Board of Revenue has announced a new tax exemption policy for vehicles imported specifically for use in Gwadar Port and its associated free zones. This initiative aims to promote economic activity and facilitate businesses operating in the region. The FBR declared that companies engaged in operations at Gwadar
FBR announces nationwide crackdown against non-filers starting November
Federal Board of Revenue Chairman, Rashid Langrial, has announced that strict actions against non-filers will commence after November 1. Speaking to the media in Islamabad, Langrial stated that the number of income tax returns filed has surpassed 4 million, doubling from last year. The chairman also highlighted that the deadline
Cheezious criticised for allegedly charging same tax on card, cash payments
A social media user, Noor Khalid, took to Instagram to share his experience at the Samnabad, Lahore branch of the local fast food chain 'Cheezious.'
Can FBR’s new measures reverse the tax collection crisis?
Pakistan’s tax base has been highly skewed and narrow-based as official data shows that after adjusting for inflation and real GDP, the FBR's real tax has been standing at 1 per cen
FBR extends deadline for income tax returns to Oct 14
Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns for the fiscal year 2024, granting taxpayers until October 14, 2024, to submit their returns. The decision, made under Section 214A of the Income Tax Ordinance 2001, was formalised in an official notification issued by the
No extension in tax return deadline: FBR
The Federal Bureau of Revenue (FBR) has said the deadline for the submission of tax returns is not being extended.
Govt urged to give one-month extension for tax returns
The Rawalpindi-Islamabad Tax Bar Association has written a letter to Prime Minister (PM) Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and Federal Board of Revenue (FBR) Chairman, requesting an extension for filing tax returns until October 31.
FBR expected to extend deadline for filing tax returns
The Federal Bureau of Revenue (FBR) is expected to extend the deadline for tax return submissions.
