FBR implements automatic selection of cases for audit
KARACHI: The Federal Board of Revenue (FBR) has been equipped with automatic selection of cases for audit that do not fulfill certain conditions. Under the provisions 8 of Section 214D,…
FBR introduces progressive tax regime for non-corporate taxpayers
KARACHI: The Federal Board of Revenue (FBR) has introduced progressive tax regime for profit on debt in case of non-corporate taxpayers. The rationale for introducing progressive tax rates is that…
FBR explains new withholding tax provisions applicable to banking companies
KARACHI: The Federal Board of Revenue (FBR) has issued explanation regarding new withholding tax provisions applicable to banking companies. Banking instruments and channels are used to acquire assets and incur…
FBR launches mobile service for taxpayer status verification
KARACHI: The Federal Board of Revenue (FBR) has introduced mobile SMS service ‘9966’ for verification of status on active taxpayers list to facilitate taxpayers and withholding agents. FBR has recently…
FBR develops code of conduct to discourage corruption
KARACHI: The Federal Board of Revenue (FBR) as part of the mission to eliminate corruption in the revenue body has developed a code of conduct. This would discourage officers avoiding…