Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The Federal Board of Revenue (FBR) has advised all chief commissioners of Inland Revenue to facilitate the exporters by issuing necessary confirmation to the utility providers for according preferential/reduced…
KARACHI: Pakistan government has prepared the draft of Federal Revenue Authority (FRA) Act, 2020, which provides for the establishment of an authority to be called Federal Revenue Authority consisting of…
ISLAMABAD: The Federal Board of Revenue (FBR) has decided in principle to move towards replacing the existing General Sales Tax (GST) with Value Added Tax (VAT) across the board for…
KARACHI: The Anti-Smuggling Steering Committee (ASSC) meeting chaired by Prime Minister Imran Khan has approved establishment of national, provincial and divisional level Crossing Point Task Forces, as well as integration…
KARACHI: The Federal Board of Revenue (FBR) has advised the taxpayers to update their online registration profile in the light of SRO 1190(I)/2019 to entitle them to claim exclusion from…
KARACHI: Disappointed with the government’s promise of issuing sales tax refunds within 72 hours, the All Pakistan Textile Mills Association (APTMA) has demanded to restore the zero-rated regime and reinforce…
KARACHI: The country’s corporate sector has been found involved in at least Rs100 billion of tax evasion and avoidance during the four months of the fiscal year, Large Taxpayers Unit…
KARACHI: An appellate bench of High Court of Sindh (SHC) on Wednesday adjourned hearing of a Income Tax Reference Application (ITRA) till Nov 27 asking the petitioner side to file…
KARACHI: The FBR has proposed enforcement of law by binding the real estate agents and jewelers to maintain record of beneficial owners of properties and jewelry and report all suspicion…
KARACHI: The Federal Board of Revenue has notified withdrawal of 3.0% value addition tax on a long range of consumer goods mentioned in the Third Schedule of Sales Tax Act,…
KARACHI: In order to address the concerns of officers and officials of Federal Board of Revenue (FBR), and to make restructuring of FBR a more inclusive exercise, the Chairman FBR…
ISLAMABAD: FBR Chairman Shabbar Zaidi admitted before the parliamentarians on Thursday that the money remitted out from Pakistan and creation of any assets abroad could not be termed “illegal” as…
ISLAMABAD: The Federal Board of Revenue (FBR) has developed Sectoral Study on Cash Smuggling to identify and to understand risk associated with Terrorist Financing (TF) involvement in cash couriers, 25th…
KARACHI: The Inland Revenue Service (IRS) has expressed deep concerns over the proposed formation of Pakistan Revenue Authority (PRA), which is likely to leave around 10,000 employees redundant and might…
KARACHI: The PTI government is considering transformation of Federal Bureau of Revenue (FBR) into a single revenue collection body across country to be named Pakistan Revenue Authority (PRA), which would…
KARACHI: Federal Board of Revenue (FBR) has extended due date for filing income tax returns and wealth statements for tax year 2019 up to November 30, 2019. The FBR issued…
ISLAMABAD: Federal Board of Revenue (FBR) is facing a revenue shortfall of Rs163.5 billion in first four months (July-Oct) of FY20. The provisional revenue collection in the four months stood…
KARACHI: Traders called off the strike on Wednesday evening after an agreement was reached between the Federal Board of Revenue (FBR) authorities and traders community. Chairman Karachi Tajir Ittehad Atiq…
KARACHI: The Karachi Tax Bar Association (KTBA) has asked the Federal Board of Revenue (FBR) to extend the due date of filing of Income Tax Returns – Tax Year 2019.…
KARACHI: Chairman Federal Board of Revenue (FBR) Syed Muhammad Shabbar Zaidi has issued a letter to the heads of all banks to provide complete details of their account holders. Reference…