FBR Archives

Non-resident Pakistani businessmen will now have to file tax returns

The criteria for non-resident Pakistani businessmen have been changed as they would now be required to file their income tax returns to...

840

New tax on non-productive immovable properties cannot be challenged in courts

Asim Ahmad, Chairman of the Federal Board of Revenue (FBR), said that the ‘deemed income’ tax proposed in Finance Bill 2022 on non-productive...

681

Federal Board of Revenue collected Rs 5.349 trillion tax in 11 months

The Federal Board of Revenue (FBR) has raised a record Rs 5.349 trillion tax during the first 11 months of 2021-22. But,...

752

FBR exceeds nine-month tax collection target by Rs 247 billion

The Federal Board of Revenue (FBR) succeeded to exceed its collection target by Rs 247 billion from July to March during the...

869

Track & trace system helps FBR collect 33% more tax from sugar industry in ongoing crushing season

During the current crushing season, the Track and Trace System (TTS) was successfully implemented in the sugar sector, marking a major milestone....

1.0K

How to verify FBR Active Taxpayer Status in Pakistan

All people with a source of income in Pakistan are required to register with the Federal Bureau of Revenue (FBR). Someone who...

716

FBR reduces property valuation rates of immovable properties in 40 cities

The Federal Board of Revenue (FBR) on Thursday revised property valuation rates of immovable properties in 40 major cities of the country. In 2016,...

3.0K

Rs 3.79 trillion revenue collected in eight months against target of Rs 3.53 trillion

The Federal Board of Revenue (FBR) has collected Rs 3.79 trillion in the first eight months of the current fiscal year (8MFY22)....

644

FBR’s robust revenue growth enabled government to subsidize petrol, electricity

Prime Minister Imran Khan on Wednesday said that robust revenue growth of 28.5 percent by the Federal Bureau of Revenue (FBR) had...

726

FBR suffers revenue loss of Rs 45 million due to negligence

The Federal Board of Revenue (FBR) has lost millions of rupees in expired bank guarantees due to the negligence of customs officials....

873

FBR collected Rs 730 million from people involved in own-money business

The Federal Board of Revenue (FBR) has collected Rs. 730 million from individuals engaged in the automobiles sector with their own money....

1.4K

FBR fails to recover money from frozen bank accounts of Aima Baig

The Federal Board of Revenue (FBR) froze all of bank accounts of Aima Baig but later discovered that the singer emptied them...

961

FBR announces fair market value of immovable properties in Islamabad

The Federal Board of Revenue (FBR) has announced the new fair market value of immovable properties of Capital areas. The announced value is lowered...

1.3K

FBR unearthed Rs 500 million sales tax fraud by Metro Shoes

The integrated point of sales (POS) system of the Federal Board of Revenue (FBR) has claimed its first case of sales tax...

778

PM Imran Khan paid more income tax than Shehbaz, Bilawal, Gillani

Prime Minister Imran Khan paid tax of Rs 9.85 million during tax year 2019 against Rs 282,449 paid in tax year 2018,...

934

FBR collection jumps 32% to Rs 2.92 trillion in six months

The Federal Board of Revenue (FBR) has collected Rs 2.920 trillion in the first half of the current fiscal year (6MFY22), surpassing...

889

Track and trace system helps FBR collect 11% more tax from sugar sector

The federal tax collecting body has been successful in achieving 11 percent growth in revenue from the sugar sector during the period...

845

NADRA to use artificial intelligence to compute income, tax liability of non-filers

Before the end of the year, the National Database and Registration Authority (NADRA) will use advanced technology to evaluate the income and tax...

780

Govt to impose advance tax on foreign drama serials

The federal government has decided to apply an advance tax on drama serials produced in other countries. According to sources in the...

892

FBR hikes property valuation rates by 100% to over 600% in one go

The Federal Board of Revenue (FBR) has increased the immovable property valuation rates in 40 major cities by 100 to 600 percent,...

760

FBR beats five-month tax target by Rs 298 billion, an increase by 36.5%

Federal Board of Revenue (FBR) has exceeded the five-month (July-Nov) tax collection target by Rs 298 billion and collected Rs 2.314 trillion...

661

FBR extends deadline of digital payment for corporate sector

The Federal Board of Revenue (FBR) has extended the deadline for digital payment for the corporate sector to December 31. Earlier, the...

1.3K

FBR warns sugar traders of action for failing to comply with new track & trace system

Prime Minister Imran Khan initiated a track and trace system (TTS) of the Federal Board of Revenue (FBR) which will be helpful...

563

PM Imran Khan to launch single sales tax portal by end November

To smooth taxpayers and ensure affluence of doing business, Pakistan’s top tax machinery is set to launch the anticipated Single Sales Tax...

883

FBR received 2.562 million tax returns and collected Rs 48.47 billion with the returns

The Federal Board of Revenue (FBR) has collected Rs 48.47 billion from 2.562 million income tax returns filed through the 15th of...

650

IMF asks Pakistan to raise tax collection target from Rs 5.8 trillion to Rs 6.3 trillion

The International Monetary Fund (IMF) has recommended Pakistan to increase its annual tax collection target from Rs 5.8 trillion to Rs 6.3...

670

FBR surpassed first quarter tax collection target by Rs 186 billion

According to the provisional information, FBR has collected net revenue of Rs 1,395 billion during the first quarter of the current Financial...

550

Govt to collect taxes directly from social media giants

According to the proposed framework, social media powerhouses such as Facebook, Google, YouTube, and Twitter would be compelled to open offices in...

1.1K

FBR intelligence arm unearth tax evasion of Rs 460 million by steel mill in Punjab

The Federal Board of Revenue (FBR) has unearthed tax evasion worth Rs 460 million after conducting a raid on the business premises...

904

Corporate sector to opt for digital payments by November: FBR

Companies would be required to make payments on expenditures over Rs 250,000 through digital channel alone starting November 1, according to spokesperson...

573

Govt mulls tax relief for Pakistan Mortgage Refinance Company

The Federal Board of Revenue has proposed to exempt the income of Pakistan Mortgage Refinance Company Limited (PMRC) from income tax and...

483

Revenue collection for August touches Rs 434 billion, up by 45 percent

The revenue collection in August rose to Rs 434 billion, an increase of 45 percent from last year’s figure of Rs 300...

895

FATF conditions: Realtors to share credentials of buyers, sellers with FBR

The Federal Board of Revenue (FBR) has instructed realtors and builders to exchange the details of potential buyers and sellers of properties...

698

Network access to FBR sold on russian forum

Federal Board of Revenue (FBR) (fbr.gov.pk) has been the target of a large-scale cyber-attack. This was discovered after a group of unknown hackers...

671

FBR collects Rs 4,732 billion tax revenue during outgoing financial year 2020-21

FBR collected Rs 4,732 billion tax revenue in the outgoing fiscal year exceeding the revised target of Rs 4,691 billion by Rs...

842

FBR notifies lowering sales tax on some petroleum products

The Federal Board of Revenue (FBR) has announced a reduction in sales tax of some petroleum products to ensure supply at lower...

1.0K

FBR planning to tax digital platforms to generate Rs 10 billion

Federal Board of Revenue (FBR) predicted that the taxation on the digital platforms including Google, Facebook, and Youtube will generate Rs 10...

852

Customs duty collection from 13 major sectors rise by 26.58%

The Federal Board of Revenue (FBR) raised nearly 70 percent of the total customs duty collection from 13 major sectors. An amount of...

585

No leniency for tax defaulters from next fiscal year, warns Shaukat Tarin

Finance Minister Shaukat Tarin has stressed that the government will not be lenient towards wilful tax defaulters in the coming fiscal year. The minister was addressing...

756

No fresh tax amnesty for construction sector, says FBR

The Federal Board of Revenue (FBR) has strongly denied that it will offer any new amnesty to construction contractors, claiming that the...

829

Online marketplaces in Pakistan criticize 17 percent tax on transactions

In a recent Finance Bill, the government sought to classify online marketplaces (OMs) as “Tier 1 Retailers,” subjecting all transactions performed through...

602

Direct, indirect tax collection targets likely to increase in FY22 budget

International Monetary Fund has asked the government of Pakistan to propose a more than Rs 5.8 trillion tax collection target for the fiscal year 2022 in...

821

FBR sets Rs 5,829 billion tax collection target for FY 2021-22

According to government sources, the Federal Board of Revenue (FBR) has set a Rs 5,829 billion tax collection target for the fiscal year 2021-22. ...

804

Inland Revenue collection by FBR up 22 percent

The Federal Board of Revenue (FBR) announced about 51% of the total Inland Revenue has been increased from 14 main sectors including...

566

FBR surpasses May collection target by around 8 percent

The Federal Board of Revenue (FBR) has surpassed its collection target in May by 7.82 percent to hit Rs 386 billion against...

456

Pakistan asks IMF to reduce tax collection target to Rs 5.5 trillion

Pakistan has requested that the IMF reduce the FBR’s tax collection target for the upcoming budget from Rs 5.9 trillion to Rs...

874

FBR collection hits Rs475bn in March

Federal Board of Revenues successfully collected Rs.475 billion against a target of Rs.439 billion during the month of March, this year. This is the...

1.1K

FBR targeting Payoneer, freelancers over billions of rupees transferred from abroad

According to the Federal Board of Revenue (FBR), a ‘mega scam’ involving a foreign company moving about Rs60 billion to more than...

584

FBR exceeds eight-month revenue collection target by Rs 18 bn

There has not only been stability in all the sectors of the economy after the Covid-19 rather there seems much improvement. Federal Board of Revenues (FBR)...

1.0K

Real estate industry in panic over new FBR measures for FATF compliance

Real estate agents have been told by Federal Board of Revenue (FBR) to file Suspicious Transaction Reports to Comply with FATF Regulations. Pakistan has been...

1.4K

FBR okays AJCL (Pvt) Ltd for Track & Trace System of specified goods

The Federal Board of Revenues (FBR) has completed the evaluation process of granting license and chose AJCL Private Limited for an IT-based...

990

FBR surpasses 7-month tax collection target by Rs 20 billion

In the very first seven months (July-January) of the current fiscal year, the Federal Board of Revenue (FBR) tax collection stood at...

1.4K

FBR says salaried individuals not required to update tax profiles

The ‘salaried individuals’ are not required to update their ‘Tax Profiles’ under section 114A of the Income Tax Ordinance, 2001, says FBR....

770

Pakistan improves 31 positions on Trading Across Border Index: FBR

Pakistan has improved its rankings in the Trading Across Border Index by 31 positions, moving up from the 142nd to the 111th,...

1.6K

FBR Ordered to Auction 500 Non-Cleared Stranded Vehicles at Karachi Port

The Federal Tax Ombudsman (FTO) has ordered FBR to speed up the auction of around 500 uncleared stranded vehicles imported in violation...

1.5K

FBR introduces cash back refunds of sales tax to customers of tier-1 retailers

The Federal Board of Revenue (FBR) will allow customers to get five percent cash back on sales tax paid on purchases from...

789

Electronic transactions: FBR to regulate online import and export of goods

The Federal Board of Revenue (FBR) has decided to regulate the buying and selling of goods including digital products through electronic transactions...

718

FBR warns 300,000 late tax filers of massive fine

The last date for income tax return submission was 8th of December however, Federal Board of Revenue (FBR) granted an extension of...

1.1K

Govt mulls imposing 15 percent income tax on online earnings

The Government of Pakistan (GoP) is considering implementing income tax on earnings made online such as from freelancing and YouTube content creation....

727

FBR exceeds tax target by Rs 16 billion from July to November

The Federal Board of Revenue (FBR) exceeded its tax collection target by Rs 16 billion for a period from July to November...

1.7K

FBR Announces 17% Sales Tax on Trade of Used Cars

The Federal Board of Revenue (FBR) has declared that 17% sales tax will be applicable on sales and purchase of used cars...

1.7K

Justice Isa’s wife refuses to accept Rs35m tax liability

The Supreme Court Judge Justice Qazi Faiz Isa’s wife Sarena Isa declined to take a tax liability of Rs. 35 million which...

1.7K

DIRBS Fetches Whopping Rs 45.4bn Tax from Mobile Phones – FBR

Device Identification Registration and Blocking System (DIRBS) developed by Pakistan Telecommunication Authority (PTA) has assisted in generating an enormous Rs 45.4 billion...