After two extensions, the FBR has denied any further extension in the deadline, which is set to expire today (October 31). According to the FBR officials, so far, over 5.01 million returns have been submitted, with more than Rs125 billion collected from the tax returns process. The tax body has directed the citizens to file […]
According to details, the FBR jacked up the property valuation rates by 75% of the actual market rates starting November 1, 2024. This decision aims to enhance revenue collection and reduce the undervaluation of properties. The updated rates reflect the FBR’s commitment to align the property values with their real market worth, expanding the number […]
According to the notification issued by the FBR, the sales tax on locally manufactured tractors has been raised from 10% to 14%, and the same increase applies to imported tractors. The Federal Board of Revenue (FBR) officials stated that certain sales tax exemptions for tractors have been reduced. While the sales tax has been adjusted […]
As per details, the FBR has restructured the Customs Intelligence and Investigation division, limiting its role to monitoring only. Additionally, the authority to stop or release consignments has been withdrawn from Customs Intelligence officers. A notification has been issued by the FBR Chairman under the directives of the Prime Minister, outlining reforms and a new […]
In a written answer, the finance ministry said the registration of the traders under the scheme is underway and so far 76,259 traders have been enrolled. 29,735 in Lahore, 11,585 in Rawalpindi, 8,138 in Karachi and 6,563 traders from Islamabad have registered themselves under the Tajir Dost scheme. It should be noted here that the […]
For the first time in history, FBR arrested tax evaders after registration of FIRs, the sources said and added that the lists of tax evader companies and individuals have been finalized to speed up the action. Concerned tax commissioners will serve show-cause notices over tax irregularities. Meanwhile, the FBR officials have said with the new […]
The decision comes in response to requests from trade organizations and tax bar associations and considers bank holidays. The deadline was extended under Section 214A of the Income Tax Ordinance 2001, allowing taxpayers additional time to file their returns. FBR extends tax return filing deadline Previously, FBR had extended the deadline for filing income tax […]
FBR spokesperson, Bakhtiar Muhammad, said the last date for filing income tax returns is October 14 (today) and there would not be a further extension. The offices and field formations of the Federal Board of Revenue (FBR) will remain functional till midnight tonight. The FBR announced that 36,60,000 taxpayers filed their tax returns until September […]
The minister revealed that tax evasion in Pakistan stands at nearly Rs7,000 bln annually. He said steps are afoot to broaden the tax net and bring reforms to the tax system of Pakistan. The minister also announced the ‘war against tax evaders’ in Pakistan and admitted all the burden of taxes is being beard by […]
Exclusively talking to FBR spokesperson, Bakhtiar Muhammad said the last date for filing income tax returns is October 14. The FBR spokesperson further said after the deadline, the SIMs of the non-filers will be blocked and they will not be able to buy vehicles or plots. He urged the masses not to wait for the […]
