As per details, the FBR headquarters has issued a letter to the Chief Commissioner of the Corporate Regional Tax Office, mentioning concerns over the slow pace of revenue collection. The letter mentioned the need to enhance efforts to achieve targets, particularly in the first quarter of the financial year. The FBR has also directed the […]
According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone. If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini-budget […]
The businessman community in the country has voiced discontent, stating that the scheme’s introduction was “completely inappropriate”. According to the Chief Coordinator of the Tajir Dost scheme, Naeem Mir, the deadlock between the traders and the FBR has ended and both parties will meet tomorrow in Islamabad to discuss the issues regarding the scheme. Mir […]
According to sources, the FBR collected Rs 1464 billion in July-August, missing the target of Rs 90 billion. The tax collection target for September is Rs 1190 billion, and if the FBR fails to achieve it, the IMF may demand a mini-budget, sources warned. The continuous protests and roadblocks in July-August affected economic activities and […]
Traders are to observe a strike on August 28 (tomorrow) against the Tajir Dost scheme launched by the Federal Board of Revenue. Fazlur Rehman in his statement said, he fully supports the strike of traders and alleged government is overtaxing people on the demand of the International Monetary Fund (IMF). Inflation and ‘unjustified’ taxes have […]
According to sources, the tax will be imposed on the subsidy amounting to Rs 60 billion in the current financial year. Sources said that the FBR will collect approximately Rs 1 billion in tax revenue from the subsidy after considering the subsidy as income. Last year, the FBR had attached the accounts of utility stores […]
Chairing the first meeting of the task force on digitalization of the FBR, held on Tuesday at the FBR headquarters and co-chaired by DG C41 Major General Syed Ali Raza, the state minister said the prime minister had constituted the task force for submitting recommendations to completely digitize all systems at the FBR. He explained […]
This move aims to streamline taxation and generate additional revenue from outbound labor migration. According to a notification issued by the Federal Board of Revenue (FBR), under clause (b) of serial number 3 of the first schedule of the Federal Excise Act, 2005, a fixed tax of Rs 5,000 will be levied on air tickets […]
According to a letter from the PM office to the Federal Board of Revenue, the Prime Minister has been pleased to constitute a Task Force for comprehensive and end-to-end digitalization of FBR. Minister of State for Finance & Revenue Ali Malik will be chairman of the Task Force while Major General Syed Ali Raza, DG […]
Tiwana has sought retirement with effect from August 15th – six months ahead of reaching the age of superannuation. Sources said that the FBR chief dispatched the retirement request to the Prime Minister’s Office and the finance minister on Monday evening. Sources revealed that the senior officers of FBR did not cooperate with Tiwana. Amjad […]
