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 […]
“There are around 3.5 million top households liable to pay taxes to the government, however out of which 2.8 million are not paying taxes,” Spokesperson FBR, Bakhtiar Muhammad told APP. The incumbent government had embarked upon a comprehensive plan to enhance the tax-to-GDP ratio and resultantly the number of tax filers as well as tax […]
Atif Ikram Sheikh, President of FPCCI has said that there are difficulties in filing returns owing to a defective system of the Federal Board of Revenue (FBR) causing delays owing to technical difficulties. FPCCI President said the FBR must offer attention to the improvement of the tax system alongside its harsh measures. There are limitations […]
KCCI President Iftikhar Ahmed Shaikh in his statement said the FBR’s portal for submitting online tax returns is not ‘working’ and the traders are finding it difficult to submit their returns as the deadline is also nearing. Shaikh urged the (FBR) to extend the deadline for filing income tax returns for a month as the […]
According to details, the crackdown will target individuals conducting business under benami (undisclosed ownership) or fake names. According to FBR officials, third-party data collection methods will be employed to gather information on unregistered businesses. Current FBR records reveal that only 300,000 manufacturers are registered for sales tax in Pakistan. After October 1, FBR plans to […]
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 […]
