Tag Archives: FBR

[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has decided to block 500,000 mobile phone SIMs of tax evaders as the decision has been endorsed by its chairman. In this regard, the FBR has sent relevant rules to the officers concerned. According to sources, the FBR has identified two million …

[ad_1] KARACHI: I A Mayburov (2007) defines the Tax System as ‘a system that is a principle-based integral unity of its main interconnected and interrelated elements. These elements are the regulatory legal basis of taxation, the set of taxes and fees, the payers of taxes and fees, and the mechanism …

[ad_1] Prime Minister Shehbaz Sharif has decided to lead the reform process in the Federal Board of Revenue (FBR) himself amid the startling revelation that over 80% of bank accounts in Pakistan are not declared to the tax authorities. The prime minister has appointed himself as the chairman of the …

[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif, on Tuesday, directed the hiring of a foreign consultant to modernise the Federal Board of Revenue (FBR), indicating a departure from the previously approved restructuring plan. This decision emerged during the PM’s first comprehensive meeting on the administrative affairs of the FBR. The PM …

[ad_1] ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the …

[ad_1] ISLAMABAD: The federal government has announced plans to permit the import, local sale, and re-export of petroleum products facilitated by foreign suppliers. This decision, aimed at streamlining trade processes, involves amendments to the Customs Rules, 2001, introducing the Customs Bonded Facilitation Rules, 2024. The Federal Board of Revenue (FBR) …

[ad_1] ISLAMABAD: With less than a week before the general elections, the interim government has notified an implementation committee to execute the restructuring of the Federal Board of Revenue (FBR) and has set a tight deadline of 72 hours to finalise a legal package. Chairperson of the Pakistan Stock Exchange …

[ad_1] ISLAMABAD: Sustained performance in income tax collection, coupled with a better show in previous months, has enabled the Federal Board of Revenue to achieve its seven-month target of Rs5.12 trillion. However, for the first time in this fiscal year, the monthly target was missed by Rs9 billion or 1.3%. …

[ad_1] ISLAMABAD: A majority of members in a federal cabinet body have identified flaws in the finance minister’s plan to restructure the Federal Board of Revenue (FBR), finding it not aligned with the requirements to end corruption and misuse of power by taxmen and lacking substance to enhance collection. The …

[ad_1] ISLAMABAD: The Inland Revenue Service (IRS) has approached the Election Commission of Pakistan, urging the electoral body to prevent the interim government from what it deems an “illegal and unconstitutional” restructuring of the Federal Board of Revenue (FBR). The petition was filed during the inaugural meeting of a sub-committee …