KARACHI: Tax collection from non-cash banking transactions surged 103 percent in April 2021 largely on account of a massive decline in the number of...
KARACHI: A three-tier system to collect federal excise duty on production and supply of tobacco products has been finalised for reintroduction...
KARACHI: Tax collection on payment to non-residents surged by 66 percent during the first nine months 2020/21 due to the measures taken by the tax...
The logo of Federal Board of Revenue .KARACHI: The Federal Board of Revenue is considering withdrawing exemptions and concessions granted in case...
The sources said various tax rates are under consideration to boost the salary income tax collection from existing Rs129 billion to Rs305 billion
KARACHI: The Federal Board of Revenue has refused to write off tax liabilities of Pakistan International Airlines and reconciliation is a...
KARACHI: The government has finalised a medium-term budget strategy paper to reduce number of withholding taxes and slash tax slabs for individual...
KARACHI: The Federal Board of Revenue has allowed reduced rate of withholding tax at 0.25 percent for dealers of fertilisers who have sales tax...
KARACHI: The federal government has documented Rs60 billion worth of bearer bonds valuing Rs25,000 each in three months to comply with one of the...
KARACHI: Import volume of duty-free goods increased to Rs2.6 trillion during the tax year 2020 compared with Rs2.44 trillion in the preceding tax...
KARACHI: The Federal Board of Revenue is waiting for a judgment of the appellate tribunal for the tax recovery of around Rs1.6 billion from a...
KARACHI: To broaden the tax base, the Federal Tax Ombudsman recommended cash back incentives for those filing their annual income tax returns,...
KARACHI: The government has empowered the Federal Board of Revenue to conduct audits of exporters of information technology and IT-enabled...
KARACHI: The Federal Board of Revenue has introduced different reduced rates of penalty on filing of income tax returns after due date, sources...
KARACHI: The Federal Board of Revenue will withdraw income tax exemptions granted to individuals and companies to increase revenues, sources said...
KARACHI: The Federal Board of Revenue has decided to include unique customs tariff codes of goods in sales tax returns form to curb fake refund...
KARACHI: The Federal Board of Revenue has included at least 260,000 late filers of returns for the tax year 2020 into the active taxpayers list in...
KARACHI: The Federal Board of Revenue has opposed extending tax concessions for setting up new industrial units beyond June 30 after identifying...
KARACHI: Collection of withholding tax on registration and transfer of motor vehicles surged 177 percent during eight months this fiscal, an upshot...
KARACHI: The government has decided to withdraw various income tax exemptions through a presidential ordinance instead of presenting a bill in the...
KARACHI: Banks have refused to facilitate transactions in foreign exchange accounts of taxpayers whose names don’t appear in active taxpayer list ...
KARACHI: National Bank of Pakistan has challenged the tax recovery of more than Rs36 billion by the Federal Board of Revenue against alleged...
KARACHI: The government planned to abolish withholding taxes on education and event fees in the budget for the next fiscal year in a move to lighten...
KARACHI: The Federal Board of Revenue has issued notices to goods transporters for not disclosing possession of heavy motor vehicles in their...
KARACHI: The number of active taxpayers dropped 14 percent to 2.18 million for the tax year 2020 as many return filers were unable to file returns...
KARACHI: The Federal Board of Revenue has directed Commissioners Inland Revenue to rush the issuance of exemption certificates to taxpayers as...
KARACHI: The Federal Board of Revenue has decided to further strengthen information technology system to combat issuance of bogus sales tax...
KARACHI: The Federal Board of Revenue issued instructions to Commissioner Inland Revenue for avoiding annulment of orders in a bid to control the...
KARACHI: Total investment in registered or premium prize bonds surged 29 percent to Rs22.8 billion during the last year as investors were seen...
KARACHI: Large Taxpayers Office Karachi has collected Rs849 billion during first seven months of fiscal year 2020/2021, exceeding the target of...
KARACHI: The Federal Board of Revenue has withdrawn a notification issued three years ago related to electronic service of tax notices, paving ways...
KARACHI: The government has waived income tax on profit earned from investments in debt market by non-resident Pakistanis through Roshan Digital...
KARACHI: The Federal Board of Revenue can potentially recover more than Rs125 billion through imposing fines and penalty on late filers and...
KARACHI: The Federal Board of Revenue can potentially recover more than Rs125 billion through imposing fines and penalty on late filers and...
KARACHI: Financial institutions are demanding certificates of proof from investors that show they receive less than Rs500,000 profit on debt in a...
KARACHI: The collection of sales tax on services by the provinces increased 28.4 percent during the first half of the current fiscal year owing to...
KARACHI: The Federal Board of Revenue has made it mandatory for jewellery traders to retain record of cash transactions above two million rupees as...
KARACHI: The Federal Board of Revenue has decided to impose ‘heavy’ penalties on sugar mills if they fail to connect their facilities through...
KARACHI: The Large Taxpayers Office Karachi has created Rs500 billion worth of tax demand against sugar mills during an ongoing audit exercise,...
KARACHI: The Federal Board of Revenue has launched a composite audit of fertiliser manufacturers after unearthing various incidences of sales...
KARACHI: The Federal Board of Revenue saw income tax collection from profit on bank deposits rise 15 percent to Rs32 billion during the first half...
KARACHI: The Federal Board of Revenue on Friday fixed a cash reward for whistleblowing that leads to recovery of evaded taxes at a maximum of Rs5...
KARACHI: The Federal Board of Revenue has deferred automated assessment of tax returns till June this year as its online system is not ready to...
KARACHI: Tax managers have proposed the government to revise down revenue target by at least Rs250 for the current fiscal year, considering the...
KARACHI: Taking cognizance of technical and non-technical hurdles in returns filing, the Federal Board of Revenue has decided to act realistically...
KARACHI: The Federal Board of Revenue saw withholding tax collection on cash withdrawal from banks increase seven percent during the first half of...
KARACHI: The Federal Board of Revenue agreed to return Rs1 billion deducted from the Sindh treasury, making the provincial government pliant to...
KARACHI: The government’s plan to pilot online surveillance of sugar production has confronted a technical barrier as real-time video connection...
KARACHI: Revenue collection authorities have managed to force around 15,000 shopkeepers to file their annual income tax returns for tax year 2020 by...
KARACHI: The Federal Board of Revenue has started consultations with stakeholders on the tax reforms for capital markets to attract more foreign...
