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FBR Constitutes Committee to Formulate Rules under Modified Section of Customs Act

ISLAMABAD, Federal Board of Revenue (FBR) Wednesday constituted a committee of senior officers at Customs House, Karachi to formulate rules to implement section 156(1) of the Customs Act, 1969 as modified by the Federal Government vide Finance Act, 2021. The said provision of law prescribes […]

PM lauds FBR on historic Rs 4,732 bln tax revenue

ISLAMABAD, Prime Minister Imran Khan on Friday commended the efforts of the Federal Board of Revenue (FBR) in achieving the historic level of tax revenues of Rs.4,732 billion in 2020-21. “This performance is testimony to the strong economic revival spurred by our government’s policies,” the […]

FBR starts operation against unregistered units

ISLAMABAD, In a drive against against violators of Sales Tax Act, 1990, Federal Board of Revenue’s Directorate of Intelligence and Investigation-Inland Revenue, Lahore has conducted proceedings against three unregistered units, manufacturing Plastic Footwear. The units were engaged in manufacturing and making taxable supplies of Plastic […]

FBR constitutes committees to remove anomalies in finance bill- 2021

ISLAMABAD, Chairman, Federal Board of Revenue (FBR), Asim Ahmad Friday constituted anomaly committees (technical and business) in order to identify and remove the technical and legal anomalies in the Finance Bill 2021. The anomaly committee-technical would be chaired by Naeem Akhtar Sheikh, UHY Hassan Naeem […]

FBR clarifies taxation of salary income in budget proposals

ISLAMABAD, Federal Board of Revenue (FBR) has issued a clarification on a news story published in the daily Express Tribune, in its issue dated 14th June, 2021 regarding recent budget proposals on taxation of salary income. FBR has stated that the story contains some incorrect […]

FBR collect net revenue of Rs. 4,170 billion during July-May

ISLAMABAD, The Federal Board of Revenue (FBR) has collected net revenue of Rs. 4,170 billion during July to May period of 2020-21, which has exceeded the target of Rs.3, 994 billion by Rs. 176 billion. This represents a growth of about 18 percent over the […]

FBR Introduces online electronic hearing of tax audits, assessments cases

ISLAMABAD, The Federal Board of Revenue (FBR) has Introduced online electronic hearing of tax audits and assessments cases. According to Press release issued here on Tuesday, the FBR has launched the software of electronic hearing of tax audit and assessment cases to facilitate the taxpayers. […]

FBR, PRAs ink MoU for single sales tax return, web portal

ISLAMABAD – Federal Board of Revenue and all the four Provincial Revenue Authorities (PRAs) have signed a memorandum of understanding (MoU) for a single sales tax return and single web portal. Signing of the MoU is one of the most significant components of harmonization of […]

FBR to introduce track and trace system to stop tax evasion

Prime Minister Imran Khan on Tuesday said that Federal Board of Revenue (FBR) is introducing track and trace system to stop tax evasion in some major sectors of the economy. PM Imran Khan, while addressing meeting of federal cabinet, said that lack of automation is primary reason […]

Eight-month revenue collection of Rs2,916 billion exceeds target: FBR

ISLAMABAD-The Federal Board of Revenue (FBR) has collected revenues of Rs.2916 billion during the first eight months (July-February) of current year, exceeding the target of Rs2,898 billion set for the period. As compared the same period of last year, the collection witnessed growth of about 6 percent […]

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