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FBR needs to collect mammoth Rs2,759b in second half to achieve annual target

Posted on January 3, 2021 by Tuba Zafar

ISLAMABAD- The Federal Board of Revenue (FBR) would have to collect mammoth Rs2,759 billion in second half (January to June) to achieve the annual tax collection target for the current fiscal year. The government had set annual tax collection target at Rs4963 billion for the ongoing financial year. However, […]

2.19 million income tax returns received so far: FBR

Posted on December 27, 2020 by Tuba Zafar

ISLAMABAD – The Federal Board of Revenue (FBR) on Saturday claimed that it had received 2.19 million income tax returns so far. The FBR has stated that the taxpayers’, who filed income tax returns till 8th December, 2020 were 1.78 million. That number has further […]

FBR issues refunds of Rs144 bln till December

Posted on December 24, 2020 by Tuba Zafar

ISLAMABAD, The Federal Board of Revenue (FBR) has issued refunds to the tune of Rs144 billion from July to December 2020 against only Rs76 billion during the same period of last year, showing an increase of 89 percent. According to press release issued by the […]

Taxpayers’ Allowed to File Tax Returns After Expiry of Extended Period: FBR

Posted on December 10, 2020 by Tuba Zafar

ISLAMABAD, :Federal Board of Revenue (FBR) has clarified that taxpayers’ are allowed under the law to file annual income tax returns after the completion of extended period granted by the Chief Commissioners Inland Revenue. FBR has advised the taxpayers’ to file their returns as early […]

FBR, PRA pushing industry to pay double tax

Posted on December 7, 2020 by Tuba Zafar

Lahore – The Friends of Business and Economic Reforms (FEBR) on Sunday called for harmonization between Federal Board of Revenue (FBR) and Punjab Revenue Authority (PRA) intending to avoid double taxation, as both tax collecting agencies have started sending notices to the industry to […]

FBR Surpasses Revenue Target for First Five Months of Current Year

Posted on December 2, 2020 by Tuba Zafar

ٰٰٰISLAMABAD, :Federal Board of Revenue (FBR) has collected Rs. 1688 billion net revenue in the current Fiscal Year from July to November against target of Rs. 1669 billion whereas revenue collected was Rs. 1623 billion in the previous year. Income Tax collection for July to […]

Significant Facilitative Initiatives taken by FBR In line with the vision of the Prime Minister to facilitate tax payers

Posted on November 28, 2020 by Tuba Zafar

ISLAMABAD, :Significant Facilitative Initiatives taken by FBR In line with the vision of the Prime Minister and Special Assistant to PM on Revenue, Federal Board of Revenue (FBR) has taken significant initiatives to facilitate taxpayers by making compliance easier. FBR in collaboration with PRAL, has […]

FBR has issued a clarification on the news item published in daily “The News”