Past income tax arrears: FBR recovers Rs2.8bn ISLAMABAD: The Federal Board of Revenue’s recovery from past income tax arrears totaled at Rs 2.8 billion during... Published 29 Nov, 2023 05:09am
Opinion IMF review & state of economy I expect an agreement on the review to come within this week, so, any day now. I can say that Pakistani authorities,... Updated 17 Nov, 2023 06:31am
Business & Finance A tug of war between tax dept and welfare organisation over surplus income from investments LAHORE: Welfare organisations utilising the surplus income out of their investments for their own beneficiaries are... Published 07 Nov, 2023 06:33am
Business & Finance Recovery notices under Sec 138: FTO orders probe against FBR ISLAMABAD: The Federal Tax Ombudsman (FTO) has ordered an investigation against the Federal Board of Revenue (FBR)... Published 05 Nov, 2023 03:10am
Print Sections 111, 122 of Income Tax Ordinance: FBR cannot issue combined notice to taxpayer: IHC ISLAMABAD: Islamabad High Court (IHC) has ruled that the Federal Board of Revenue (FBR) cannot issue a combined... Updated 04 Nov, 2023 09:23am
Business & Finance FBR receives over 2.9m income tax returns ISLAMABAD: The Federal Board of Revenue (FBR) has received over 2.9 million income tax returns for the tax year 2023... Published 01 Nov, 2023 05:57am
Business & Finance Filing tax returns: PTBA demands extending deadline LAHORE: The Pakistan Tax Bar Association (PTBA) has urged the Chairman Federal Board of Revenue (FBR) to extend the... Published 31 Oct, 2023 05:26am
Print Ultimate beneficial ownership: Requirements more stringent in income tax law than corporate one: expert ISLAMABAD: The requirements of ultimate beneficial ownership as laid down in the Income Tax law are more stringent... Updated 28 Oct, 2023 09:49am
Business & Finance Japan considering $33bn spending on payouts, tax cut to counter inflation TOKYO: Japan’s government is considering spending around $33 billion for payouts to low-income households and an... Published 26 Oct, 2023 06:08am
Print FBR, Nadra agree to exchange taxpayers’ data ISLAMABAD: The Federal Board of Revenue (FBR) and the National Database and Registration Authority (Nadra) have... Updated 20 Oct, 2023 09:02am
Print World Bank for taxation of agri income, property ISLAMABAD: The World Bank (WB) has recommended taxation of agricultural income and property, withdrawal of... Updated 10 Oct, 2023 11:22am
Print FBR to field DTOs to identify new taxpayers ISLAMABAD: The Federal Board of Revenue (FBR) plans to depute District Taxation Officers Inland Revenue across... Updated 09 Oct, 2023 09:44am
Pakistan Solar panel import scam: FBR tries to put the blame on banks ISLAMABAD: The Federal Board of Revenue (FBR) has tried to put the entire blame on banks for not checking massive... Published 06 Oct, 2023 03:03am
Opinion Improving tax compliance The caretaker government has set up a tax reforms taskforce to come up with recommendations to close the ‘tax... Published 03 Oct, 2023 06:02am
Business & Finance Insurance industry paid Rs34.3bn against taxes, duties in 2022 ISLAMABAD: The insurance industry has paid taxes/duties of Rs34.3 billion to the exchequer during 2022 including... Updated 03 Oct, 2023 08:43am
Business & Finance FBR confirms tax return filing deadline extended by 1 month The Federal Board of Revenue (FBR) on Saturday said the date of date of filing income tax returns for Tax Year 2023... Published 30 Sep, 2023 11:54pm
Print Tax return filing deadline likely to be extended by 1 month ISLAMABAD: The Federal Board of Revenue (FBR) may grant a one-month extension in filing of income tax return forms,... Updated 29 Sep, 2023 09:56am
Business & Finance FBR should provide 90 days for submission of tax returns: PTBA LAHORE: The Pakistan Tax Bar Association (PTBA) has demanded that the chairman of the Federal Board of Revenue ... Published 29 Sep, 2023 06:24am
Print IRIS system’s capacity enhanced: Up to 0.6m taxpayers to file tax returns on a daily basis ISLAMABAD: The Federal Board of Revenue (FBR) has enhanced the capacity of the IRIS system enabling 0.5-0.6 million... Updated 28 Sep, 2023 10:20am
Opinion Super tax for tax year 2023: hiked rate cannot be applied with retrospective effect In our Technical Release 1/2023 relating to the Finance Act, 2023, which was issued on June 9, 2023, our view was... Updated 26 Sep, 2023 07:32am
Business & Finance FBR urges citizens to file income tax return by September 30, 2023 KARACHI: As the fiscal year comes to a close, the Federal Board of Revenue (FBR) urged taxpayers across Pakistan to... Updated 26 Sep, 2023 12:21pm
Business & Finance FBR urged to extend income tax return deadline ISLAMABAD: Tax bar associations, chartered accountant firms, tax advisers and tax experts have approached the... Updated 25 Sep, 2023 09:15am
Print Manual filers declared as active taxpayers by FBR ISLAMABAD: Following intervention of the Federal Tax Ombudsman (FTO), the Federal Board of Revenue (FBR) has... Updated 20 Sep, 2023 09:42am
Opinion Administrative crackdown: will it work? The State’s crackdown against the smugglers and illegal currency traders has met with initial success. The fear... Updated 18 Sep, 2023 07:40am
Print System errors in filing income tax returns, wealth statements irk taxpayers ISLAMABAD: Taxpayers are facing different problems including technical issues/ errors in timely filing of income tax... Updated 18 Sep, 2023 10:26am
Print Govt depts, hospitals, LG and defence institutions: Updated list of FTN recipients issued by FBR FBR to take policy decision on the issuance of the FTNs to the govt authorities including local govt departments and Tehsil municipal authorities seeking tax exemptions Updated 17 Sep, 2023 10:52pm
Opinion Tax expenditure as subsidy to elites: myth or reality? In the last ten or so years, economic issues and tax collection by FBR has been brought increasingly under focus.... Published 12 Sep, 2023 06:51am
Print FBR ‘rues’ WHT deduction on mobile cards ISLAMABAD: The Federal Board of Revenue (FBR) has criticised its policy of withholding tax deduction on mobile... Updated 12 Sep, 2023 09:13am
Print Unchallenged tax demand case: FTO waiting for tax officials’ response ISLAMABAD: The Federal Tax Ombudsman (FTO) is waiting for the response of the Federal Board of Revenue (FBR), Chief... Updated 11 Sep, 2023 09:05am
Print Solar panel imports: Rs73bn illicit fund transfers detected KARACHI: Directorate of Post Clearance Audit (South), Karachi has unearthed a complex web of deceit and fiscal fraud... Updated 06 Sep, 2023 10:25am
Behind the screens: SECP probe into State Life’s equity investment process opens Pandora’s box at PSX?