The Caretaker Federal Government is in the process of establishing a National Tax Authority as part of its broader reform agenda for the Federal Board of Revenue (FBR), according to sources. FBR Chairman Amjad Zubair Tiwana recently briefed Caretaker Prime Minister Anwar-ul-Haq Kakar on the ...

The Federal Board of Revenue (FBR) has announced an intensified initiative against non-filers of income tax, notifying the International Monetary Fund (IMF) of the proposed plan. In addition to sending notices, the FBR plans to implement various administrative measures and has compiled data on ...

The International Monetary Fund (IMF) has insisted that Pakistan implement taxes on the retail, real estate, and agriculture sectors. This demand surfaced during the ongoing technical-level discussions between Pakistan's economic team and a visiting IMF delegation. As negotiations progressed, ...

The Federal Board of Revenue (FBR) in Pakistan has given assurances to the International Monetary Fund (IMF) mission during their visit that they will not introduce any new tax amnesty scheme. This development comes as discussions are in progress for the release of the next $710 ...

Islamabad: The Federal Board of Revenue (FBR) officials expressed reservations about ending the income tax exemption on a monthly income of 50,000 rupees, stating that the tax exemption will continue. According to details, negotiations with the International Monetary Fund (IMF) are underway at ...

Karachi: The Federal Board of Revenue (FBR) has announced that it will not extend the deadline for the collection of income tax returns. According to the details, the last date for collecting income tax returns is October 31. The FBR authorities have stated that there will be no further extension ...

Individuals who manually file their income tax returns will now be eligible for the same tax benefits as those who file electronically.Manual income tax filers will receive reduced rates of withholding taxes, aligning with electronic filers. The Federal Tax Ombudsman (FTO) has directed the ...

World Bank has highlighted that Pakistan is currently collecting less tax revenue than it has the potential to collect. The report indicates that Pakistan falls short of collecting Rs737 billion in taxes. The World Bank recommends that Islamabad eliminate all tax exemptions to alleviate the ...

Islamabad: The Federal Board of Revenue (FBR) has decided to audit retailers and real estate tax filers who submit income tax returns. According to details, the FBR has announced a new strategy to combat tax evasion, and it includes auditing the tax returns of retailers and real estate tax ...

The Pakistan Business Council (PBC) has urgently called upon interim Finance Minister Dr. Shamshad Akhtar to address a significant revenue shortfall amounting to approximately Rs. 1 trillion due to the issue of under-invoicing in imports. This matter has been brought to the forefront by the PBC, ...