Draft bill to amend Punjab Agri Income Tax 2024 presented in PA
LAHORE: A draft bill to amend the Punjab Agricultural Income Tax 2024 was presented in the Punjab Assembly on Monday. Parliamentary Affairs Minister Mujtaba Shuja-ur-Rehman introduced the bill. Speaker Malik Muhammad Ahmad Khan referred the bill to the relevant...
IMF has rejected FBR’s request for revision of targets
It's regretted to note that some electronic media channels have aired an absolutely baseless and false story stating that IMF has rejected FBR's request for revision of targets. FBR Out rightly denied that any such meeting has taken place with the IMF It is outrightly...
Board of Revenue GOP
The Board of Revenue West Pakistan was constituted by Ordinances of 1955/1956 which were replaced by the West Pakistan Board of Revenue Act 1957. On dissolution of the Province of West Pakistan in 1970, it was designated as Board of Revenue Punjab. Source :...
FTO directs FBR to address discriminatory sales tax registration
ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 11.854 billion under the head of Worker’s Welfare Fund/Worker’s Profit Participatory Fund in 2023-24 as compared to Rs 10.105 billion, reflecting an increase of 17.3 percent. The FBR’s data revealed that...
FBR Imposes New Conditions on Overseas Pakistanis for Buying and Selling Property
Overseas Pakistanis will now be required to obtain approval from the Commissioner Inland Revenue (FBR) to verify their non-resident status to qualify for the tax rates applicable to “filers” on immovable property transactions. The Federal Board of Revenue (FBR) has...
Another attempt by FBR to take action against Non Filer or Nil Filer
Another attempt by FBR to take action against un-registered rich people including non-filers and nil-filers, targeting high net-worth individuals.In the first phase, the FBR will issue notices to 5,000 non-filers, with an estimated tax liability of Rs7 billion.These...
FTO directs FBR to address discriminatory sales tax registration
ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 11.854 billion under the head of Worker’s Welfare Fund/Worker’s Profit Participatory Fund in 2023-24 as compared to Rs 10.105 billion, reflecting an increase of 17.3 percent. The FBR’s data revealed that...