FBR Receives Record Number of Income Tax Returns for FY2024
Islamabad, Pakistan – The Federal Board of Revenue (FBR) has received a record number of income tax returns for the tax year 2024. As of September 17, 2024, the FBR has […]
Supreme Court Restores 10% Tax Credit for Machinery Imported Before 2019
Islamabad, Pakistan – The Supreme Court of Pakistan (SC) has restored a 10% tax credit for individuals who imported and installed machinery before June 30, 2019. The SC’s decision overturned a […]
FBR Struggles to Resolve Rs. 3.76 Trillion in Pending Tax Cases
Islamabad, Pakistan – The Federal Board of Revenue (FBR) is facing significant challenges in resolving a backlog of tax cases worth Rs. 3.76 trillion. These cases are pending before various courts, […]
FBR Proposes Changes to Income Tax Rules, Defining “Active Taxpayers’ List”
The Federal Board of Revenue (FBR) of Pakistan has proposed amendments to the Income Tax Rules, 2002 vide S.R.O. 1448(I)/2024. These amendments focus on defining and managing the “Active Taxpayers’ […]
Court Dismisses Petition Seeking Relief for Mistaken NTN Posting
Lahore, Pakistan – An Additional District & Sessions Judge in Lahore has dismissed a petition seeking relief for a mistaken NTN number posting in a sales tax return. Zafar Iqbal Bhatti, […]
Government Raises ATIR Case Value Limit to Rs. 50 Million
Islamabad, Pakistan – The Federal Government has increased the powers of single-member Appellate Tribunal Inland Revenue (ATIR) to decide cases up to Rs. 50 million. This decision aims to expedite case […]
CAA Takes Tax Dispute to Supreme Court, Challenging FBR Demand
Islamabad, Pakistan – The Civil Aviation Authority (CAA) has escalated a tax dispute with the Federal Board of Revenue (FBR) to the Supreme Court of Pakistan. The CAA is challenging the […]
FBR Fails to Justify Capital Gains Tax Demand on Merging Companies
Lahore, Pakistan – The Federal Board of Revenue (FBR) has faced a setback in its attempt to impose additional capital gains tax on a public limited company that merged with its […]
Establishment Division Orders FBR to Address Corruption and Inefficiency
Islamabad, Pakistan – The Establishment Division has directed the Federal Board of Revenue (FBR) Chairman to take action against corrupt practices and inefficient elements within the FBR that may be discouraging […]
FBR to Outsource Audits to Detect Tax Evasion
Islamabad, Pakistan – The Federal Board of Revenue (FBR) is planning to outsource audits of high-net-worth individuals and companies to detect potential tax evasion. The FBR aims to hire audit firms […]