Tag: FBR
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Pakistan seeks global assistance to overhaul tax system amidst significant drop in active taxpayers
In a significant development, the count of active taxpayers has dwindled to 3.4 million, marking a 41 per cent decrease from the previous year. The government is contemplating seeking financial support from the Bill and Melinda Gates Foundation to enhance digital services within the Federal Board of Revenue (FBR).
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FBR collects Rs5.15 trillion in taxes in less than eight months
The Federal Board of Revenue (FBR) has revealed that it has achieved a remarkable milestone by collecting revenue amounting to Rs5.15 trillion from July 2023 to mid-February 2024.
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FBR grants importers, wholesalers direct access to digital invoicing
The Federal Board of Revenue (FBR) has granted permission to importers, manufacturers, and wholesalers/dealers/distributors of fast-moving consumer goods to seamlessly integrate their electronic invoicing system with the FBR’s digital invoicing platform, eliminating the requirement for licenced integrators.
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FBR surpasses Rs1 trillion tax collection milestone in December
Federal Board of Revenue (FBR) announced the unprecedented collection of over Rs1 trillion in December, marking the first instance of such a milestone.
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Non-filers may face bank account suspension, travel bans: FBR
The Federal Board of Revenue (FBR) has issued a stern warning to individuals who have not filed their income tax returns, stating that they could face severe consequences, including the suspension of bank accounts and restrictions on both domestic and international travel via motorways and air travel.
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Pakistan forms new body led my three-star military general to expand tax base
The government has established a new committee, led by a three-star military general, to oversee data integration efforts aimed at expanding the tax base.
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FBR restructuring: 145 offices set up to add 2 million new taxpayers
In a bid to streamline operations, the Federal Board of Revenue (FBR) has set up 145 district tax offices, aiming to bring in 1.5 to 2 million new taxpayers by June 2024.
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FBR restructuring: Govt plans to separate Customs and revenue collection system
Caretaker Finance Minister Dr Shamshad Akhtar has announced that the government is implementing significant restructuring measures within the Federal Board of Revenue (FBR) to eliminate apparent conflicts of interest in tax collection and enhance overall performance.
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IMF pressures Pakistan for tax reforms, calls for intensified recovery efforts
The International Monetary Fund (IMF) is urging Pakistan to intensify efforts towards tax recovery.
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Largest money laundering scandal: FBR exposes Rs47 billion trade-based fraud
The Federal Board of Revenue (FBR) in Pakistan has uncovered a massive case of money laundering and under-invoicing in the trade industry, making it one of the country’s biggest financial scandals.