Tag Archives: FBR

The Federal Board of Revenue (FBR) has reported an interim revenue shortfall of Rs 601 billion during the first eight months (July to February) of the current fiscal year 2024-25. In February alone, the shortfall stood at Rs 133 billion. On Friday night, a senior FBR official revealed that during …

The Senate Standing Committee on Finance has approved the Income Tax Amendment Bill 2025. During the meeting, the committee was informed that the tax rate on banks’ profits has been increased from 39% to 42%, in addition to a super tax on banks’ income. The session, chaired by Senator Saleem …

Aftab Maken The Federal Board of Revenue (FBR) has decided to tighten its grip on individuals conducting financial transactions that exceed the income declared in their tax returns. FBR Chairman Rashid Langrial emphasized that taxpayers who underreport their income will be identified and brought into the tax net using an …

Aftab Maken Senator Faisal Vawda has alleged that officials of the Federal Board of Revenue (FBR) have threatened him with dire consequences for raising the issue of vehicle purchases. The Chairman of the FBR stated that a high-level inquiry should be conducted into the threats of intimidation. He assured that …

Aftab Maken The Federal Board of Revenue (FBR) said it categorically in meeting of the finance committee that it would block undisclosed incomes and assets. Chairman FBR, Rashid Langrial, further said that only 2.5% of individuals will be affected by the Tax Laws Amendment Bill, and investors in the property …

Aftab Maken The Senate Standing Committee on Finance has voiced strong disapproval of the Federal Board of Revenue’s (FBR) decision to purchase over 1,000 vehicles worth billions of rupees. During a meeting chaired by Senator Saleem Mandviwalla, the committee criticized the procurement and recommended halting it immediately. The controversy began …

The Senate Standing Committee on Finance has approved the Tax Laws (Amendment) Bill 2024. Under the new amendments, non-compliant tax filers will be prohibited from purchasing luxury vehicles, properties, and bungalows. They will also face restrictions on opening bank accounts and purchasing shares. Chairman of the Federal Board of Revenue …

The Senate Standing Committee on Finance convened a meeting here on Tuesday and chaired by Senator Saleem Mandviwalla. Senator Shibli Faraz noted that the required members of the committee were not present to complete the quorum, suggesting the meeting be postponed. No members from Pakistan People’s Party (PPP), Pakistan Muslim …

Staff Report The Ministry of Law and Justice, in collaboration with the Federal Board of Revenue (FBR), successfully concluded a transformative three-day training program for customs prosecutors, says an official release. Held at the National Institute of Banking and Finance (NIBAF), the program aimed to enhance prosecutors’ professional capabilities, equipping …

BeNewz Special The Federal Board of Revenue (FBR) Directorate of Intelligence and Investigation Inland Revenue, Islamabad, has arrested the bank manager of the First Women Bank’s Imperial Court Branch in Karachi in connection with a tax fraud case. According to FBR sources, the accused opened a bank account in the …