Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), addresses an event. — National Defense University website/file FBR chairman urges people to pay their taxes. He says the tax rates are wrong and should be corrected. The objective is to bring the richest individuals to net-of-tax income. Slamming the culture of tax evasion … Read more
The Federal Board of Revenue (FBR) has initiated consultations with key stakeholders to finalize proposals for the Federal Budget 2025-2026, focusing on phasing out tax exemptions, increasing revenue generation and rationalization of tax laws. In an official communication to business associations such as Federation of Pakistan Chambers of Commerce and Industry (FPCCI), American Business Council, … Read more
The broker is busy trading at the Pakistan Stock Exchange in Karachi on Wednesday, January 1, 2025. — PPI The capital market opened on a cautious note on Friday, as investors balanced optimism over easing inflation and improving macroeconomic indicators with concerns over rising trade and debt deficits. tax collection. The market showed a mixed … Read more
An undated image of the Federal Board of Revenue (FBR) building in Islamabad. – APPLICATION The FBR has recovered Rs 275 billion as of December 31, 2024. 1,326 billion rupees were collected in December, 47 billion rupees short of the target. FBR repaid Rs272 billion in the first six months of CFY. ISLAMABAD: The Federal … Read more
A trader counts Pakistani rupee notes at a currency exchange office in Peshawar. — Reuters/File The banking sector rate increased from 39% to 44%. The national treasury is expected to receive between 70 and 75 billion rupees in taxes. ADR to be replaced by fixed maximum slab ratios. ISLAMABAD: The federal government plans to add … Read more
Finance Minister Muhammd Aurangzeb (L) attends a press conference alongside FBR Chairman Rashid Mahmood Langrial in Islamabad on December 26, 2024. — Screenshot via Geo News ISLAMABAD: Amid strenuous efforts of Prime Minister Shehbaz Sharif’s government to widen the tax net and increase revenue generation, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has … Read more
A vendor displays different fruits to attract customers at his stall in Hyderabad on February 11, 2023. — APP FBR chief admits revenue leakage of Rs1.2tr in income tax sector. Langrial presented strict measures to improve tax compliance. The official admits that falling inflation has affected revenue collection. ISLAMABAD: Federal Board of Revenue (FBR) Chairman … Read more
Representative image of a trader reading a newspaper while selling betel leaves, cigarettes and sweets in Karachi. — Reuters/File The PM emphasizes the use of video analytics to improve revenue collection. Leads its rapid implementation in cement and tobacco industries. Premier calls for early completion of digitalization of FBR value chain. LAHORE: As the federal … Read more
A representative image showing the FBR logo at its headquarters in Islamabad. — Website/FBR file Declarations of imported goods will be assigned to the CAU according to the new system. Introduction of incentive-based performance management for greater efficiency. Move to bring a major change in the work and overall culture of the Customs Service. ISLAMABAD, … Read more
Representative image showing a person using a calculator for tax purposes. — AFP/File Banks face higher taxes under the revised ADR formula. The end-of-year ADR could move to calculating the annual average. The exclusion of certain advances could increase the tax obligations of banks. Analysts said on Monday that the committee formed by Prime Minister … Read more