FBR completes FATF actions on DNFBPS ahead of deadline

Islamabad, October 21, 2021 (PPI-OT):FBR has completed actions on DNFBPs in the FATF action plan in just one reporting cycle and one year ahead of the deadlines in September 2022. The FATF plenary in its public statement has noted that Pakistan has now satisfied the requirements of most of its action items under the 2021 action plan, ahead of deadlines and in its first reporting cycle.
In June 2021, the FATF plenary Read More…

Record high number of returns received by FBR 

Islamabad, October 16, 2021 (PPI-OT):Federal Board of Revenue (FBR) has received the highest number of returns ever in its history on 15th October, 2021. As the fifteen days extended deadline ended at midnight on Friday, FBR had already received a staggering number of 2.6 Million returns and collected Rs. 48.6 Billion tax with returns as against 1.8 Million returns and 29.6 Billion tax paid with returns on 8th DecembRead More…

Commitment shown in the Board-in-Council meeting to collect substantial revenue in the second quarter

Islamabad, October 09, 2021 (PPI-OT): The 5th Board-in-Council meeting of Federal Board of Revenue was held under the chairmanship of Dr. Muhammad Ashfaq Ahmed, Chairman FBR. The Board-in-Council members deliberated upon the decent growth of 38.3 % in revenue collection for the first quarter (July-September) of the current FY 2021-22 and conveyed their appreciation for the field formations. The net revenue collectionRead More…

Lord Wajid Khan calls on Chairman FBR

Islamabad, October 08, 2021 (PPI-OT):Lord Wajid Khan, a member of the House of Lords, England called on Dr. Muhammad Ashfaq Ahmed, Chairman Federal Board of Revenue here at FBR HQs on Thursday. During the meeting, Lord Wajid Khan congratulated the Chairman on assuming the office of the country’s premier tax collecting organization and appreciated the team FBR for showing an exceptional performance in maximizing revRead More…

FBR develops single sales tax portal to facilitate taxpayers

Islamabad, October 08, 2021 (PPI-OT):Building further on its ongoing drive for digitization and automation of various processes involved in revenue collection, Federal Board of Revenue (FBR) has developed “Single Sales Tax Portal” to facilitate the taxpayers and ensure the ease of doing business.
This watershed development of the Single Tax Portal developed by FBR is the outcome of various rounds of negotiations Read More…

FBR urges taxpayers to file income tax returns without delay

Islamabad, October 08, 2021 (PPI-OT):Federal Board of Revenue (FBR) has once again urged all the taxpayers, both old and new, to make the most of one-time extension of 15 days granted for filing of Income Tax Returns till 15th October, 2021. Therefore, they are advised to file their returns without delay as the given deadline is already fast approaching. It is further reiterated that the timely Filing of Income Tax RRead More…

FBR issues clarification on news item

Islamabad, October 08, 2021 (PPI-OT):Federal Board of Revenue (FBR) has issued a clarification about a news item appearing in Daily Express Tribune wherein it is alleged in the news story that FBR had directed all Commissioners (Appeals) to report to the heads of Regional and Large Tax Offices. FBR has clarified that the news item reflects misunderstanding and out of context reference of Legal Wing’s letters dated Read More…

Minister for Finance and Revenue inaugurates track and trace system of FBR at Jhelum

Islamabad, October 01, 2021 (PPI-OT):Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, inaugurated the much awaited Track and Trace System of Federal Board of Revenue (FBR) on Friday here at Pakistan Tobacco Company Jhelum. This special ceremony was also attended by Chairman FBR Dr. Muhammad Ashfaq Ahmed along with Mr. Qaiser Iqbal, Member (IR Operations) and Mr. Tariq Sheikh, Project Director (TTS). The CRead More…

FBR registers historic revenue collection growth of 38.3% in first quarter of current financial year

Islamabad, September 30, 2021 (PPI-OT):Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the first quarter of current FY 2021-22. According to the provisional information, FBR has collected net revenue of Rs. 1,395 billion during the first quarter of the current Financial Year against the set target of Rs. 1,211 billion, exceeding by Rs. 186 billion.
The net collection for theRead More…

No extension in the date of filing of income tax returns for tax year-2021 

Islamabad, September 29, 2021 (PPI-OT):The Federal Board of Revenue has re-iterated its position that there shall not be any extension in the statutory date of filing of income tax returns for Tax Year 2021. The last date of filing of income tax returns for Individuals, AOPs and companies having special tax year is 30th September, 2021. FBR has stated in a press release that the system is working seamlessly and arounRead More…