Federal Board of Revenue (FBR) on Friday extended the last date for updating taxpayer profile up to June 30, 2021. The FBR issued Circular No. 14 of 2021 on March 26, 2021 to extend the date for updating taxpayer profile from March 31, 2021 to June 30, 2021. The date has been
Tag: FBR
FBR Reduces Penalty Rates for Late Filers
Update Your Tax File Profile Before Deadline or Declare as Non-Filer: FBR
According to the report of ARY News, the FBR directed the tax filers to update their profiles, otherwise the said persons will be declared as non-filers. According to the sources, the filers have to update the contact number, email id, sources of income, profile, filers must also state the business name,
FBR to Introduce Track and Trace System to Stop Tax Evasion
Prime Minister Imran Khan on Tuesday said that Federal Board of Revenue (FBR) is introducing track and trace system to stop tax evasion in some major sectors of the economy. PM Imran Khan, while addressing meeting of federal cabinet, said that lack of automation is primary reason behind tax theft which forces government
No Sale to be Allowed Without Tax Stamp: FBR
Federal Board of Revenue (FBR) on Thursday said that no product would be allowed to be removed from a production site without affixation of tax stamps with effect from July 01, 2021. The tax stamps to be obtained/procured from and applied by FBR’s Licensee M/s. AJCL/MITAS/Authentix Consortium. The FBR said that after
FBR Develop Strategy to Combat Fake Invoices
Federal Board of Revenue (FBR) to review performance of tax offices regarding action taken against fake and flying invoices which caused huge monetary losses to the exchequer in the shape of issuance of bogus sales tax refunds. Sources on Saturday said that FBR chairman Muhammad Javed Ghani would chair an important
FBR Announces Last Date for Taxpayers to Update Profile in ATL and Skip Fine
Taxpayers have been advised to update their profile by March 31, 2021, to avoid penalty and exclusion from Active Taxpayers List (ATL). The last date for updating the profile was December 31, 2020, which was extended by the Federal Board of Revenue (FBR) up to March 31, 2021, considering the problems
FBR Launches First Phase of Pre-Filing in Tax Returns
Federal Board of Revenue (FBR) on Friday said it has launched first phase of pre-filling of some information enabled for individual taxpayers in annual income tax returns. In a statement regarding ongoing reform process, the FBR said that those efforts were bearing fruit. According to the statement, FBR has designed simplified income
FBR Issues Draft Rules for Enrolment in Pakistan Single Window
The Federal Board of Revenue (FBR) on Monday notified draft rules for enrolment in Pakistan Single Window (PSW). The FBR issued SRO 164(I)/2021 to notify draft amendments in Customs Rules, 2001. The revenue body invited feedback from the stakeholders within 15 days for finalisation of the proposed rules. According to the draft