Islamabad, August 13, 2022 (PPI-OT):Federation Board of Revenue (FBR) has categorically rebutted a news item appearing for the last couple of days in some newspapers with reference to the revision of SRO.1640(I)/2019 relating to China-Pakistan Free Trade Agreement (CPFTA). The subject news item gave an impression as if Federal Board

Islamabad, August 05, 2022 (PPI-OT):Building further on its ongoing drive for digitalization, the Federal Board of Revenue (FBR) is all set to upgrade its key IRIS system in order to improve its operation, enhance its security, and add a new Graphic User Interface (GUI). Changes in the underlying architecture of

Islamabad, July 31, 2022 (PPI-OT):Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the month of July, 2022. According to the provisional information, FBR has collected net revenue of Rs. 458 billion during July 2022, which has exceeded the target of Rs 443 billion by Rs

Islamabad, July 30, 2022 (PPI-OT):Federal Board of Revenue (FBR) has categorically rebutted the contents of the two back-to-back tweets dated 29th July 2022 made by Mr. Shaheen Sehbai on the above-captioned subject alleging that, “Credible insiders say within days after Shahbaz Sharif took office as PM, a plane with 245

Islamabad, July 02, 2022 (PPI-OT):Federal Board of Revenue (FBR) has stated that Federal Excise Duty is chargeable on Club, Business and First class international air tickets under Section 3 of the Federal Excise Act, 2005. Furthermore, sub-rule (8) of the rule 41A stipulates that FED is chargeable at the time

Islamabad, July 01, 2022 (PPI-OT):Federal Board of Revenue (FBR) has uploaded the Income Tax Return Forms for Tax Year-2022. Separate Income Tax Return Forms for Salaried, Association of Persons(AOPs), Business Individuals, and Companies have been uploaded. The Income Tax Returns can be filed through FBR’s Web Portal (Iris System), and

Islamabad, June 30, 2022 (PPI-OT):Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the Fiscal Year 2021-22. FBR has collected net revenue of Rs. 6,125 billion during the current fiscal year (July 21-June 22), which has exceeded the upward revised target of Rs. 6,100 billion by

Islamabad, June 26, 2022 (PPI-OT):Federal Board of Revenue (FBR) has taken an exception to a statement issued by Pakistan Software Houses Association (P@SHA) dated 25th June, 2022. It has reported some facts regarding the exemptions/tax incentives / facilitation given to the IT and IT enabled export services through the Federal