Tue, 21-Oct-2025

Shehbaz Sharif Accuses Government Of Manipulating Revenue figures

Shehbaz Sharif Accuses Government Of Manipulating Revenue figures

Opposition leader in the National Assembly Shehbaz Sharif has criticized the government for allegedly manipulating data to show economic performance. According to the details, Shehbaz Sharif said that the objection raised by the Accountant General of Pakistan to the Federal Board of Revenue (FBR) for Rs1.4 billion has opened the floodgates of official economic data. … Read more

PM Imran Lauds FBR’s Efforts For Achieving A “Historic” Milestone

Kashmir Martyrs Day PM Imran pays tribute

Prime Minister Imran Khan has on Saturday (today) praised the efforts of the Federal Board of Revenue (FBR) for achieving a “historic” milestone of Rs 4,000 billion in any year for the first time ever.

Taking to his Twitter handle, the premier wrote, “I commend efforts of FBR in crossing historic milestone of Rs 4,000 bn in any yr for first time ever. During Jul-May our collections reached Rs.4143 bn & still counting – 18% higher than same period last yr. This reflects broad-based economic revival spurred by govt policies.”

Earlier, the Federal Board of Revenue (FBR) had issued an explanation on the news circulating about the customs duty imposed on mobile phones.

According to the FBR, foreign travellers can register five mobile phones on their passports.

FBR further added that the difference between the payment of customs duty and taxes on a phone worth more than $500 and the registration through an identity card is about Rs 9,000.

The FBR says the V-Book module was being changed to close the gap and allow only one phone under passport registration.

The FBR said efforts were being made to resolve the issue immediately and the technical team was examining the V-book module, adding that the issue of accuracy of duties and taxes would be rectified by tomorrow.

Previously, the Federal Government had appointed Asim Ahmed as the new chairman of the Federal Board of Revenue (FBR).

Asim Ahmed, who is from the Inland Revenue group, is currently serving as Member Information Technology (IT).

The new chairman had replaced the incumbent head of the tax collecting body, Javed Ghani who had retired on April 10.

On the other hand, FBR had warned taxpayers about emails related to the Income Tax Defaulters list.

According to a statement issued by the FBR, the emails related to the income tax defaulters list were fake and these fake emails are asking to check the income tax defaulters list.

According to the FBR, attempts were being made to obtain information through phishing emails, so such fake emails should be completely ignored and immediately informed the concerned authorities.

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FBR Issues Clarification On Excess Customs Duties And Taxes on Mobile Phones

FBR

The Federal Board of Revenue has issued an explanation on the news circulating about the customs duty imposed on mobile phones. According to the FBR, foreign travellers can register five mobile phones on their passports. FBR further added that the difference between the payment of customs duty and taxes on a phone worth more than … Read more

Pakistan in talks with IMF for easing tough conditions

Govt Sets High Economic Growth Targets With IMF Consent

Pakistan has asked the International Monetary Fund (IMF) for a cut in the Federal Board of Revenue’s (FBR) collection target from Rs 5.9 trillion to Rs 5.5 trillion for the upcoming budget. According to the reports, the Pakistani authorities have cited the third wave of the coronavirus pandemic as a reason. The IMF had given … Read more

Finance Minister Shaukat Tareen unveils ‘new strategies’ for stronger economy

Shaukat Tareen

Finance Minister Shaukat Tareen on Wednesday said that the Federal Board of Revenue (FBR) has made notable efforts in enhancing the revenue collection.

According to the details, Shaukat Tareen; while addressing a news conference in Islamabad said that more programs will be announced in the next budget to eliminate harassment to encourage the people to pay taxes.

‘There was the growth of 57 percent in revenue collection in April 2021, as compared to the corresponding period last year.’ Said the Finance Minister; adding that, ‘It is our target to further expand the tax base.’

He said twelve working groups have been constituted in the Economic Advisory Council to frame short, medium, and long-term policies for different sectors.

Shaukat Tareen said that price stability is our key focus and it is the priority of the government to check inflation to provide relief to the common man.

Finance Minister Shaukat Tareen said the scope of social protection will be further expanded under Ehsaas Program. Healthcare, employment, and skills development will also be made part of it.

‘The government is pursuing a policy to take the economy towards growth mode,’ said Tareen; adding that; ‘the goal will be achieved by incentivizing the industries, agriculture and housing sectors, which will also provide job opportunities to the people.’

Speaking about the reforms in the energy sector, Shaukat Tareen said that new reforms in the energy sector will be introduced and spending on the agriculture sector will be increased to strengthen this vital sector of the economy.

He said, ‘We also want to bring Foreign Direct Investment in the export-oriented industries in order to bolster our exports.’

He said there is a great potential for growth in IT. Its exports will remain two billion dollars this year and these can be enhanced to eight billion dollars in the next two to three years.

The Finance Minister said Pakistan will not come out of the IMF program but it will seek space from the financial institution given the current situation of COVID-19.

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PM Imran Lauds FBR’s Efforts For Achieving 57% Revenue Growth In April

PM Imran shares pictures of Buddhist temple on Twitter

Prime Minister Imran Khan has on Saturday (today) commends efforts of the Federal Board of Revenue (FBR) for achieving a “historic” growth of 57% in April 2021 than the previous year.

On his Twitter handle, the premier wrote, “I commend FBR efforts on achieving growth of 57% in April 2021 with collections recorded at Rs.384 bn compared to Rs.240 bn in April 2020. During Jul-Apr collections reached Rs.3780 bn – 14% higher than same period last yr. Shows our policies have led to broad-based econ revival.”

He, via his tweet, also informed that the revenue collection clearly shows shows our policies have led to broad-based economic revival.

Earlier, The Federal Government had appointed Asim Ahmed as the new chairman of the Federal Board of Revenue (FBR).

Asim Ahmed, who is from the Inland Revenue group, is currently serving as Member Information Technology (IT).

The new chairman had replaced the incumbent head of the tax collecting body, Javed Ghani who had retired on April 10.

On the other hand, FBR had warned taxpayers about emails related to the Income Tax Defaulters list.

According to a statement issued by the FBR, the emails related to the income tax defaulters list were fake and these fake emails are asking to check the income tax defaulters list.

According to the FBR, attempts were being made to obtain information through phishing emails, so such fake emails should be completely ignored and immediately informed the concerned authorities.

Read more

Scam Alert: FBR Warns About Emails Related To Income Tax Defaulters List

Scam Alert: FBR Warns About Emails Related To Income Tax Defaulters List

The Federal Board of Revenue (FBR) has warned taxpayers about emails related to the Income Tax Defaulters list. According to a statement issued by the FBR, the emails related to the income tax defaulters list are fake and these fake emails are asking to check the income tax defaulters list. The FBR has warned that … Read more

Government decides to appoint Asim Ahmed as new Chairman FBR

Asim Ahmed

On Friday, the Federal Government has decided to appoint Asim Ahmed as the new chairman of the Federal Board of Revenue (FBR). According to the details, sources said that the federal cabinet has given approval for his appointment. Asim Ahmed, who is from the Inland Revenue group, is currently serving as Member Information Technology (IT). … Read more

Prime Minister Imran Khan commends FBR’s work

Prime Minister

Prime Minister Imran Khan on Wednesday commended the Federal Board of Revenue (FBR) for its efforts in achieving historic growth in March collections. According to the details, the Prime Minister took to his Twitter handle and wrote: I commend FBR efforts, achieving historic growth of 41% in March ’21 with collections recorded at Rs.460 bn. … Read more

FBR Extends Deadline For Updating Taxpayers’ Profile

FBR Extends Deadline For Updating Taxpayers' Profile

The Federal Board of Revenue (FBR) has extended the date for updating taxpayers’ profile for the second time. According to the details, the FBR has issued a circular according to which the last date for updating the profile of taxpayers has been extended till June 30, 2021. The circular further added that the tax profile … Read more

Pakistan, Saudi Arabia eye cooperation in fields of customs & tax

Pakistan Saudi Arabia

Pakistan and Saudi Arabia have on Saturday agreed to further promote cooperation in the fields of customs and tax. On Saturday, Saudi Arabia’s Ambassador to Pakistan, Nawaf Saeed Al-Malikey called on Chairman Federal Board of Revenue Muhammad Javed Ghani in Islamabad. During the meeting, it was agreed that relevant departments of both countries would learn … Read more

FBR to take strict actions against major tax defaulters, sources

FBR Extends Deadline For Updating Taxpayers' Profile

The Federal Board of Revenue (FBR) has announced that it would take action against major tax defaulters who did not submit their returns for 2020, sources said on Monday.

According to sources, a list of 25 major tax defaulters has been sought from all large taxpayers’ offices (LTOs).

The LTOs have been directed to submit the lists of top 25 tax defaulters within two weeks.

The FBR has so far issued tax notices to 1.4 million tax defaulters, added sources.

Earlier, FBR had withdrawn additional customs duty on the import of some raw materials.

Additional customs duty had been withdrawn of the import of raw materials of around 174 tariff lines.

Sources said that FBR had issued SRO 81(I)/2021 dated January 22, 2021, to abolish additional customs duty on import of raw materials of 174 tariff lines.

The SRO has been issued to comply with the decision of the Economic Coordination Committee (ECC) meeting held on January 06, 2021.

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Will ban of Rs5000 note help tackle widespread corruption, tax evasion?

Rs5000 Note ban

Banning Rs5000 currency note in Pakistan has been the most discussed debate to avoid bankruptcy and help improve the economy and banking sector. The ban will also help end bribery in the country.

However, in this regard, renowned business tycoon Aqeel Karim Dhedhi highlighted his views over banning Rs5000 note.

In a detailed discussion in BOL News’ talk-show Abb Baat Hogi with Faysal Aziz Khan, Aqeel Karim said that instead of banning, the government should focus on improving the corrupt system of Pakistan.

He further added that the Federal Board of Revenue (FBR) should take immediate steps to end corruption and bribery rather than banning the currency note.

The business tycoon said that there is no such thing that corruption only stands with the higher currency, it all depends over the corrupt system.

Further in his discussion with the host, Aqeel Karim asked whether Pakistan plans to work in Dollars or Euros or the business community would face challenges with the currency loss.

Somehow the move can help stabilize Pakistan’s existing problems but if the move is taken suddenly then it can also lead to chaos, he added more.

Watch Full Episode Here:

https://youtu.be/dyBH7Jl180s

Earlier, former FBR chairman Shabbar Zaidi believes that the government should go for the demonetization of the Rs5000 note from July onwards.

“5000 Rupee Notes. Demonetize from July 1, 2021. Announce two months earlier,” said Zaidi in a tweet. The accountant said that in order to go through with the demonetization the government should announce a “transition” period so that the plan goes smoothly.

He had also suggested that those hoarding gold in lockers should have to inform the government if bullion is being held and the government should also monitor bullion trading.

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PM Directs To Send Notices To Sugar Mill Owners For Evading Taxes Worth Billions

Rs4.143 Trillion Revenue Collected In First 11 Months OF Current FY

Prime Minister Imran Khan has directed to issue notices to the owners of sugar mills involved in tax evasion. During the meeting of the Federal Board of Revenue (FBR) in Islamabad, the Prime Minister expressed frustration over the non-amendment of the law on concealment of tax details. The Prime Minister said that it was a … Read more

veteran singer rahat fateh ali khan receives notice from FBR

rahat fateh ali khan

Pakistani veteran singer Rahat Fateh Ali Khan received notice from the Federal Board of Revenue (FBR). Previously, FBR also sent a notice to Star singer Atif Aslam who didn’t pay his tax of Rupees 58 million on his properties. Now FBR sent another notice to big names of the Pakistani entertainment industry. Veteran singer Rahat … Read more

Taxpayers Are Benefactors Of Pakistan Who Deserve A Tribute: PM

PM Imran Khan twitter overseas Pakistanis

Prime Minister Imran Khan has termed the country’s taxpayers as deserving of tribute and said that they are benefactors of Pakistan. The Prime Minister was briefed on tax reforms in Islamabad. According to a statement issued from the Prime Minister’s House, the meeting was informed that tax collections have exceeded Rs 2,205 billion during the … Read more

PM requested to direct FBR on tax filing date extension

PM

On Tuesday, the Karachi Chamber of Commerce and Industry (KCCI) appealed to Prime Minister PM Imran Khan to direct the Federal Board of Revenue (FBR) to prolong the date of filing income tax returns to 60 days. According to the details, in a letter to PM; the president of the Karachi Chamber of Commerce and … Read more

FBR requested to extend deadline for filing tax returns till January 2021

FBR

Pakistan Tax Bar Association (PTBA) on Monday appealed the Chairman of Federal Board of Revenue (FBR) to prolong the deadline for filing tax returns by 60 days. According to the details, PTBA President Aftab Hussain Nagra in his letter to the FBR chairman, said that the last date should be extended till January 31st 2021, … Read more

FBR plans to bring 7.4 million non-filers into tax net

FBR

The Federal Board of Revenue (FBR) has developed a plan to bring 7.4 million non-filers into the tax net by using the Tax-Ray portal on IRIS. IRIS is an online portal where Income Tax Return is filed. Special Assistant to PM on Revenue Dr. Waqar Masood, said that FBR has served tax notice to 70,000 … Read more

Pakistan Customs Authorities seize drugs worth 80 million rupees

Drugs seized in Quetta

The smuggling of narcotics is seemingly increasing throughout the nation which is why the Pakistan Customs Authorities have to be alert and quick to respond to such attempts. A raid was executed in Quetta near Noshki by the Model Customs Collectorate (MCC). They managed to get their hands on 8.8 kg of ICE and 5.040 … Read more

PML-N Vice President Maryam Nawaz Challenges FBR notice

Maryam Nawaz

Pakistan Muslim League Nawaz (PML-N) Vice President Maryam Nawaz, daughter of former prime minister Nawaz Sharif has filed an appeal in the Lahore High Court (LHC) challenging a notice by the Inland Revenue department of the Federal Board of Revenue (FBR) for recovery of income support levy.

According to the details, Maryam Nawaz through her counsel moved the appeal assailing an LHC single bench’s verdict regarding income support levy, citing the Federal Board of Revenue and other relevant officials as respondents.

The appellant states that she has been served a notice by the Federal Board of Revenue for recovery of Rs 657,000 income support levy despite the fact that she had paid all taxes and requested the court to declare it illegal.

LHC disposes of Petition

It should Last year in May, the LHC had disposed of a petition filed by the PML-N vice president against the Federal Board of Revenue’s (FBR) notice for recovery of income support levy.

Justice Abid Aziz Sheikh directed her to file an appeal challenging a single bench’s verdict in this regard.

Lawyer of Maryam Nawaz had contended before the court that the recovery of income support levy is a violation of the country’s Constitution as the Inland Revenue department lacked authority to impose and recover a tax in the name of social protection after the passage of the 18th Constitutional Amendment.

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FBR releases revenue collection details of first two months

FBR releases revenue collection details of first two months

ISLAMABAD: The Federal Board of Revenue (FBR) has released the details of revenue collection of two months of current financial year. According to FBR officials, the tax revenue in the first two months of the current financial year exceeded the target of Rs 593 billion as against the target of Rs 551 in July and … Read more

IMF to hold important meeting with Islamabad authorities very soon

IMF

International Monetary Fund IMF has decided to hold virtual meeting of its mission with Islamabad’s authorities ‘very soon’ in the aftermath of pandemic COVID-19. This review talks through virtual meetings expected to take place by end of ongoing month or early May 2020. IMF has prepared strategy to bridge the gap of revenues through not … Read more

Nausheen Javed Amjad appointed as new FBR Chief

Nausheen Javed Amjad

The Federal Cabinet on Monday approved the appointment of Nausheen Javed as the new Chief of Federal Board of Revenue. In the absence of the former FBR chief Shabbar Zaidi, the officer had taken charge as acting chair of the revenue body back in February. Ms Nausheen, who is from Inland Revenue Services, was performing … Read more

FBR organizes event at Packages Mall to create awareness about Point of Sale

FBR

The Federal Board of Revenue (FBR) organized an event at Packages Mall,Lahore to create awareness among people about the Point of Sale (PoS), the linked invoicing system of the board. Designated officers of FBR HQ led by Chief, Facilitation & Taxpayers Education Tehmina Aamer participated in the programme, according to FBR statement issued here adding … Read more

FBR generates RS320 billion tax in January 2020

FBR tax

Federal Board of Revenue (FBR) on Saturday announced that it generated Rs320 billion in terms of tax revenue during January 2020. FBR said they generated an amount of 17 percent more from the same month of the previous year. The FBR spokesman further announced a 30 percent increase in internal tax collection. “This collection unprecedented … Read more

Business owners are now bound to collect CNIC

CNIC

Business owners are now bound to collect the copies of computerized National identity cards (CNIC) at the transaction of 50,000 and above, from today (Saturday). Federal Board of Revenue (FBR) had given relaxation on this mandatory condition till January 2020 and the deadline had come to an end, now the law comes into force. Small … Read more

The Federal Board of Revenue finds 10,000 people involved in money laundering

Federal Board of Revenue

The Federal Board of Revenue (FBR) investigations unearthed that close to 10,000 people allegedly involved in tax evasion and money laundering. The Federal Board of Revenue after tracing their cash transactions unearthed regarding this matter. The bureau is also looking into affairs of (NGOs) and (INGOs) for their alleged involvement in money laundering and terror … Read more