The Federal Board of Revenue (FBR) has imposed a 40% Regulatory Duty (RD) on the commercial import of old and used vehicles, according to a notification issued on Wednesday. The duty applies to vehicles under PCT headings 8702, 8703, 8704, and 8711 of the Customs Act, 1969, imported under clause (xvi) of Serial No.10 of […]
Federal Board of Revenue
Govt imposes 40% extra duty on used car imports
The federal government has imposed an additional 40 percent regulatory duty on the commercial import of used vehicles, following cabinet approval. The Federal Board of Revenue issued a notification confirming the decision, clarifying that this duty will apply in addition to all existing import duties already being charged on imported cars. According to the official […]
Income tax returns must be filed by Sept 30, clarifies FBR
The Federal Board of Revenue (FBR) has categorically dismissed reports of any extension in the deadline for filing income tax returns for the tax year 2025, reaffirming that September 30 remains the final date for filing. In a statement released on Monday, the FBR said it has taken notice of unverified reports circulating on various […]
FBR makes property value disclosure must in income tax returns
The Federal Board of Revenue (FBR) has introduced significant changes to the income tax return form on its online IRIS portal, making it mandatory for taxpayers to disclose the market value of their assets. The move comes only days before the September 30 deadline for filing tax returns. In a bid to tighten compliance, the […]
FBR cracks down on tax-evading jewellers
The Federal Board of Revenue (FBR) has initiated a crackdown against jewellers who are either paying less tax or remain outside the tax net. Notices have been served in several major cities, including Islamabad, Rawalpindi, Faisalabad, and Multan, with officials warning that tax evaders will face strict action. According to FBR officials, Pakistan’s jewellery business […]
FBR signs deal with LUMS on diploma programme for its officers
The Federal Board of Revenue (FBR) has signed a landmark agreement with the Lahore University of Management Sciences (LUMS) for the design and delivery of a customized Postgraduate Diploma (PGD) Programme for FBR officers. The initiative is aimed at strengthening the professional capacity of Pakistan’s tax administration. The signing ceremony was held at the FBR […]
FBR eyes action against non-filer social media influencers
The Federal Board of Revenue (FBR) has decided to take strict action against non-filer social media influencers. According to sources, a list of those who submit their income tax returns by September 30 is being prepared, after which large-scale operations will begin in October. Sources said that details of non-filer influencers who flaunt their wealth […]
High-level Pakistan delegation to discuss US tariffs in Washington
Pakistan and the United States are set to begin official talks soon to address trade tariffs and economic issues. A high-level Pakistani trade delegation will visit Washington this week to discuss recent US tariffs and related economic concerns with American officials. This visit marks an important step in improving bilateral trade relations. The delegation, led […]
Prime minister launches new performance system for FBR officers
Prime Minister Shehbaz Sharif introduced a new Performance Management System for the Federal Board of Revenue (FBR) on Friday. This new system aims to enhance accountability and efficiency within Pakistan’s tax collection framework. It will grade FBR officers from “A” to “E,” based on their performance and integrity. Promotions, incentives, and penalties will depend on […]
PM Shehbaz urges tax reforms to end Pakistan’s IMF dependence
Prime Minister Shehbaz Sharif emphasized the need for Pakistan to increase its revenues urgently. During a visit to the Federal Board of Revenue (FBR) headquarters, he highlighted the dangers of relying on borrowing. He stated that reducing dependence on the International Monetary Fund (IMF) requires substantial economic reforms. Sharif pointed out that rising public debt […]