The Federal Board of Revenue (FBR), under the Act of Anti-Money Laundering, must ensure that the real estate agents, developers, precious metal and stones dealers, jewelers and FBR supervised accountants are registered as designated non-financial businesses and professions (DNFBP). However, financial institutions, lawyers, law firms, notaries and non-FBR supervised accountants will fall under other competent… Continue reading DNFBPs Obliged to Register with FBR
Islamabad: The chairman of the Federal Board of Revenue (FBR), Dr. Ashfaq Ahmed, indicated on Wednesday that the FBR seeks to collect Rupees 8 trillion of revenue by 2023 which will set Pakistan’s economy in a new direction. While talking to the journalists, Dr. Ashfaq stated that the Prime Minister, Imran Khan, has his vision… Continue reading FBR Aims to Collect 8 Trillion Rupees Revenue By 2023
Islamabad: Federal Board of Revenue (FBR) has increased sales tax rate on supply of food stuff by restaurants, bakeries, caterers and sweet meats shops to 17 percent. The FBR recently issued Circular No. 07 of 2022 to explain amendment introduced in the Sales Tax Act, 1990, through Finance (Supplementary) Act, 2022. Earlier, the tax body… Continue reading FBR Imposes 17% Sales Tax on Bakeries, Restaurants and Sweetmeat.
On Saturday, the tax collection for the first half of the fiscal year 2021-22 (July-Dec) increased by Rs287 billion. According to numbers released by the Federal Board of Revenue (FBR) on Friday night, the provisional revenue collection data for the months of July to December of the current Financial Year 2021-22 have been announced… Continue reading Tax Collection by FBR Surpassed 32.5% in FY 2021-2022’s First Half