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DNFBPs Obliged to Register with FBR

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

FBR Aims to Collect 8 Trillion Rupees Revenue By 2023

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

FBR Raids Gul Plaza for Tax Violators

Karachi:Federal Board of Revenue (FBR) officials raided the infamous Gul Plaza in Karachi. The raid took place on Monday with officials taking hold of the critical financial record and sealing the shops of the tax violators. FBR reportedly said that they had previously sent the tax notices to the shop owners a week ago and… Continue reading FBR Raids Gul Plaza for Tax Violators

Tax Laws (Fourth) Amendment Bill: 17 pc GST on Various Items by FBR

ISLAMABAD: Under the Tax Laws (Fourth) Amendment Bill, 2021, the Federal Board of Revenue (FBR) proposes to levy Rs.350 billion sales tax on a wide range of items, including a 17 percent sales tax on the import of LPG, mobile phones, computers, plant, machinery/equipment, and a lower rate of sales tax on the import of… Continue reading Tax Laws (Fourth) Amendment Bill: 17 pc GST on Various Items by FBR