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Results for “FBR” (28)

Hafsa Mustafa Posted in Politics

National Assembly approves Budget 2026-27 with revised duties

The National Assembly has approved Budget 2026-27, with the Finance Bill outlining revised duties on imported vehicles, stricter Federal Board of Revenue (FBR) compliance rules and electronic filing requirements. According to the Finance Bill 2026-27, from July 1, imported vehicles from 2,000cc to 3,000cc will face 86% duty, while 3,001cc imported vehicles will be subject to 92% duty. Read More…

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Hafsa Mustafa Posted in Uncategorized

FBR finds customs officers, MRAs involved in regularisation of smuggled vehicles

The Federal Board of Revenue (FBR) has unearthed a major scandal and found Customs officers involved in collusion with the Motor Registration Authorities (MRAs) and car dealers in the regularisation of over 100 smuggled vehicles, The News reported on Thursday. It may be recalled that in order to strengthen control mechanisms and prevent the misuse of auctioned vehicles, FBR in August 2021 introduced the "Auction Module" in its WeBOC system. This system enhancement was aimed at addressing the issue of multiple vehicles being registered against documents issued by Customs after… Read More…

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Sanniah Hassan Posted in Business

FBR Shifts Tajir Dost Scheme Focus to High-Potential Retailers

The Federal Board of Revenue (FBR) has revised the Tajir Dost Scheme, halting market surveys and the registration of small shopkeepers and retailers. Following discussions with Chief Coordinator Muhammad Naeem Mir, the FBR will now concentrate on wholesale markets and upscale retail areas, aiming to enhance tax revenue by targeting businesses with significant income potential. Read More…

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Hafsa Mustafa Posted in Uncategorized

FBR exceeds July-March tax collection target

The Federal Board of Revenue (FBR) has exceeded its nine-month target for fiscal year 2023-24 by Rs 3 billion, collecting Rs 6710 billion tax. Talking to media, FBR Spokesman Afaq Qureshi said that the tax revenue target for the first three quarters of the current fiscal year was Rs 6707 billion. He said that the actual tax revenue collected was Rs 6710 billion, Rs 3 billion more than the target. The FBR also refunded Rs 369 billion from July 2023 to March 2024, the spokesman said. Read More…

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Alina Hashmi Posted in Business

FBR deputes officials to monitor sugar production, sales

Islamabad: The Federal Board of Revenue (FBR) invoked Section 40-B of the Sales Tax Act 1990 and deputed field formation for monitoring of sales of sugar production at all sugar mills across the country. The tax officers at the sugar mills across the country would check the clearance of stocks through the manually installed system of tax stamps on sugar bags. Under the said enforcement provision of the sales tax law, the FBR or chief commissioner may post an officer of Inland Revenue to the premises of a registered person… Read More…

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Hafsa Mustafa Posted in Uncategorized

FBR deploys special teams in sugar mills

The Federal Board of Revenue (FBR) has taken another step to curb tax theft and deployed special teams to monitor sugar mills across the country. The FBR spokesperson said in a statement that field formation teams have been deployed in sugar mills across the country. The statement read that sugar was one of the notified commodities being monitored by the state. Read More…

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Hafsa Mustafa Posted in Politics

FBR officer seeks permission for corruption in letter to PM

In a bizarre request, a Federal Bureau of Revenue (FBR) officer has sought permission for corruption in a letter to Prime Minister Shehbaz Sharif to address the domestic expenses amid soaring inflation. In a viral letter, the FBR of the Inland Revenue Service (IRS) has sought permission for corruption as he is facing difficulties to meet the expenses due to his low salary. Read More…

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Alina Hashmi Posted in Politics

FBR fails to meet sales tax collection target

Lahore: Federal Board of Revenue (FBR) failed to meet its six-month (July-Dec) target for sales tax collection according to a report released by the Finance Ministry. The sales tax collection target for the ongoing fiscal year 2022-23 (FY 2022-23) was fixed at Rs. 3,076 billion with a six-month target of Rs. 1,538 billion. However, the FBR succeeded in collecting only Rs. 1,272 billion, falling Rs. 266 billion short of the target. Read More…

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