Recently, the Federal Board of Revenue (FBR) introduced a significant change to the login system of its tax filing service, IRIS. According to this new policy, all users’ login passwords will expire every 60 days, requiring them to reset their passwords afterward. While this step aims to enhance security, it has also introduced several challenges, … Read more
Pakistan’s real estate market has been facing a significant downturn in recent years due to heavy taxation, complex regulations, and limited investment opportunities. However, the Task Force for Housing Sector Development has proposed revolutionary tax reforms for 2026 to revive this crucial sector, attract investment, and strengthen the national economy. Key Tax Reform Proposals The … Read more
The Federal Board of Revenue (FBR) recently introduced an update to streamline tax exemptions for non-resident Pakistanis holding Pakistan Origin Cards (POC) or National ID Cards for Overseas Pakistanis (NICOP). This change, brought forward through the Finance Act of 2022, is aimed at simplifying the tax processes for these individuals. Here’s what you need to … Read more
The Federal Board of Revenue (FBR) can analyze the top 5% of taxpayers through a systematic and data-driven approach. Here’s how they might accomplish it: 1. Utilizing Income and Asset Data 2. Sectoral Analysis 3. Data Mining and AI Tools 4. Cross-Verification 5. Monitoring High-Value Transactions 6. Taxpayer Segmentation 7. Audits and Surveys Benefits of … Read more
Registering with the Federal Board of Revenue (FBR) is crucial for individuals and businesses in Pakistan to comply with tax regulations. If you’re planning to register but don’t know where to start, this guide will walk you through the process. Step 1: Visit the FBR IRIS Portal First, navigate to the official FBR IRIS portal … Read more
اسلام آباد: فیڈرل بورڈ آف ریونیو (ایف بی آر) نے اپیلٹ ٹربیونلز میں تعینات ان لینڈ ریونیو افسران کی تقرری ختم کرنے کی تجویز دے دی ہے۔ اس اقدام کا مقصد مفادات کے ٹکراؤ کو روکنا اور عدالتی عمل کو زیادہ غیر جانبدار بنانا ہے، اے آر وائی نیوز نے ذرائع کے حوالے سے رپورٹ … Read more
FBR’s major crackdown on tax evasion: 190,000 notices issued, Rs7.1 trillion tax gap targeted, and a stern warning to non-compliant taxpayers! The recent statement by FBR Chairman Rashid Mahmood Langrial underscores the growing urgency to address Pakistan’s chronic tax evasion problem. While the announcement reflects a much-needed focus on accountability and systemic reform, several critical … Read more
Tax Law (Amendment) Bill, 2024: stricter compliance for non-filers, restrictions on property and bank transactions, real-time tax reporting, and enhanced enforcement measures to curb tax evasion 1. Title and Commencement 2. Amendments to the Sales Tax Act, 1990 3. Amendments to Islamabad Capital Territory (Tax on Services) Ordinance, 2001 4. Amendments to the Income Tax … Read more