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The Federal Board of Revenue (FBR) (Urdu: وفاقی بورڈ محصولات), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax ...
According to new Tax Laws (SRO-1006) all tier-1 retailers are required to integrate their POSs with FBR’s real time invoicing system in Pakistan. [10] It is also mandatory for all restaurants to integrate their POSs. These FBR Invoicing system and FBR Integrated POS systems [11] should be able to handle sales, returns and exchanges. Around ...
In May 2022, the FBR (Federal Board of Revenue) executed the transfer and posting of 24 senior officers within the IRS. [6] Subsequently, in August 2022, 21 senior officials of the IRS were also transferred and posted, and among the changes was the appointment of Malik Amjad Zubair Tiwana as the new Member (IR Operations) of the FBR.
The FBR's budgetary target was set at Rs 9.200 trillion, 23% than last year's target. The fiscal deficit being estimated at Rs 6.923 trillion or 6.54% of the GDP. The Finance Minister said it added no new taxes , no increases in duties on import of essential items, exemptions of custom duties on certain agricultural goods, and increased ...
To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012. [ 1 ] [ 2 ] In 2017, the housing gap in Punjab , one of the largest provinces of Pakistan, was around 2.3 million units, this figure is expected to reach the figure of 11.3 million units by the end of 2047.
In 2021 the Federal Board of Revenue (FBR) has extended additional powers to the Directorate of Intelligence and Investigation (I&I) - Inland Revenue. This expansion involves broadening the functions, jurisdiction, and powers of the Director General of Intelligence and Investigation - Inland Revenue (DG I&I-IR) and the officers under its purview.
In April 2020, the government introduced an incentive package for the construction industry, including an amnesty scheme, tax exemptions, and a Rs 36 billion subsidy for Naya Pakistan Housing Scheme. Additionally, banks were directed to increase construction sector loans to 5 percent of their total loan book, and FED reduction on cement from Rs ...
Pakistan and its two largest city economies. Source: [1] As of 2019, Lahore had an estimated GDP of $84 billion. [2] [3] As of 2008, the city's gross domestic product (GDP) by purchasing power parity (PPP) was estimated at $40 billion (projected to be $102 billion by the year 2025, with a slightly higher growth rate of 5.6% per annum, as compared to Karachi's 5.5%).