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To update the tax laws and bring the country's tax laws into line with international standards, the Income Tax Ordinance 2001 was promulgated on 13 September 2001. [3] It became effective from 1 July 2002. Following the recent budget, the Income Tax Ordinance as amended up to June 30, 2024 and the updated Finance Act 2024 are now available. [4]
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 Section 9(1) of FOIRA of 2013, the agency is to submit written comments within 15 days, which is further extendable for seven days on a sufficient cause. According to Section 11(1) of the Ordinance and Section 9(5) of FOIRA of 2013, The FTO is to make a decision within a period of 60 days of the receipt of the complaint.
The Directorate General of Intelligence and Investigation (DG I&I) (Urdu: نظامتِ عمومی برائے سراغرسانی و تفتیش) operates as a department under the Federal Board of Revenue (FBR) in Pakistan. While its core function is to serve as the intelligence wing of the FBR, it is actively engaged in the day-to-day ...
LUMS is a federally chartered university and is approved as a not-for-profit organisation under section 2(36) of Income Tax Ordinance, 2001 in terms of provisions of Clause 63 of Part IV of Second Schedule to the Ordinance. Any individual or organisation making donations to LUMS is entitled to a tax credit under section 61 of Income Tax ...
Pakistan’s Federal taxation was originally organised along the lines of Indirect & Direct taxes, resulting in two occupational groups viz. Customs & Excise Group, and Income Tax Group. However, in 2010 the groups were reorganised along the lines of Domestic Duty & Taxes and International Duties & Taxes, which resulted in formation of Pakistan ...
Regional Tax Office is a field formation of the Federal Board of Revenue (FBR). It is situated at Regional Tax Office, Jail Road, Faisalabad and can be found at Google Maps Regional Tax Office. This office is responsible for monitoring and collection of federal taxes imposed by the Government of Pakistan. This office has jurisdiction to send ...
It was formed under an ordinance issued in 2001. The Office achieves task through dedicated human resources, immense investment in infrastructure and strict quality control checks by the Senior Officers. It is also responsible for disbursing government money in form of payments of salaries and allowances to government servants and payments to ...