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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 ...
The Inland Revenue Service (IRS) is a department of the Federal Board of Revenue (FBR) in Pakistan. It was established in 2009 and holds the responsibility for overseeing various aspects of domestic taxation, encompassing Sales Tax, Income Tax, and Federal Excise Duty. [1] [2]
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 ...
The Federal Tax Ombudsman Ordinance of 2000 [1] and the Federal Ombudsman Institutional Reforms (FOIR) Act of 2013 [2] confer powers, including administrative and financial autonomy. This aligns with the separation of Pakistan's judiciary and executive branches in accordance with the Constitution.
The period from July 1 to June 30 is considered as a normal tax year for Pakistan tax law purposes. Income Tax: This tax is levied on the income of individuals, associations of persons (AOPs), and corporations. For instance, individuals earning less than PKR 600,000 annually are exempt from income tax, while those with annual earnings exceeding ...
National Database and Registration Authority (NADRA) was established on 10 March 2000, by merging Directorate General of Registration Pakistan, a department created under the 1973 Constitution, with the National Database Organisation (NDO), [7] [4] an attached department under the Ministry of Interior, Government of Pakistan created for the ...
In 2023 the Director General of Intelligence and Investigation - Inland Revenue (DG I&I-IR) has initiated a process to segregate cases involving tax evasion from those related to money laundering. This effort aims to prevent the prosecution of individuals within the business community for money laundering when their actions primarily pertain to ...
Faisalabad, the third most populated metropolis in Pakistan after Karachi and Lahore [65] is an epicentre for trade that has gained popularity for its colonial heritage sites. [66] In 1982, the Government of Punjab established the Faisalabad Arts Council , a division of the Punjab Arts Council which is overseen administratively by the ...