FBR Assessment Amendment Powers for Tax Year 2027
The Federal Board of Revenue (FBR) can amend or further amend income tax assessment orders where specific legal grounds exist.…
FBR Best Judgement Assessment for Tax Year 2027
The Federal Board of Revenue (FBR) has strengthened the framework for best judgement assessment for Tax Year 2027. Under Section…
FBR National Faceless Centre: New Jurisdiction and Powers
The Federal Board of Revenue (FBR) has introduced a dedicated jurisdiction framework for the National Faceless Centre (NFC), giving specialised…
Finance Division Amends SOE Policy to Strengthen IFRS Compliance
Pakistan’s Finance Division has amended the State-Owned Enterprises (SOEs) Ownership and Management Policy, 2023 to strengthen the implementation of International…
FBR 15-Day Deadline for Discontinued Businesses – Tax Year 2027
The Federal Board of Revenue (FBR) has set a 15-day notification requirement for taxpayers who discontinue their business during Tax…
FBR Foreign Income & Assets Statement for Tax Year 2027
The Federal Board of Revenue (FBR) requires certain resident individual taxpayers in Pakistan to file a Foreign Income and Assets…
FBR Wealth Statement for Tax Year 2027: Key Requirements
The Federal Board of Revenue (FBR) requires resident individual taxpayers to provide a wealth statement and wealth reconciliation statement along…
FBR Section 114C: Restrictions on Non-Filers – Tax Year 2027
The Federal Board of Revenue (FBR) has introduced Section 114C of the Income Tax Ordinance, 2001, establishing restrictions on certain…
Alternative Corporate Tax in Pakistan – Tax Year 2027
Companies in Pakistan may face a tax liability based on more than their conventional taxable income. Under Section 113C of…
FTO Directs FBR to Decide Pending Tax Application Within 20 Days
The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to ensure the timely disposal of a…