FBR

FBR to implement real estate rules as per FATF action plan

FBR to implement real estate rules as per FATF action plan

February 27, 2020

ISLAMABAD: Following the Financial Action Task Force’s (FATF) decision to extend the deadline for Pakistan to complete its 27-point action plan, the Federal Board of Revenue (FBR) is determined to step up monitoring of real estate, gems and jewellery sectors. Implementation of rules in the aforementioned areas will reportedly take[...]
PM instructs FBR to facilitate builders, developers

PM instructs FBR to facilitate builders, developers

December 22, 2019

ISLAMABAD: Prime Minister Imran Khan has urged the chairman of the Federal Board of Revenue (FBR) to expedite solutions for legitimate woes being faced by builders and developers in their respective projects. The premier issued the directives while chairing a meeting with his economic team, saying that as many as[...]
17,000 major retailers on FBR’s tax radar

17,000 major retailers on FBR’s tax radar

November 25, 2019

ISLAMABAD: As many as 17,000 major retailers housed in luxurious shopping malls, retail chains and stores occupying 1,000 square feet or more space are in the spotlight with the Federal Board of Revenue (FBR) announcing a system of direct documentation of due taxes. To curb tax evasion worth billions of[...]
Real estate among others to be monitored via interim setup

Real estate among other sectors to be monitored via interim setup

November 25, 2019

ISLAMABAD: The government’s efforts to address concerns raised by the Financial Action Task Force (FATF) have led to the development of an interim regulatory framework to bring all unregulated sectors of the Pakistan’s economy under scrutiny. The National FATF Coordination Committee (NFCC), commissioned by Prime Minister Imran Khan in the[...]
Textile industry awaits refunds worth Rs80 billion

Textile industry awaits refunds worth Rs80 billion

November 17, 2019

KARACHI: Rifts between the government and textile industry continue to widen as the latter issued another warning about the turmoil within the sector due to no-show of refunds worth approximately Rs80 million. All Pakistan Textile Mills Association (APTMA) Chairman Amanullah Kassim held a press conference regarding the matter, where he[...]
Regaining taxpayers’ trust crucial for tax system

Regaining taxpayers’ trust crucial for tax system, says PM

November 14, 2019

ISLAMABAD: Prime Minister Imran Khan has urged the Federal Board of Revenue (FBR) to step up efforts to restore taxpayers’ confidence in the tax system, saying that sweeping reforms were the need of the hour to stabilise Pakistan’s economy. In a meeting with the top officials of the FBR, the[...]
FBR top hierarchy opposes plans to overhaul tax system

FBR top hierarchy opposes plans to overhaul tax system

November 5, 2019

ISLAMABAD: The proposed formation of Pakistan Revenue Authority (PRA) has met with resistance from top quarters of the Federal Board of Revenue (FBR). Prime Minister Imran Khan has given until June 2020 to set up the PRA, with FBR Chairman Shabbar Zaidi envisioning a major overhaul in the country’s tax[...]
FBR reports overall increase of 16% in tax collection

FBR reports overall increase of 16% in tax collection

November 1, 2019

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi has revealed that tax collection for the month of October amounted to Rs 320 billion – an overall 16% increase from the same time period last year. The official took to micro-blogging website Twitter to share the news with his[...]
Proposed tax assessment surveys given go-ahead

Proposed tax assessment surveys given go-ahead by PM

November 1, 2019

ISLAMABAD: A three-year grand scheme to carry out surveys for tax assessment, evaluate wealth parked in real estate and implement a new value added tax system all over the country has been approved by Prime Minister Imran Khan. The plan includes setting up the Pakistan Revenue Authority by June 2020[...]

A Real Estate Think Tank in Pakistan – the Need of the Day

October 4, 2019

Think tanks serve two major purposes: to present practical solutions to complex problems, and to spread public awareness. For real estate sector in Pakistan, we critically need both of these. Real estate development sector is generally perceived as the backbone of the national economy. According to recent estimations by independent[...]