5 Posts

fbr

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IMF ‘concerned’ over FBR’s Track and Trace system shortcomings

  • 3 min
The IMF expresses concern over the Federal Board of Revenue's track and trace system's shortcomings. The agency has requested a detailed implementation report and set a deadline for its adoption across five major sectors. Pakistan is in talks with the IMF for a bailout package, with both parties agreeing to accelerate reforms to expand the tax net and prevent evasion.
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FBR ‘delays’ SIMs, connection suspension of non-filers

  • 2 min
The Federal Board of Revenue (FBR) has delayed the crackdown on non-filers' SIMs and utility connections following legal issues and incomplete Income Tax General Order. The IMF's demand to boost tax compliance in Pakistan led to this decision. However, action may begin by March 1 after resolving legal matters. IMF has approved a $700 million loan for Pakistan.
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FBR rolls back decision to freeze PIA`s bank accounts

  • 2 min
On Thursday, the Federal Board of Revenue (FBR) rescinded its decision to freeze Pakistan International Airlines' (PIA) bank accounts. However, the FBR clarified that this reversal did not hinder its pursuit of recovery proceedings, underscoring a challenging financial predicament for the national carrier.