• Download the Constitution of Pakistan
  • Advertise
Wednesday, July 9, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Finance

What is FBR? Federal Revenue Board, Pakistan

by Web Desk
October 19, 2022
in Finance
Reading Time: 3 mins read
0
Federal Board of Revenue - FBR
Share on FacebookShare on TwitterLinkedinWhatsapp

FBR is the Federal Board of Revenue for the government of Pakistan. It was created on the 31st of august 1960 as an attached department of the Ministry of Finance. Changes were then made in 1974 to the organization and structure of the FBR. The status of FBR as a Revenue Division was restored under the Ministry of Finance in 1991, this was done to remove impediments in the exercise of administrative powers of a Secretary to the government along with the effective formulation and implementation of the fiscal policy measures.

Current Chairman of FBR: Mr. Asim Ahmad

Vision

To be a modern, progressive, effective, autonomous, and credible organization in order to optimize revenues by providing quality service and promoting compliance with tax and related laws.

Taxation by FBR

Mission

Enhance the capability of the tax system to collect due taxes through the application of modern techniques, providing taxpayer assistance, and creating a motivated, satisfied, dedicated workforce.

Federal Board of Revenue - FBR

Values

  1. Professionalism
  2. Integrity
  3. Teamwork
  4. Courtesy
  5. Fairness
  6. Transparency
  7. Responsiveness

Functions of FBR

The Federal Board of Revenue – FBR is an organization developed to perform a number of functions in Pakistan, that involves:

  • Identifying the withholding agents
  • Facilitating the issuance of NTN/FTN to unregistered withholding agents in respective regional tax offices via the Pakistan Revenue Automation Limited.
  • Developing accounting policies for the appropriation of the deduction to the regional tax offices/ large taxpayers’ unit
  • Reviewing and recommending suitable processes and filing structures of withholding statements that are compatible with the income tax environment
  • Monitoring the certification of exemption from withholding taxes, issued by concerned tax authorities for the proper utilization by all concerned.
  • Suggesting the FBR amendments and modifications.
  • Adopting ways and means for educating and facilitating the prescribed persons and other stakeholders.
  • Collating information on withholding taxes withheld or collected and deposited for various purposes.
  • Performing the necessary work for achieving the objectives of the organization and discharging all functions.
  • Getting the orders passed under relevant provisions of the income tax ordinance and imposing additional tax and penalty to ensure the recovery of tax that is not deducted or collected by the withholding agent.
  • Verifying and cross-checking the monthly statements of withholding taxes with tax deposits, returns, declarations, and other information relevant to the taxpayers.
  • Checking, supervising, ascertaining, monitoring, reconciling, and properly enforcing the Withholding regime and other provisions of Income-tax ordinances all over Pakistan.
  • Adopting ways and means for monitoring the deductions, collections, and payments of tax.
  • Controlling possible leakages of withholding taxes.
  • Enforcing prescribed statements.
  • Maintain the proper record of withholding taxes and prescribed persons.
Cash

Organizational Structure of FBR

Chairman FBR is the central person and right now the chairman of FBR is Mr. Asim Ahmed, there are 5 heads under the chairman of FBR and these heads are operational members, policy members, functional members, support members, and 21 directors generals. Operational members include member IR operations and member customs operations. Policy members include the member IR policy and member custom policy. Functional members include members (admin/HR), members PR, and members (audit and accounting). Support members include member legal, member IT, member legal and accounting, and member reforms and modernization. 21 director generals including 11 customs DGs and 10 IR DGs.

Tags: EconomyFBRFederal Board of RevenueFinancePakistanTaxTaxation
Web Desk

Web Desk

Related Posts

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

Petrol increase

Petrol Prices Likely to Rise by Rs5/Litre from July 1

by Anum Arif
June 30, 2025
0

ISLAMABAD: Prices of petroleum products in Pakistan are likely to rise by up to Rs5 per litre starting Monday, July...

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

by News Publishing
June 24, 2025
0

The Government of Pakistan is working on securing two foreign loans totaling $3.3 billion from Chinese financial institutions, aimed at...

PSX stumbles over geopolitical tensions, oil price surge

PSX stumbles over geopolitical tensions, oil price surge

by News Publishing
June 23, 2025
0

The Pakistan Stock Exchange (PSX) came under significant pressure on Monday as heightened geopolitical tensions and a sharp rise in...

Next Post
PTI’s Sehat Card Appreciated in world’s top medical journal

PTI’s Sehat Card Appreciated in world’s top medical journal

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters