Pakistan’s foreign reserves up by $30.4 million to $14.83 billion

ISLAMABAD, Pakistan: The Federal Board of Revenue (FBR) has decided to amend the rules to prevent the misuse of tax registration in Azad Jammu and Kashmir (AJK), according to a report by Dunya News.

It has been revealed that taxpayers in AJK and Gilgit-Baltistan are misusing their tax registrations with the tax authorities to evade taxes.

To address this issue, the FBR has decided to amend the Income Tax Rules 2001.

The FBR has prepared a draft of amendments to the Income Tax Rules 2001 and has released it to relevant stakeholders for feedback.

The stakeholders have been asked to submit their objections and suggestions regarding the proposed amendments within seven days.

According to the FBR, suggestions and feedback received after the specified deadline will not be considered, and the amended Income Tax Rules will be enforced through a gazette notification.