FBR ACT MCQS

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FBR ACT MCQs and related questions with Answers Federal Board of Revenue Jobs test preparation online.

FBR Act 2007

  • “RTOs” means: Regional Tax Offices 
  • “LTUs” stands for: Large Taxpayer Units 
  • TAMS means: Tax Audit Management System 
  • “Taxpayers Audit Wing” was established in: A. January 2003  

FBR ACT MCQS and Related Questions

In the FBR Act 2007, “fiscal laws” means laws relating to:

A. finance
B. commerce
C. trade
D. taxation

What is the federal Consolidated Fund in Pakistan?

  1. All Federal Government revenues
  2. Federal Government expenditures
  3. Federal Government reserves
  4. None

The Revenue Division was abolished in:

  1. January 1995
  2. March 1995
  3. February 1995
  4. April 1995

The Central Board of Revenue (CBR) became Federal Board of Revenue (FBR) by the enactment of:

A. FBR Act 2006
B. FBR Act 2007
C. FBR Act 2008
D. FBR Act 2009

TAMS means:

  1. Tax Auditor Management System
  2. Tax Audit Management System
  3. Tax All Management System
  4. All of these

RTOs means:

  1. Regional Tax Offices
  2. Revision Tax Offices
  3. Regular Tax Offices
  4. Real-life operating software

FBR is under the revenue division of :

  1. State Bank
  2. Commerce Ministry
  3. Finance Ministry
  4. Federal Government

All properties, assets and records of the Central Board of Revenue were transferred to _______ by the enactment of FBR Act 2007.

  1. FBR
  2. Finance Ministry
  3. Federal Government
  4. none of these

Salary Income is exempt up to:

  1. 200,000
  2. 300,000
  3. 400,000
  4. 500,000
  5. 600,000

FBR imposed _______ regulatory duty on motor spirit's import.

  1. 2 percent
  2. 40 percent
  3. 70 percent
  4. 10 percent

The tax system in Pakistan is operating on:

  1. At promoting voluntary compliance Documents
  2. Self Assessment Basis
  3. self policing
  4. All of these

Income Tax is a:

  1. Indirect tax
  2. Direct Tax
  3. Fee
  4. None of these

CBR stands for :

  1. Central Board of Revenue
  2. Control Board of Revenue
  3. California bearing Ratio
  4. Central Bank of The Russian

The Central Board of Revenue became Federal Board of Revenue by the enactment of __

  1. FBR Act 2001
  2. FBR Act 2004
  3. FBR Act 2007
  4. FBR Act 2009

When was Federal Board of Revenue (Erstwhile CBR) Founded?

  1. 1st April, 1924
  2. 4th July, 1948
  3. 1st June, 1951
  4. 23 March, 1935

Which tax is not a federal tax?

  1. Customs Duty
  2. Federal Excise
  3. Sales Tax on Goods
  4. Sales Tax on Service

What is Pakistan's biggest export in 2023-24?

  1. Leather goods
  2. Rich
  3. Textile
  4. None of these

What is contraband?

  1. All Narcotics
  2. All smuggled goods
  3. Articles banned by a Government
  4. Goods which may assist an enemy

What is Pakistan's largest trade partner in import?

  1. UK
  2. China
  3. USA
  4. None of these

The Customs Act was enacted in which year?

  1. 1968
  2. 1969
  3. 1970
  4. 1971

Federal Board of Revenue (FBR) is under the revenue division of the

A. commerce ministry
B. finance ministry
C. state bank
D. federal government

All properties, assets and records of the Central Board of Revenue were transferred to _ by the enactment of FBR Act 2007.

A. FBR
B. Finance Ministry
C. Federal Government
D. none of these

Important Point Related to History of FBR ACT

  • The Central Board of Revenue (CBR) was created on: 1 April 1924
  • By which Act the Central Board of Revenue was established: Central Board of Revenue Act 1924 
  • The Revenue Division was abolished in: January 1995 
  • FBR reverted back to the ___ positions: Pre-1991 
  • The Revenue Division continues to exist since: 1st December 1998
  • In ____ a full-fledged Revenue Division was created under the Ministry of Finance: 1944 
  • After Independence this arrangement continued up to: 31st August 1960 

IMPORTANT: Read all FBR PAST PAPERS for Federal Board of Revenue of Pakistan Jobs test preparation online.

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