Income Tax Ordinance 2001: two-year jail for failing return, statement filing

KARACHI: Federal Board of Revenue (FBR) is going to invoke certain provisions of tax laws, including prosecution for non-compliance to return and statement filing, under which about two years jails suggested for... Read more »

SRB suspends sales tax registration of Sharp Telecom

KARACHI: Sindh Revenue Board (SRB) has suspended the sales tax registration of M/s. Sharp Telecom (Pvt) Limited for failing making payment and filing monthly return. Read more »

FBR issues ATL for Tax Year 2018, active taxpayers decline to 1.6 million

ISLAMABAD: Federal Board of Revenue (FBR) on Friday launched new Active Taxpayers List (ATL) for Tax Year 2018, which is showing around 1.6 million taxpayers filed their income tax returns by respective... Read more »

Motor vehicle, immovable property registration authorities liable to pay penalty for processing non-filers’ request

KARACHI: Provincial motor or immovable property registration authorities will liable to pay penalty around three percent of the value in case of processing registration request by non-filers of income tax return. Read more »

Income Tax Ordinance 2001: Late filers not to get names on ATL

KARACHI: Late filers of income tax returns will not get their name on the Active Taxpayers List (ATL) that will be issued tomorrow (March 01, 2019). Read more »

Income Tax Ordinance 2001: No commercial, industrial gas or electricity connection without NTN

KARACHI: The National Tax Number (NTN) is mandatory for a person applying by commercial or industrial connection for electricity or natural gas. Read more »

Income Tax Ordinance 2001: Commissioner can take assistance of police, civil armed forces to conduct audit

KARACHI: A commissioner of Inland Revenue (IR) can take assistance of government authorities, police and civil armed forces to conduct audit of taxpayers. Read more »

FBR launches crackdown against high-valued undeclared immovable properties

KARACHI: Federal Board of Revenue (FBR) has launched drive against high-valued transactions of immovable properties in order to unearth quantum of black money used for the purpose. Read more »

Income Tax Ordinance 2001: Commissioner IR has court powers for production of taxpayers’ record

KARACHI: The tax laws have empowered Commissioner of Inland to act as a court under the Code of Civil Procedure for compelling production of records of any person. Read more »

FBR devises strategy for survey of existing, new shopping centers to identify tax evaders

KARACHI: Federal Board of Revenue (FBR) is set to launch survey in existing and new shopping markets in Karachi for identifying tax evaders. Read more »

Income Tax Ordinance 2001: Tax officials’ power to enter premises without notice

KARACHI: Tax officials have immense powers to enter any premises for the purpose of audit of a taxpayer or survey of a potential taxpayer. Read more »

SRB issues list of 1,289 non-filer customs agents

KARACHI: Sindh Revenue Board (SRB) has issued a list of 1,289 customs clearing agents, who have failed to comply with monthly return filing. Read more »