Main features of Amnesty Scheme 2019

KARACHI: The government may launch a new tax amnesty scheme 2019 on April 15 for allowing undeclared local and domestic assets to become part of documented economy. Read more »

Sales Tax Act 1990: recovery of short payment without notice

KARACHI: The sales tax law authorized tax authorities to recover short paid amount without issuing notice. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section... Read more »

Tax rates for proposed Amnesty Scheme 2019

KARACHI: Persons may be allowed to avail tax amnesty at one percent for undeclared banking transactions of past five years. Read more »

FBR sets up complaint cell against corrupt officials

ISLAMABAD: Federal Board of Revenue (FBR) has established a dedicated cell to facilitate taxpayers in filing complaints against corrupt practices of officials of Inland Revenue and Pakistan Customs. Read more »

FBR asks financial institutions to provide account holders details for automatic exchange of information

KARACHI: Federal Board of Revenue (FBR) has asked financial institutions to provide details of their account holders by May 31, 2019 for the purpose of automatic exchange of information with OECD member... Read more »

Sales Tax Act 1990: Recovery of amount erroneously refunded

KARACHI: The officers of Inland Revenue have been authorized to recover tax for refund amount erroneously issued to taxpayer along with penalties and default surcharge. Read more »

FBR promotes 49 Inland Revenue Officers to Assistant Commissioner BS-17

ISLAMABAD: Federal Board of Revenue (FBR) o Wednesday promoted 49 officers of Inland Revenue from BS-16 to the post of Assistant Commissioner Inland Revenue (BS-17) with immediate effect. Read more »

Sales Tax Act 1990: refund of input tax payable in 45 days

KARACHI: Federal Board of Revenue (FBR) is required to pay sales tax refunds to the taxpayers in 45 days from the date of filing claim. Read more »

Ministry notifies implementation of labeling, printing requirements on imported goods from July 01

ISLAMABAD: The ministry of commerce on Tuesday notified the implementation of labeling and printing conditions on imported goods from July 01, 2019. The commerce ministry issued SRO 438(I)/2019 to amend Import Policy... Read more »

MCC Islamabad announces auction of vehicle on April 11

ISLAMABAD: Model Customs Collectorate (MCC) Islamabad has announced public auction of confiscated vehicles and those vehicles surrendered by Prime Minister House under austerity measures and surrendered by National Agricultural Research Centre (NARC)... Read more »

FBR waives penalty on overstayed consignments

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday waived penal surcharges on overstayed consignments to facilitate trade community. The FBR said that the waiver had been granted in pursuance to decision taken... Read more »

Many withholding tax provisions to be abolished in budget

ISLAMABAD: The government has intended to abolish large number of withholding tax provisions in the budget. Read more »