FBR advised making declaration of fund source mandatory for foreign remittances

KARACHI: Federal Board of Revenue (FBR) has been advised to make it mandatory the declaration of source of funds for foreign remittances. Read more »

FBR suggested to abolish FTR for commercial importers

KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish Final Tax Regime (FTR) for commercial importers and other segment of the economy in order to make the taxation system equitable. Read more »

FBR recommended imposing environmental tax on industries producing polluting materials

KARACHI: Federal Board of Revenue (FBR) has been suggested to impose environmental tax on industries producing non-renewable and polluting materials. Read more »

Restriction on gold purchase by non-filers proposed

KARACHI: Federal Board of Revenue (FBR) has been suggested to restrict non-filers of income tax returns from purchasing gold bars, jewelry and other luxury goods in order to broaden tax net. Read more »

Younus Dagha assigned additional charge of secretary revenue division

ISLAMABAD: The federal government has assigned additional charge of secretary revenue division to Muhammad Younus Dagha, who is already serving as Secretary Finance. Read more »

No bank account freezing without informing taxpayer: FBR chairman

ISLAMABAD: Shabbar Zaidi, the newly appointed chairman of Federal Board of Revenue (FBR), has issued instructions to field formation that bank account will not be frozen without prior information to taxpayers. Read more »

FBR imposes penalty on lady customs officer for inefficiency, misconduct

ISLAMABAD: Federal Board of Revenue (FBR) has imposed penalty of withholding two annual increments on lady customs official for inefficiency and misconduct. Read more »

FBR sets up directorate to initiate legal action in suspicious transactions, stop currency smuggling

ISLAMABAD: Federal Board of Revenue (FBR) has established Directorate of Cross Border Currency Movement (CBCM) to stop individual and trade based money laundering and initiate legal action in suspicious transactions. Read more »

Notification issued to appoint Shabbar Zaidi as FBR chairman

ISLAMABAD: The federal government has appointed Syed Muhammad Shabbar Zaidi as chairman of Federal Board of Revenue (FBR) for the period of two years. Read more »

Sales Tax Act 1990: treatment of tax paid by person required to get registration

KARACHI: A person, who is required to be get registration, paid sales tax on goods purchased from a registered person shall be treated as input tax. Read more »

ICAP recommends harmonization of federal, provincial tax laws

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has recommended harmonization of federal and provincial tax laws to facilitate the taxpayers. Read more »

Shabbar Zaidi appointment as FBR chairman without advertisement may tantamount to contempt of court

ISLAMABAD: The selection committee has observed that appointment of Shabbar Zaidi without advertising the post as chairman of the Federal Board of Revenue (FBR) and Secretary Revenue Division may tantamount to contempt... Read more »