FBR set to launch Benami law to trace black money

ISLAMABAD: Federal Board of Revenue (FBR) is set to make Benami Law operational with strict action to confiscate property if it was held by a person and payment made by another person. Read more »

FBR notifies major reshuffle in IRS; 42 officers transferred

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday announced major reshuffle in Inland Revenue Service (IRS) as 42 officers of BS-17 to BS-20 transferred with immediate effect. Read more »

FBR withdraws credit card details on sales through POS

KARACHI: Federal Board of Revenue (FBR) has withdrawn requirement of details of credit card holder in case sales made through Point of Sale (POS) of textile and leather sectors under concessionary regime. Read more »

Income Tax Ordinance 2001: taxation on non-resident ship owner, charterer

KARACHI: A ship owned or chartered by a non-resident person before leaving any port in Pakistan is required to furnish a return of income. Read more »

FBR starts receiving real-time sales information from 2,574 outlets of textile, leather sectors

ISLAMABAD: Around 2,574 outlets of 75 units of textile and leather sectors have started real-time information of their sales to Federal Board of Revenue (FBR), a statement said on Wednesday. Read more »

FBR releases 24pc less refunds in seven months amid huge collection shortfall

ISLAMABAD: The issuance of refunds by Federal Board of Revenue (FBR) decline by 24 percent yet the net collection for the first seven months witnessed huge shortfall. Read more »

Suppressed sales tax auditors and challenging revenue collection

KARACHI: Sales Tax / Value Added Tax (VAT) is the most significant source of tax collection in the world.       Unlike direct tax it is known as tax on consumption... Read more »

Income Tax Ordinance 2001: Tax recovery due by non-resident member of AOP

KARACHI: Federal Board of Revenue (FBR) has powers to recover outstanding tax from a resident Association of Persons (AOP) in case tax due of a non-resident, who is member of such AOP.... Read more »

Income Tax Ordinance 2001: Liquidators require to inform commissioner in 14 days of taking possession of assets

KARACHI: A liquidator is required to inform Commissioner of Inland Revenue in 14 days of taking possession of an asset. Read more »

FBR set to launch door-to-door survey to identify tax evaders

ISLAMABAD: Federal Board of Revenue (FBR) will launch a door-to-door survey for identifying potential tax evaders to broaden the tax base, a report issued by ministry of finance said. Read more »

FBR reshuffles BS-19-20 Customs officers; notifies 44 transfers

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of 44 officers of Pakistan Customs Service (PCS) in BS-19-20 with immediate effect until further orders. Read more »

FBR notifies transfer, postings of BS-20-21 IRS officers

ISLAMABAD: Federal Board of Revenue (FBR) has notified transfer and postings of senior officers of Inland Revenue Service (IRS) of BS-20-21 with immediate effect and until further orders. Read more »