ISLAMABAD: Federal Board of Revenue (FBR) has received 2.45 million income tax returns for tax year 2019 till evening of February 28, 2020, which is the last date for filing the returns. A statement issued on Friday, the FBR said that the last date for filing income tax returns would not be extended further. The […]
ISLAMABAD: Federal Board of Revenue (FBR) on Friday transferred Dr. Najeebullah, an officer of Inland Revenue Service (BS-19) as Commissioner, Large Taxpayers Unit (LTU), Karachi. The FBR notified transfers and postings of IRS officers of BS-19 and BS-20. Following officers have been transferred and posted: 01. Dr. Najeebullah (Inland Revenue Service/BS-19) has been transferred and […]
KARACHI: The stock market fell by 104 points on Friday amid reports of Pakistan and International Monetary Fund (IMF) reached on a staff-level agreement. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 37,984 points as against 38,087 points showing a decline of 104 points. Analysts at Arif Habib Limited said that […]
KARACHI: The Pak Rupee eased by two paisas against dollar on Friday in range bound trading activities, dealers said. The rupee closed at Rs154.23 to the dollar from previous day’s closing of Rs154.21 in interbank foreign exchange market. The currency dealers said that the market was remained dull during the day owing to lackluster demand […]
ISLAMABAD: Federal Board of Revenue (FBR) has conducted sectoral analysis to identify reasons behind shortfall in revenue collection. The analysis showed massive decline in sales tax from Oil Market Companies (OMCs) during July – January 2019/2020. According to official documents, the collection of sales tax from OMCs was at Rs13.56 billion during first seven months […]
KARACHI: Federal Board of Revenue (FBR) to initiate proceedings against persons failed to file income tax returns for tax year 2019 after expiry of return filing date i.e. February 28, 2020. Sources in Federal Board of Revenue (FBR) on Thursday said that FBR unlikely to further extend the return filing date. The return filing date […]
KARACHI: Karachi Tax Bar Association (KTBA) has suggested an automatic stay should be granted where a taxpayer paid 10 percent of the defaulted amount. The stay should be granted till the decision by the Commissioner Inland Revenue (Appeals), the KTBA said in a letter sent to Member Inland Revenue (Policy) on Thursday. The tax bar […]