Annual collection of capital gain tax falls by 26%
Official data reveals a significant decline of 26% in the annual collection of Capital Gain Tax (CGT) from the disposal of securities during the fiscal year 2020/2021.
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Author: Mrs. Anjum Shahnawaz
FBR deputes officials at jewelry shop for tax monitoring
ISLAMABAD: The Federal Board of Revenue (FBR) has deputed officials of Inland Revenue (IR) at a jewelry shop on suspects of underreporting and non-compliance of integration. The FBR invoked Section 40B of the Sales Tax Act, 1990, and deputed tax officials at a retail outlet of a leading jeweler in Lahore. The FBR issued orders […]
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FBR collects Rs11 bn income tax on prize bond winning
ISLAMABAD: The Federal Board of Revenue (FBR) has collected around Rs11 billion as income tax on the amount paid from winning of prize bonds during fiscal year 2020/2021, according to official data released on Monday. The collection of income tax grew by only one per cent during the fiscal year 2020/2021 as compared with Rs10.89 […]
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Customs duty collection from imported vehicles surges by 95%
Official data released on Monday indicates a remarkable upswing in the collection of customs duty from imported vehicles during the fiscal year 2020/2021, reflecting a staggering 95 percent growth, reaching Rs111 billion. This surge is in stark contrast to the Rs56.85 billion recorded in the preceding year.
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FBR launches sales tax return filing through single portal
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday said the sales tax return for the month of December 2021 will be filed through single portal. The FBR in a memorandum said that sales tax return for the tax period of December 2021, which is scheduled to be filed in January 2022, will be filed […]
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FBR transfers BS-18 to BS-20 IRS officers
ISLAMABAD: The Federal Board of Revenue (FBR) on Friday announced transfers and postings of senior officers of Inland Revenue Service (IRS) in BS-18 to BS-20. The FBR notified transfers and postings of the following officers: 01. Abdul Hameed Shaikh (Inland Revenue Service/BS-20) has been transferred and posted as Chief, (Provincial Taxes) Inland Revenue Policy Federal […]
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Digital tax monitoring yields Rs32.43bn from sugar sector
ISLAMABAD: The digital monitoring initiated by the Federal Board of Revenue (FBR) has resulted in a collection of Rs32.43 billion from the sugar sector during the first half of the current fiscal year.
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Bank Alfalah tops in house financing under MPMG
KARACHI: Bank Alfalah has secured the top position in house financing under the government’s flagship Mera Pakistan Mera Ghar (MPMG). According to a statement issued by the State Bank of Pakistan (SBP), Bank Alfalah secured the top position followed by Meezan Bank Limited and Standard Chartered Bank Limited. A ceremony was held on Friday at […]
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FBR conducts AML training for jewelers, lawyers
ISLAMABAD: The Federal Board of Revenue (FBR) has organized a training session on Anti-Money Laundering (AML)/Counter Financing for Terrorism (CFT) for jewelers, accountants and lawyers. The revenue body conducted the training session in collaboration with United Nations Office on Drugs and Crime (UNODC). The session has been aimed at creating awareness among Designated Non-Financial Businesses […]
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FBR exempts customs, regulatory duty on Afghan goods
ISLAMABAD: The Federal Board of Revenue (FBR) allowed exemption from customs duty, additional customs duty, and regulatory duty on import of various goods from Afghanistan. The FBR on Thursday issued three different statutory regulatory orders (SROs) to allow exemptions on various products on import from Afghanistan. Through SRO 1609(I)/2021, the FBR exempted the import into […]
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