Pakistan Revenue
KARACHI: Habib Bank Limited (HBL) has announced 32 percent decline in profit after tax to Rs3.177 billion for first quarter of year 2019 as compared with Rs4.68 billion in the same quarter of the last year. The earnings per share also declined to Rs2.08 for the period as compared with Rs3.12 in the same quarter […]
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KARACHI: Federal Board of Revenue (FBR) on Wednesday suspended two officers of Customs Intelligence with immediate effect. The following Intelligence Officers of Directorate of Intelligence & Investigation – FBR, Regional Office, Karachi have been placed under suspension in terms of Article 194 of CSR with immediate effect. i. Mehmood Akbar. ii. Parvaiz Ahmed Zardari
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ISLAMABAD: The government is reportedly planning to roll out a much-anticipated tax amnesty scheme during the last two months of the current fiscal year, with a conclusion targeted before the initiation of the International Monetary Fund (IMF) loan program.
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KARACHI: A person may be penalized up to five year imprisonment for obstructing or denying access any officer of Inland Revenue to the business premises or records.
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Karachi, Pakistan: The Federal Board of Revenue (FBR) has taken a significant step to streamline the process of claiming income tax refunds. In a recent announcement, the FBR has issued detailed guidelines that outline the procedures for individuals and businesses to seek refunds for excess taxes paid.
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ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance, Revenue, and Economic Affairs, directed the Federal Board of Revenue (FBR) to modify the proposed tax amnesty scheme to attract a maximum number of people.
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KARACHI: Pakistan Customs has issued valuation of 234 different brands and models of mobile phones for the purpose of determination of duty and taxes at clearance stage. The Directorate General of Customs Valuation issued valuation advice in order to make it easy for the clearance of mobile phones of different brands and models. The directorate […]
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KARACHI: The sales tax law has defined fine and penalty for persons fail to file sales tax returns within due date. The law also defined penalty for miscalculation and other obligations. The updated Sales Tax Act, 1990 issued by the Federal Board of Revenue (FBR) explained the offences and penalties under section 33. Following are […]
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ISLAMABAD: Pakistan and Iran have agreed to enhance economic cooperation through boosting monetary, financial and commercial activities to their full potential by utilizing all available options. The joint statement issued on Monday after the meeting of Pakistan Prime Minister Imran Khan and President of Iran Dr. Hassan Rouhani, the both sides considering the increase in […]
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KARACHI: The Federal Board of Revenue (FBR) has launched campaign to aware people about benami laws and harsh penalties under this law. Besides, the people are also informed about rewards to whistle blowers for pointing out benami properties. The FBR launched the campaign after the introduction of benami transactions rules to enforce the benami act. […]
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