KARACHI: Tax officials have immense powers to enter any premises for the purpose of audit of a taxpayer or survey of a potential taxpayer.Read More
KARACHI: Sindh Revenue Board (SRB) has issued a list of 1,289 customs clearing agents, who have failed to comply with monthly return filing.
KARACHI: Federal Board of Revenue (FBR) has listed classes of taxpayers, who are required to get sales tax registration to declare their monthly transactions to the tax authorities.
KARACHI: A commissioner of Inland Revenue is responsible for making payment at KIBOR plus 0.5 percent per annum for late payment of income tax refund.
KARACHI: Taxpayers falling under final tax regime are not required to file income tax returns under Section 114 of Income Tax Ordinance, 2001.
KARACHI: The income tax law has empowered a commissioner Inland Revenue to make provisional assessment where a concealed asset of a person impounded by any government agency.
KARACHI: A commissioner of Inland Revenue has been empowered to alter annual income tax return of a person on detection of tax evasion or avoidance.
KARACHI: Commissioners of Inland Revenue have been empowered to make ‘best judgement assessment’ for taxpayers, who fail to file annual returns, for making payment of due taxes.
KARACHI: A commissioner of Inland Revenue is required to send notice to taxpayers for incomplete annual income returns within 180 days from end of financial year in which return was filed.
KARACHI: The due date for filing annual income tax return has become important Since Federal Board of Revenue (FBR) imposed restriction of denying late filers into Active Taxpayers List (ATL).
KARACHI: Sindh Revenue Board (SRB) on Thursday suspended sales tax registration of a logistic company for depositing short payment.
ISLAMABAD: Income tax return filers are entitled to various tax reductions, rebates and credits while declaring their income for a tax year, according to a facilitation guide of Federal Board of Revenue (FBR).