Sales tax collection from textile sector jumps six-fold

ISLAMABAD: The collection of sales tax from textile sector registered a six-fold increase in fiscal year 2019/2020 owing to elimination of zero-rated tax regime. According to official statistics released by Federal Board... Read more »

Pakistan Customs’ security, integrity at mercy of lappus

KARACHI: The sensitive data of Pakistan Customs and integrity of the department are totally at mercy of privately hired persons ‘lappus’ by Customs officers. Read more »

FBR deploys IR officers at 20 sugar mills for monitoring of production, supplies

ISLAMABAD: Federal Board of Revenue (FBR) has deployed officers of Inland Revenue at 20 sugar mills to monitor production and supply for checking tax evasion. Read more »

Share of payment to Chinese imports increases 21.42pc

KARACHI: The share of import payment to China has increased to 21.42 percent during first four months (July – October) 2019/2020 as compared with share of 18 percent in the corresponding period... Read more »

Tax collection witnesses negative growth after 51 years

ISLAMABAD: The revenue collection in 2018/2019 has witnessed negative growth after 51 years, according to year book released by Federal Board of Revenue (FBR). The historical revenue collection shows the tax collecting... Read more »

Income tax collection from doctors surges by 135pc; services sector contribution falls by 8.2pc

ISLAMABAD: The income tax collection from doctors has witnessed unprecedented growth of 135 percent in fiscal year 2018/2019, according to official statistics of Federal Board of Revenue (FBR). Read more »

Income tax return filing rises to record high of 2.66 million

ISLAMABAD: The income tax return filing has increased to record high of 2.66 million for tax year 2018, according to returns filed up to October 27, 2019 for the said tax year. Read more »

Withholding tax collection on profit from bank deposits surges by 194pc

KARACHI: The collection of withholding tax from profit on bank deposits registered unprecedented growth of 194 percent during first quarter of first fiscal year as the tax rates increased by 100 percent... Read more »

Post refund divisions to be set up at RTOs/LTUs to audit claims

ISLAMABAD: Federal Board of Revenue (FBR) has decided to audit sales tax refunds by establishing ‘refund division’ at all Regional Tax Offices (RTOs) and Large Taxpayers Units (LTUs). Read more »

FBR issues broadening of tax base jurisdictions for Karachi

KARACHI: Federal Board of Revenue (FBR) has divided territorial jurisdictions of tax offices in order to identify potential taxpayers in Karachi city – the commercial hub of the country, FBR officials said... Read more »