KARACHI: A liquidator is required to inform Commissioner of Inland Revenue in 14 days of taking possession of an asset. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 which explained liquidators under Section 141 for recovery of tax from taxpayers in default.
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FBR set to launch door-to-door survey to identify tax evaders
ISLAMABAD: Federal Board of Revenue (FBR) will launch a door-to-door survey for identifying potential tax evaders to broaden the tax base, a report issued by ministry of finance said.
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Income Tax Ordinance 2001: Recovery from persons holding money of taxpayer
KARACHI- The Federal Board of Revenue (FBR) in Pakistan has been granted enhanced powers under the recently updated Income Tax Ordinance, 2001, enabling it to recover taxes directly from individuals or entities holding money on behalf of a taxpayer.
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FBR recovers over Rs5.4 billion from 0.2 million tax dodgers
ISLAMABAD: Federal Board of Revenue (FBR) has recovered over Rs5.4 billion from 0.2 million tax dodgers, said a report.
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Immovable Properties: FBR issues new valuation table for 339 areas in Peshawar
ISLAMABAD – In a move aimed at enhancing transparency and accuracy in the determination of income tax related to the sale and purchase of immovable properties, the Federal Board of Revenue (FBR) has issued a new valuation table for 339 areas in Peshawar.
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FBR increases valuation by 20pc for Karachi immovable properties
The Federal Board of Revenue (FBR) has revised the valuation of immovable properties in Karachi, announcing an increase of around 20 percent.
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FBR gets 1.81 million active taxpayers for 2017
The Federal Board of Revenue (FBR) has reported a noteworthy surge in the total number of active taxpayers, reaching 1.81 million for the tax year 2017, according to the latest Active Taxpayers List (ATL) released on a weekly basis.
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Income Tax Ordinance 2001: collection of tax from company in liquidation
The Federal Board of Revenue (FBR) has issued updates to the Income Tax Ordinance, 2001, emphasizing the joint responsibility of directors for the payment of taxes owed by a company, even if the said company is in a state of liquidation.
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Income Tax Ordinance 2001: Tax recovery through arrest, attachment of property
KARACHI: Federal Board of Revenue (FBR) has powers to attach moveable or immovable properties and through arrest of a person for recovery of due amount of taxes.
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Eliminating all tax exemptions, concessions planned
KARACHI: The government considering to withdraw all types of tax exemptions and concessions during next few years.
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