Pakistan Revenue
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. The IR officers have been deployed at the premises of sugar mills under Section 40B of Sales Tax Act, 1990 for the monitoring of stock, production and supply. Sources told […]
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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 of the last fiscal year. The total payment for import from China was at $3.14 billion during first four months of current fiscal […]
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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 agency witnessed the negative growth in 1967/1968. Following is the historical revenue collection figures since 1948/1949: Rupees in million Year Total 1948-49 […]
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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). The FBR revealed that the tax collection from doctors increased to Rs2.83 billion in fiscal year 2018/2019 as compared with Rs1.21 billion in the preceding fiscal year. […]
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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. Officials of Federal Board of Revenue (FBR) attributed the record high to 100 percent higher withholding tax imposed on persons not appearing on […]
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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 for persons not on the Active Taxpayers List (ATL). Sources in Regional Tax Office (RTO) –II Karachi said that the withholding tax collection […]
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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). According to amended Sales Tax Rules, 2006 issued by the FBR the Rule 27 has been amended to establish Centralized Sales Tax Refund Office (CSTRO), Refund Division […]
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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 on August 24, 2019. The FBR empowered Regional Tax Office (RTO) II and RTO III to identify persons having taxable income but not […]
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KARACHI: Sindh Revenue Board (SRB) on Tuesday suspended sales tax registration of a Chinese sanitation firm for defaulting sales tax payment and failure to file monthly sales tax returns. The SRB issued notice on August 20, 2019 to suspend registration of M/s. Hangzhou Jinjiang Group Sanitation Services Co. Pakistan (Private) Limited. The provincial revenue body […]
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ISLAMABAD: Federal Board of Revenue (FBR) has sacked a senior tax auditor on the charges of corruption and misconduct. In an office order issued on Tuesday, the FBR said that disciplinary proceedings under Government Servants (Efficiency & Discipline) Rules, 1973 were initiated against Mian Muhammad Ibrahim, Senior Auditor (BS-16) (under suspension), Regional Tax Office, Islamabad […]
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