Sep 27

PTBA identifies ambiguity in property value declaration

Pakistan Tax Bar Association (PTBA) on Tuesday identified ambiguity in declaring of immovable property in income tax return filing. PTBA President Rana Munir Hussain in a letter to the chairman of Federal Board of Revenue (FBR) stated that the apex tax bar had received several representations from the members of different affiliated tax bars across […]

by Anjum Shah

FBR allows refund adjustment to facilitate return filing

Sep 27

Taxation

FBR allows refund adjustment to facilitate return filing

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday allowed refund adjustment to facilitate taxpayers in filing returns for tax year 2022. The FBR said it had received a number of representations from various Tax bars, businesses and other stakeholders on the issue of non-availability of refund adjustment tab in the return forms available in the […]

by Anjum Shah

FPCCI seeks statutory time for return filing after error removals

Sep 26

Taxation, Trade & Industry

FPCCI seeks statutory time for return filing after error removals

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex trade body of the country, has urged the tax authorities to give statutory time for filing tax return after removing all errors in the return form. “Proper legal time for compliance should be granted as per the statute after resolving all problems in […]

by Faisal Shah

FBR advised to extend tax return filing date for three months

Sep 26

Taxation, Trade & Industry

FBR advised to extend tax return filing date for three months

KARACHI: The Federal Board of Revenue (FBR) has been advised to extend the last date for filing income tax returns at least for next three months. Muhammad Idrees, President, Karachi Chamber of Commerce and Industry (KCCI) in a letter sent to the Finance Minister on Monday requested to issue to the FBR for extension in […]

by Hamza Shah

PTBA suggests measures to resolve refund adjustment ahead return filing deadline

Sep 25

Taxation, Top stories

PTBA suggests measures to resolve refund adjustment ahead return filing deadline

Pakistan Tax Bar Association (PTBA) has suggested measures to tax authorities to resolve the issue of refund adjustment just ahead of the deadline to file income tax return tax year 2022. It is important to note that the last date for filing income tax return is September 30, 2022. READ MORE: Penalties for failure to […]

by Hamza Shah

Pakistan assures extending tax incentives to Qatari businessmen

Sep 25

Taxation

Pakistan assures extending tax incentives to Qatari businessmen

ISLAMABAD: Pakistan has assured Qatar of extending tax incentives and cooperation to Qatari businessmen investing in the country. Ambassador of Qatar to Pakistan Sheikh Saoud Bin Abdul Rahman Bin Faisal Al-Thani called on Chairman FBR Asim Ahmad at FBR Headquarters. READ MORE: Penalties for failure to file return tax year 2022 within due date Matters […]

by Anjum Shah

Penalties for failure to file return tax year 2022 within due date

Sep 24

National, Taxation, Top stories

Penalties for failure to file return tax year 2022 within due date

Tax laws have prescribed penalties for failure to file return for tax year 2022 within due date. The last date for filing income tax return for tax year 2022 is September 30, 2022. The Federal Board of Revenue (FBR) recently announced it would not extend the last date beyond September 30, 2022. Sources in the […]

by Faisal Shah

Sep 23

Taxation

FBR promotes 35 IRS officers to BS-18

Federal Board of Revenue (FBR) on Friday promoted 35 BS-17 officers of Inland Revenue Service (IRS) to BS-18 on regular basis with immediate effect. The FBR promoted the following IRS officers: 01. Ms.Sana Saleem 02. Ms. Amna Sharif 03. Ms. Ayesha Dars 04. Ms. Sadaf Ihsan 05. Akhtar Hussain 06. Ms. Sharmeen Qamar 07. Muhammad […]

by Anjum Shah

FBR fails to remove return filing glitches; KTBA seeks legal time

Sep 23

National, Taxation, Top stories

FBR fails to remove return filing glitches; KTBA seeks legal time

A leading tax bar on Friday pointed out failure of the Federal Board of Revenue (FBR) in removing errors/glitches in the return filing as only a week left for the last date. Karachi Tax Bar Association (KTBA) in its letter to FBR chairman and other higher authorities to resolve issues in online return filing for […]

by Faisal Shah

Customs appraising officer awarded ‘dismissal from service’

Sep 22

Pakistan Customs

Customs appraising officer awarded ‘dismissal from service’

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday awarded major penalty of ‘dismissal from service’ upon an appraising officer of Pakistan Customs on the charges of misconduct. According to an official notice, the FBR stated disciplinary proceedings were initiated against Syed Imtiaz Hussain Shah, Appraising Officer (BS-16), Directorate of Post Clearance Audit (North), Islamabad by […]

by Anjum Shah