Dec 12

FBR exempts CVT on assets of Reko Diq Mining Company

KARACHI: Federal Board of Revenue (FBR) on Monday exempted capital value tax (CVT) on all assets of Reko Diq Mining Company. The FBR issued SRO 2200(I)/2022 to announce that the federal government had exempted all assets of the Reko Diq Mining Company (Private) Limited (formerly) Tethyan Copper Company Pakistan (Private) Limited from the whole of […]

by Mrs. Anjum Shahnawaz

FBR chairman directs chief commissioners to meet December collection target

Dec 10

Taxation, Top stories

FBR chairman directs chief commissioners to meet December collection target

KARACHI: Asim Ahmed, Chairman, Federal Board of Revenue (FBR) on Saturday directed chief commissioners to ensure meeting revenue collection target for the month of December 2022. The FBR chairman visited Large Taxpayers Office (LTO) Karachi and held meeting with Chief Commissioners of all the field formations stationed at Karachi. READ MORE: SRB says cases worth […]

by Faisal Shahnawaz

SRB says cases worth Rs 80 billion stuck in litigation

Dec 10

Taxation, Trade & Industry

SRB says cases worth Rs 80 billion stuck in litigation

KARACHI: Sindh Revenue Board (SRB) Friday said that cases worth Rs80 billion were stuck in litigation and it is willing to resolve amicably. SRB chairman Dr. Wasif Ali Memon highlighted that Rs80 billion worth of cases are stuck in litigation and the provincial revenue board is all-willing to resolve as many cases amicably as possible. […]

by Faisal Shahnawaz

Customs appraising officer awarded major penalty for inefficiency

Dec 9

Pakistan Customs

Customs appraising officer awarded major penalty for inefficiency

KARACHI: A customs appraising officers has been awarded major penalty and demoted to lower scale on the charges of inefficiency. According to the Federal Board of Revenue (FBR) on Friday, disciplinary proceedings were initiated against Syed Muhammad Fawad Ahmad, Appraising Officer Collectorate of Customs Exports (Port Muhammad Bin Qasim), Karachi through an order of inquiry […]

by Faisal Shahnawaz

Further tax collection on pharmaceutical products unlawful: KTBA

Dec 8

Taxation

Further tax collection on pharmaceutical products unlawful: KTBA

Karachi Tax Bar Association (KTBA) on Thursday termed the collection of further tax on sales of pharmaceutical products to unregistered persons as unlawful. In a letter sent to Asim Ahmad, Chairman of Federal Board of Revenue (FBR), the tax bar informed that substances registered as drugs under the Drugs Act, 1976 were earlier exempt from […]

by Hamza Shahnawaz

Pakistan Customs to auction Toyota, Suzuki motor cars on Dec 14

Dec 8

Auction, Automotive, Pakistan Customs

Pakistan Customs to auction Toyota, Suzuki motor cars on Dec 14

ISLAMABAD: Pakistan Customs has announced auction Suzuki and Toyota motor vehicles, which will be held on December 14, 2022 at Sukkur. Following is the list of auction of vehicles lying in State Warehouse, Sukkur to be held on December 14, 2022: 01. Suzuki Kie Car, bearing Registration No. Without Number, Chassis No.HZ22S-675401, Engine No.K6A, Model […]

by Mrs. Anjum Shahnawaz

Non-filers will not be included in ATL 2022

Dec 8

National, Taxation, Top stories

Non-filers will not be included in ATL 2022

KARACHI: Non-filers of income tax return will not be included in the Active Taxpayers List (ATL) 2022, officials in the Federal Board of Revenue (FBR) said. The last date for filing income tax returns for tax year 2022 is December 2022. The date has already been extended twice. The actual last date for filing income […]

by Mrs. Anjum Shahnawaz

United States, Croatia sign income tax treaty

Dec 8

Taxation, World

United States, Croatia sign income tax treaty

WASHINGTON: The United States and Croatia on Wednesday signed a comprehensive income tax treaty between the two countries, according to an official statement issued by US Department of the Treasury. In a ceremony held at the US Department of State today, Under Secretary of State for Economic Growth, Energy and the Environment Jose W. Fernandez […]

by Mrs. Anjum Shahnawaz

FBR directs BS-21 officers to submit declaration of assets

Dec 6

Taxation

FBR directs BS-21 officers to submit declaration of assets

ISLAMABAD: Federal Board of Revenue (FBR) has directed BS-21 officers to submit their declaration of assets otherwise their names will not be considered for promotion to next grade. In an official communication issued on Monday, the FBR directed BS-21 officers of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS), who are in promotion zone, […]

by Mrs. Anjum Shahnawaz

FBR nominates focal persons for resolving issues of IT industry

Dec 5

IT & Telecom, Taxation

FBR nominates focal persons for resolving issues of IT industry

ISLAMABAD: Federal Board of Revenue (FBR) has nominated focal persons for resolving issues related IT industry. The following chief commissioners Inland Revenue (by designation) are nominated as focal persons for resolving problems and issues related to IT industry for the regions mentioned against each: Chief Commissioners – IR, Corporate Tax Office (CTO), Lahore, Islamabad and […]

by Mrs. Anjum Shahnawaz