KARACHI: Karachi Tax Bar Association (KTBA) has highlighted anomalies in single sales tax return form, which was to be filed for the month of December 2021 in January 2022. “The sales tax return form has been uploaded on the IRIS portal pre-maturely without removing bugs and without proper testing,” the KTBA said in a letter […]
ISLAMABAD: Federal Board of Revenue (FBR) on Monday extended date for filing sales tax return for the month of December 2021 up to January 24, 2022. The last date for filing the sales tax return for the month of December 2021 is January 18, 2021. The taxpayers are required to file their sales tax returns […]
ISLAMABAD: The President of Pakistan, Dr. Arif Alvi, expressed dismay over misconduct of tax authorities with an 82 year old taxpayers in a refund case. Dr. Alvi directed the chairman of the Federal Board of Revenue (FBR) to look into the entire system of irresponsibility and corruption and take punitive action against the entire chain […]
The Federal Board of Revenue (FBR) may disallow taxpayers’ transactions under sales tax laws if those are made through cash above Rs50,000. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 73 of the Sales Tax Act, […]
The Federal Board of Revenue (FBR) has prescribed procedure for grant of reward to Inland Revenue officials and whistleblowers for detection of tax evasion. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 72C and 72D […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday announced the winners of the first draw of prize scheme on invoices obtained from Point of Sales (POS). According to the FBR, the bumper prize of Rs one million has been won by Tanveer Ahmed. The second prize of two each Rs0.5 million has been won […]
The Federal Board of Revenue has been empowered to select taxpayers for audit through computerized balloting under Section 72B of Sales Tax Act. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 72B of the Sales Tax […]
Pakistan Navy and Pakistan Customs successfully intercepted and confiscated a substantial quantity of foreign-origin smuggled liquor in a joint open-sea operation.
ISLAMABAD: The Federal Board of Revenue (FBR) has amended rules related to sales tax de-registration of a person or a company. The FBR issued SRO 51(I)/2022 dated January 13, 2022 to amend Sales Tax Rules, 2006. Rule 11 of the Sales Tax Rules, 2006 deals with de-registration. Under this rule, sub-rule (1) every registered person […]
ISLAMABAD: The Federal Board of Revenue (FBR) has terminated the job of BS-17 official of Inland Revenue Service (IRS) on the charges of misconduct. The FBR issued an office order on Friday to notify the major penalty of ‘dismissal from service’ upon the officer. READ MORE: Senior FBR auditor awarded ‘dismissal from service’ for corruption […]