Sindh Revenue Board announces tax incentive package

KARACHI: Sindh Revenue Board (SRB) has announced tax incentive scheme and waived up to 100 percent penalty amount on payment of outstanding amount, said a statement on Monday. The SRB said that... Read more »

LTU Karachi auditor awarded ‘removal from service’

ISLAMABAD: Federal Board of Revenue (FBR) has awarded major penalty of ‘removal from service’ on an auditor (BS-18) posted at Large Taxpayers Unit (LTU) Karachi for inefficiency and misconduct. A notification issued... Read more »

FBR starts digital scrutiny of taxpayers’ information

ISLAMABAD: The Federal Board of Revenue (FBR) has established Tax Information Processing Unit (TIPU) for utilization of information available at multiple databases of the tax authorities. According to an office order issued... Read more »

Bilingual one-page income tax return form advised

KARACHI: Federal Board of Revenue (FBR) has been advised to make one-page simple income tax return form and that should be available in Urdu and English to facilitate taxpayers. In its proposals... Read more »

All income tax audit selections should bring under one provision

KARACHI: Federal Board of Revenue (FBR) has been urged to eliminate audit selection under various provisions of Income Tax Ordinance, 2001 for the confidence building of taxpayers. Karachi Chamber of Commerce and... Read more »

FBR records 31 percent decline in May collection

ISLAMABAD: Federal Board of Revenue (FBR) has recorded 31 percent decline in revenue collection during May 2020 owing to halt in economic activities after lockdown imposition. According to provisional figures released by... Read more »

FBR discontinues manual payment of income tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) has discontinued manual issuance of income tax refunds with immediate effect to ensure transparency. The release of income tax refunds will be carried out electronically, said... Read more »

SRB urged to allow normal tax for car dealers

KARACHI: Sindh Revenue Board (SRB) has been urged to bring authorized dealers of car manufacturers into normal tax regime. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget... Read more »

FBR recommended CNIC condition on sale of above 10 tola gold

KARACHI: Federal Board of Revenue (FBR) has been urged to fix the condition of Computerized National Identity Card (CNIC) on purchase of around 10 Tola or above of gold. Karachi Chamber of... Read more »

FBR advised to withdraw powers of freezing bank accounts for tax recovery

KARACHI: Federal Board of Revenue (FBR) has been advised to withdraw powers of tax officials related to freezing bank accounts for tax recovery. Karachi Chamber of Commerce and Industry (KCCI) in its... Read more »