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Category: Taxation

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  • Tax officials meet foreign investors to resolve issues

    Tax officials meet foreign investors to resolve issues

    KARACHI: A team of senior tax officials held a meeting with foreign investors on Tuesday in order to resolve their pending issues.

    The team of senior tax officials was headed by Shahid Iqbal Baloch, Chief Commissioner Inland Revenue (CCIR), Large Taxpayers Office (LTO) Karachi. Kazi Hifzur Rehman, Commissioner Inland Revenue, Audit Zone-III, LTO Karachi was also with him to attend the meeting at the premises of Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of the foreign investors operating in Pakistan.

    Chief Executive / Secretary-General of OICCI Abdul Aleem and other member taxpayers of OICCI attended the meeting.

    The CE / Secretary-General welcomed the Chief Commissioner-IR, Large Taxpayers Office, Karachi Shahid Iqbal Baloch, KaziHifzur Rehman, Commissioner-IR, to OICCI.

    CCIR LTO Karachi Shahid Iqbal Baloch highlighted the role of his office in the collection of all domestic taxes particularly with reference to members of OICCI, who are the highest taxpayers of the country.

    The members of OICCI shared their views and issues of taxation with the Chief Commissioner-IR, LTO, Karachi who also ensured their timely completion and highlighted that the team of officers posted at LTO, Karachi are thorough professionals and it was reiterated that all their pending issues related to taxes shall be completed as per law accordingly.

    The meeting ended with vote of thanks by the Chief Commissioner-IR, LTO, Karachi Mr. Shahid Iqbal Baloch.

    LTO Karachi, PBC discuss tax issues
  • Pakistan, China sign protocol for onion quarantine

    Pakistan, China sign protocol for onion quarantine

    ISLAMABAD: A protocol was signed on Tuesday between Pakistani and Chinese authorities for inspection and quarantine requirements for onion export from Pakistan to China.

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  • Dr. Wasif Memon appointed as SRB chairman

    Dr. Wasif Memon appointed as SRB chairman

    KARACHI: Dr. Wasif Ali Memon, a former senior officer of the Federal Board of Revenue (FBR), has been appointed as the Chairman of the Sindh Revenue Board (SRB) by the provincial government.

    The Sindh government has issued a notification dated November 23, 2021, to appoint Dr. Wasif Ali Memon as the chairman of the SRB.

    Dr. Wasif was already working in SRB as a senior member. Prior to this assignment, he had served as an officer of the Pakistan Customs Service (PCS) for 31 years in various capacities including chief collector and director-general.

    The contribution of Dr. Wasi Ali at the SRB in the capacity of a senior member (legal, audit, and IT) is worth mentioning as he expedited the process of effective litigation management, risk-based audit system besides introducing innovations in the digitalization of SRB.

    He worked in active coordination with other provincial revenue authorities and the Federal Board of Revenue (FBR) and participated in activities under the auspices of the National Tax Council.

    He also remained in close coordination with International Donors and Development Agencies.

    Given the relevant skillset and capacities gathered over his illustrious career of 32 years, as a thorough professional, SRB and the provincial government expect to hugely benefit from his services.

  • PM Imran launches tax monitoring ‘track, trace’ system

    PM Imran launches tax monitoring ‘track, trace’ system

    ISLAMABAD: Prime Minister Imran Khan on Tuesday launched the online monitoring of supply and production of various items in order to plug revenue leakages.

    Taxes vital for country’s economic stability and survival, the prime minister hoped and said that the use of technology will help check tax-pilferage and take revenue collection to the tune of Rs 8000 billion per annum.

    “Our biggest issue is that we have to take loans to run the country. Countries cannot be run without taxes. We have our stability at stake,” the prime minister added.

    The Federal Board of Revenue (FBR) has introduced the first-ever track and trace system in the country.

    The prime minister congratulated the Advisor of Finance Shaukat Tarin, FBR, and other relevant institutions for introducing the technology-based system for which the efforts were being done since 2008.

    The Prime Minister said that the introduction of the track and trace system was a big and positive achievement, which will have a far-reaching impact.

    According to details, the FBR’s track and trace system will ensure electronic monitoring of the production and sale of important sectors like tobacco, fertilizer, sugar, and cement.

    With the electronic monitoring of goods’ movement from production to the use of consumers, the track and trace system besides increasing the country’s revenue will also help ensure transparency and check the pilferage of taxes.

    After the implementation of the track and trace system in the tobacco sector, the FBR was now going to introduce this system in the sugar sector, which will follow the implementation of electric monitoring of other sectors as well.

    Under the new system, no sugar bag can be taken out from the production site, factory or manufacturing plant without a stamp and individual identity mark. The FBR was also planning to implement the new system in the beverages and petroleum sectors.

    The Prime Minister said that with a reasonable tax-to-GDP ratio in the West and highest in Scandinavian countries, Pakistan could not promote the tax culture due to different reasons including the aristocratic lifestyle of the ruling elite in the past, which shattered the confidence of taxpayers in governments.

    The practice of not paying due taxes was continuing since the colonial era, when people used to think that their hard-earned money was being taken out by the foreign rulers and they were not being provided basic facilities, he remarked.

    PM Imran launches automation of power of attorney
  • Powers and functions of directorates

    Powers and functions of directorates

    The Sales Tax Act, 1990, under Section 30E, provides clarity on the powers and functions of Directorates and their officers.

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  • FBR notifies transfers of Customs officers of BS 17-19

    FBR notifies transfers of Customs officers of BS 17-19

    ISLAMABAD: Federal Board of Revenue (FBR) on Monday, November 22, 2021, notified transfers and postings of officers of Pakistan Customs Service (PCS) in BS-17 to BS-19 with immediate effect until further orders.

    The FBR notified transfers and postings of the following Customs officers:

    01. Tasleem Akhtar (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate General of Training & Research (Customs), Karachi from the post of Additional Director, Directorate of Intelligence & Investigation, FBR, Karachi.

    02. Omar Shafique (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation, FBR, Karachi from the post of Additional Collector, Collectorate of Customs Enforcement, Quetta.

    03. Moeen Afzal Ali (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Collectorate of Customs Enforcement, Quetta from the post of Additional Collector, Collectorate of Customs (Exports), Port Muhammad Bin Qasim, Karachi.

    04. Rana Irfan Shaukat (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Collectorate of Customs Enforcement, Multan from the post of Additional Director, Directorate of Intelligence & Investigation, FBR, Multan.

    05. Syed Itrat Hussain (Pakistan Customs Service/BS-18) has been transferred and posted as Deputy Director, Directorate of Intelligence & Investigation, FBR, Multan from the post of Deputy Director, Directorate of IPR Enforcement (North), Islamabad.

    06. Dr. Jam Muhammad Imran (Pakistan Customs Service/BS-18) has been transferred and posted as Deputy Director, Directorate General of Intelligence & Investigation, FBR, Islamabad from the post of Deputy Director, Directorate General of Input Output Coefficient Organization, Karachi.

    07. Muhammad Ahmad Zaheer (Pakistan Customs Service/BS-17) has been transferred and posted as Assistant Director, Directorate of Post Clearance Audit (Central), Lahore from the post of Assistant Director, Directorate of Intelligence & Investigation, FBR, Lahore.

    08. Muhammad Saleem (Pakistan Customs Service/BS-17) has been transferred and posted as Assistant Collector, Collectorate of Customs (Exports), Port Muhammad Bin Qasim, Karachi from the post of Assistant Director, Directorate of Intelligence & Investigation, FBR, Gwadar.

    The FBR said that the officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting.

    FBR promotes 18 Customs officials to Assistant Collector
  • Formation of Directorates under Sales Tax Act

    Formation of Directorates under Sales Tax Act

    Section 30B to 30DDD of Sales Tax Act, 1990 has explained formation of Directorates under Sales Tax Act, 1990.

    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 30B to 30DDD of the Sales Tax Act, 1990:

    30B. Directorate General Internal Audit.– The Directorate General Internal Audit shall consist of a Director General and as many Directors, Additional Directors, Deputy Directors and Assistant Directors and such other officers as the Board, may by notification in the official Gazette, appoint.

    30C. Directorate General of Training and Research.–The Directorate General of Training and Research shall consist of a Director General and as many Directors, Additional Directors, Deputy Directors and Assistant Directors and such other officers as the Board, may by notification in the official Gazette, appoint.

    30D. Directorate General of Valuation.–The Directorate General of Valuation shall consist of a Director General and as many Directors, Additional Directors, Deputy Directors and Assistant Directors and such other officers as the Board, may by notification in the official Gazette, appoint.

    30DD. Directorate of Post Clearance Audit.– The Directorate of Post clearance Audit shall consist of a Director and as many Additional Directors, Deputy Directors, Assistant Directors and such other officers as the Board may, by notification in the official Gazette, appoint.

    30DDD. Directorate General of Input Output Co-efficient Organization.- The Directorate General of Input Output Coefficient Organization (IOCO)-Inland Revenue shall consist of a Director General and as many Directors, Additional Directors, Deputy Directors, Assistant Directors and such other officers as the Board may, by notification in the official Gazette, appoint.

    (Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

    Intelligence officers empowered to exercise sales tax law
  • Pakistan allows sales tax exemption on Afghan fruits

    Pakistan allows sales tax exemption on Afghan fruits

    The Federal Board of Revenue (FBR) in Pakistan issued a sales tax notification, SRO 1501(I)/2021, on Monday, formalizing the government’s decision to exempt the sales tax on the import of most Afghan fruits.

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  • Intelligence officers empowered to exercise sales tax law

    Intelligence officers empowered to exercise sales tax law

    In a strategic move to enhance the enforcement and intelligence capabilities within the tax framework, the Federal Board of Revenue (FBR) has introduced Section 30A in the Sales Tax Act, 1990.

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  • Appointment of FBR officers for exercising sales tax law

    Appointment of FBR officers for exercising sales tax law

    Section 30 of Sales Tax Act, 1990 has explained appointment of Federal Board of Revenue (FBR) officers for exercising sales tax law.

    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 30 of the Sales Tax Act, 1990:

    30. Appointment of Authorities.– (1) For the purposes of this Act, the Board may, appoint in relation to any area, person or class of persons, any person to be –

    (a) a chief commissioner of Inland Revenue;

    (b) a commissioner of Inland Revenue ;

    (c) a commissioner of Inland Revenue (Appeals);

    (d) an Additional commissioner of Inland Revenue ;

    (e) a Deputy commissioner of Inland Revenue;

    (ea) District Taxation Officer Inland Revenue;

    (f) an Assistant commissioner of Inland Revenue;

    (fa) Assistant Director Audit Inland Revenue;

    (g) an Inland Revenue Officer;

    (h) a Superintendent Inland Revenue;

    (i) an Inland Revenue Auditor Officer;

    (ia) an inspector Inland Revenue; and

    (j) an officer of Inland Revenue with any other designation.

    (2) The Chief Commissioner Inland Revenue and Commissioner Inland Revenue (Appeals) shall be sub-ordinate to the Board and Commissioner Inland Revenue shall be sub-ordinate to the Chief Commissioner Inland Revenue.

    (2A) The Chief Commissioners Inland Revenue shall perform their functions in respect of such persons or classes of persons or such areas as the Board may direct.

    (2B) The Commissioners Inland Revenue shall perform their functions in respect of such persons or classes of persons or such areas as the Chief Commissioner, to whom they are sub-ordinate, may direct.

    (3) Additional Commissioner Inland Revenue, Deputy Commissioners Inland Revenue, District Taxation Officer Inland Revenue, Assistant Commissioner Inland Revenue, Assistant Director Audit Inland Revenue, Superintendent Inland Revenue, Inland Revenue Audit Officer, Inland Revenue Officer, Inspector Inland Revenue, and officer of Inland Revenue with any other designation shall be sub-ordinate to the Commissioner Inland Revenue and shall perform their functions in respect of such persons or classes of persons or such areas as the Commissioners, to whom they are sub ordinate, may direct.

    (4) Deputy Commissioner Inland Revenue, District Taxation Officer Inland Revenue, Assistant Commissioner Inland Revenue, Assistant Director Audit Inland Revenue, Superintendent Inland Revenue, Inland Revenue Audit Officer, Inland revenue Officer, Inspector Inland Revenue Officer an officer of Inland Revenue with any other designation shall be sub-ordinate to the Additional Commissioner Inland Revenue.

    (Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

    Filing of special, final returns under Sales Tax Act