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ISLAMABAD: Federal Board of Revenue (FBR) on Monday suspended a BS-18 officer of Inland Revenue Service (IRS) for four months with immediate effect.
A notification said that the FBR while exercising powers conferred under Rule 5 of the Civil Servants (Efficiency & Discipline) Rules, 2020, placed Muhammad Jamshed Khan (IRS/BS-18), presently posted as deputy commissioner, Regional Tax Office, Rawalpindi under suspension for a period of 120 days with immediate effect until further orders.
ISLAMABAD: Member Inland Revenue (Operations) will directly receive complaints against corruption in order to provide secure channel of lodging complaints and in this regard SOP has been devised for handling of complaints.
The Circular No. 10 of 2021 – Operations issued on Monday, stated that in order to allay the fears of business community and citizen taxpayers, a convenient, and protected mechanism of filing complaints against corruption is being devised whereby all complaints would be received by Member IR Operation himself on an especially dedicated cell phone +92-0345-5555507; the cell phone would be in his own possession, exclusively.
“The complaints would be opened, acknowledged, and treated as per law in a highly confidential manner.”
The identity of the complainants would be immediately masked and encoded to safeguard them against any undue consequences.
The standard operating procedure (SOP) for lodging and handling of complaints against field functionaries is as under:
i. Complaints would be lodged through text message at cell No.. +92-345-5555507 – on Whatsapp, preferably.
ii. In Whatsapp text option, the complainant would identify himself by writing his name, address, CNIC the case particular and his cell phone number.
iii. The complainant would write the name(s) of the official(s) against whom the complaint is directed along with his/their designation, place of posting, and any other particulars, if available.
iv. The complaint must be supported by some evidence such as audio or video recording, text message exchange with the FBR functionary or any other documents, which could be attached with the text message, or subsequently sent by hard mail. If no such evidence is readily available, and affidavit on a legal paper, clearly spelling out the allegation and the person against whom the allegations are leveled would suffice.
v. Upon receipt of the complaint, a code number would be allotted to each complainant and his back-end identity data would be hidden beyond the access of field officers. This code number would help a complainant track progress on his complaint and the outcomes on it.
vi. Depending on the nature of the complaint and the evidence provided, the matter would be taken to logical consequence in the shortest possible time.
vii. Non-specific, unsupported or generalized complaints may not be processed.
The FBR said that taxpayers could not lodge complaints of corruption, rent-seeking and unethical conduct against any FBR functionary without any fear of reaction or revenge. However, in order to maintain the integrity of the system and achieve its intended objectives, the complainants would not level generalized allegations, and instead, file solid complaints, duly supported by evidence, and affidavits against the delinquent functionaries so that the malaise of corruption could be eliminated from the revenue functions of the state.
ISLAMABAD: Federal Board of Revenue (FBR) on Monday granted income tax exemption on profits derived by foreign nationals on yield of Eurobonds and International Sukuk issued by the government of Pakistan.
In this regard the FBR issued two notifications to make changes in Income Tax Ordinance, 2001.
The FBR issued SRO 268(I)/2021 and SRO 269 (I)/2021.
The FBR granted the exemption while exercising powers available under the Second Schedule of the Ordinance. Under the Schedule the government has authority to grant tax exemption of the income derived by foreign nationals of companies.
According to the notifications, the government granted the exemption to the profit on debt income of an agency of a foreign government, a foreign national company, firm or association of a person or any other non-resident person, on Eurobonds and International Sukuks issued under the government’s medium term note program.
ISLAMABAD: The tax authorities have issued 2.1 million notices to individuals and companies for non-compliance in annual return filing and to those who misdeclared assets in their annual returns of income, a statement issued by Federal Board of Revenue (FBR) said on Sunday.
These notices were sent to defaulters by February 28, 2021. The FBR issued notices around 1.4 million by January 31, 2021. It means during the month of February 2021 the revenue body issued another 700,000 notices to defaulters.
FBR is taking such action to broaden the tax base in the country. Early signs suggest such efforts are bearing fruits. As on February 28, 2021, the number of income tax returns filed was 2.63 million for tax year 2020 as compared with 2.43 million last year, showing an increase of 8 percent.
The FBR said that the tax return with return, however, increased by 60 percent to Rs49.6 billion up to February 28, 2021 as compared with Rs31 billion by the same date of the last year.
The FBR said that the income tax return for tax year 2020 had been increased despite the last date was not extended beyond December 08, 2020. Meanwhile the last date for filing income tax returns for tax year 2019 was extended up to February 25, 2020.
The exercise is eliciting encouraging response. However, those who are not complying would be pursued diligently until compliance is achieved.
Watch the story at the PkRevenue YouTube channel:
ISLAMABAD: Federal Board of Revenue (FBR) has received 2.63 million income tax returns for tax year 2020 by February 28, 2021, just one day ahead of issuing new Active Taxpayers List (ATL).
According to a statement issued on Sunday the FBR said that it had received 2.63 million income tax returns for tax year 2020 by February 28, 2021, which is 8 percent higher when compared with 2.43 million returns for tax year 2019 on the same date a year ago.
The FBR said that the tax return with return, however, increased by 60 percent to Rs49.6 billion up to February 28, 2021 as compared with Rs31 billion by the same date of the last year.
The FBR said that the income tax return for tax year 2020 had been increased despite the last date was not extended beyond December 08, 2020. Meanwhile the last date for filing income tax returns for tax year 2019 was extended up to February 25, 2020.
The FBR is scheduled to announce Active Taxpayers List (ATL) for tax year 2020 on March 01, 2021 which will carry the name of those taxpayers who filed their returns by due date or extended by commissioner inland revenue.
However, those late return filer will get also their names on the list who paid surcharge.
ISLAMABAD: Federal Board of Revenue (FBR) needs to collect Rs2,047 billion in last four months of the current fiscal year to achieve the revenue annual collection target of Rs4,963 billion, according to estimates of PkRevenue.com made after eight months collection issued on Sunday.
The FBR will need to grow the revenue at 64 percent during the last four months as it collected Rs1247 billion in the last four months of the fiscal year 2019/2020.
The FBR was assigned the annual collection target of Rs4,963 billion for fiscal year 2020/2021 as compared with total collection of Rs3,997 billion in the last fiscal year, which was 24.2 percent higher.
A spokesman of the FBR in a tweet said that the FBR provisionally collected Rs2,916 billion during first eight months (July – February) of 2020/2021 as against the collection of Rs2,750 billion in the corresponding months of the last fiscal year, showing a growth of 6 percent.
However, the collection for the period of first eight months of the current fiscal year is higher than the target of Rs2,898 billion assigned for the period, the spokesman said.
The revenue collection for the month of February also crossed the target of Rs325 billon to reach at Rs343 billion. However, the monthly collection is five percent higher when compared with Rs326 billion collected in the same month of the last year.
The gross collection of the FBR posted 9 percent growth to Rs3,068 billion during the first eight months of the current fiscal year as compared with Rs2,823 billion in the corresponding months of the last fiscal year.
The FBR said that considering the liquidity problems of the trade and industry due to coronavirus pandemic the issuance of refunds registered 97 percent increase. The FBR issued Rs152 billion as refunds during the first eight months of the current fiscal year as compared with Rs79 billion issued in the same period of the last fiscal year.
ISLAMABAD: Directorate of Customs Intelligence and Investigation (I&I) Faisalabad has announced public auction of huge quantity Indian origin fabric on March 03, 2021.
According to details the directorate announced to auction of confiscated goods and vehicles lying in the State Warehouse, I&I Customs Faisalabad. A huge quantity of 18,870 kilograms of Indian origin Shafoon cloth will be presented for the auction.
The details of other goods that will be presented for the auction is as following:
Old and used serviceable electric motors: 6000 kgs
Rani Fruit Juice (Made in Iran): 93840 tins
Dry Garlic Packed in PP bags: 7350 kgs
Cigarette Paper verge: 2000 kgs
Glassware crockery, Made in Iran: 1830-kgs
Cashew Karnels: 300 kgs
Shopping bags, product of Iran: 24,875 kgs
Knitted fabric in rolls: 1366 kgs
High Speed Diesel oil: 16,500 liters
The directorate will also auction following motor vehicles:
01. Toyota Premio Car, Model 2003, Chassis No. ZZT240-5001532, 1800CC, Registration No. QB-777, Islamabad
02. Toyota Premio Car, Model 2010, Chassis No. ZRT260-3070933, Engine No. 2ZR-0675778, 1797CC, Registration No. ZW-309, Islamabad
03. Toyota Fielder Car, Model 2000, Chasis No. NZE121-0011900, Engine No. 1nZ-FE, Horse Power 1500CC, Registration No. AAQ-078, Quetta.
04. Honda Civic Car, Model 2001, Chassis No. JHmES85801S204430, Engine No. D15Y6-1001921, 1500CC, Registration No. LEE14-9038
05. Toyota Fielder Car, Model 2004, Chassis No. NZE121-0306342, 1496CC, Registration No. AAN-468, Quetta
06. Toyota Corolla Car, Model 2004, Chassis No. NZE121-3270181. 1500CC, Registration No. BW-672 Islamabad
07. Toyota Vitz Car, Model 2006, Chassis No. KSP90-5068919, 1000CC, Registration No. LEA12-5079.
KARACHI: Federal Board of Revenue (FBR) has proposed penalty for defaulting in payment for customs clearance by Authorized Economic Operators (AEOs).
The FBR issued SRO 263(I)/2021 dated February 23, 2021 and proposed amendment to Customs Rules, 2002 related to authorized economic operators.
According to the law, the authorized economic operator (AEO) is a certified entity which fulfils the security criteria and other laid down obligations and derives benefits as prescribed in the rules and may include manufacturers, importers, exporters, customs house agents, brokers, shipping lines, carriers, consolidators, intermediaries, port operators, airport operators, terminal operators, integrate operators, warehouse, distributors, freight forwarders and logistic service providers.
According to the proposed amendment the facility of deferred payment of duty and taxes will be provided in such manner that all duty and taxes payment in a month shall be paid within that month by the last day of the month in which the clearance was made, otherwise AEO holder shall pay surcharge at the rate of three percent plus KIBOR from date of clearance of goods, and shall be liable for action deemed appropriate by the regulatory collector under the applicable law, which may include the suspension or revocation of the AEO status.
KARACHI: The tax authorities have collected Rs1.53 billion as withholding tax from new car sales and registration during seven months (July – January) of the current fiscal year.
The Inland Revenue offices of the Federal Board of Revenue (FBR) located in Karachi have collected Rs1.53 billion as withholding tax on new car sales and registration during first seven months of the current fiscal year as compared with Rs959 million in the corresponding months of the last fiscal year, according to official statistics made available to PkRevenue.com.
Motor registration authorities and car manufacturers collect withholding tax at the time of registration and sale of new car under Section 231B of the Income Tax Ordinance, 2001 on behalf of the FBR.
The tax collection at the time of sale by manufacturers increased to Rs616 million during first seven months of the current fiscal year as compared with Rs428 million in the corresponding months of the last fiscal year, showing an increase of 44 percent.
Similarly, the tax collection at the time of registration of new cars by provincial motor vehicle registration authorities sharply increased by 70 percent to Rs914 million during first seven months of the current fiscal year as compared with Rs531 million in the corresponding period of the last fiscal year.
The sharp increase in revenue collection under this head may be attributed to revival of economic activities after relaxation in restriction that were imposed to prevent coronavirus spread.
The sale of locally manufactured cars registered an increase of 23 percent to 97,469 units during first seven months of the current fiscal year to 79,458 units in the same period of the last fiscal year.
The growth has been seen even more higher while comparing the sale on year on year basis in January 2021. The car sales posted 46 percent to 17,515 units in January 2021 as compared with 11,964 units in the same month of the last year.
ISLAMABAD: Pakistan and Saudi Arabia have agreed to promote cooperation in the fields of duty and taxes to facilitate bilateral trade.
In this regard, Ambassador of Saudi Arabia in Pakistan, Nawaf Saeed Al-Malikey here on Saturday had a call on meeting with Chairman Federal Board of Revenue (FBR), Muhammad Javed Ghani during which matters of mutual concern pertaining to cooperation on customs and tax were discussed.
According to press statement issued by the board, it was agreed in the meeting that relevant departments of both countries would further promote the cooperation in the field of customs and tax and would learn from each other’s best practices which would result in increasing the trade volume between the two countries.
Chairman FBR briefed the Saudi Ambassador about the recent measures taken by FBR for the mobilization of revenue and facilitation of taxpayers.
The ambassador appreciated the recent performance of FBR in the first seven months of current Financial Year and hoped that FBR would successfully achieve the revenue target set for the current year.