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Category: Taxation

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  • MCC Preventive Karachi announces auction of motor vehicles on September 28

    MCC Preventive Karachi announces auction of motor vehicles on September 28

    KARACHI: Model Customs Collectorate (MCC) Preventive, Karachi on Thursday announced auction of motor vehicles to be held on September 28, 2020 at Anti-Smuggling Organization (ASO) Headquarter, NMB Wharf, Ghass Bandar, East Wharf, Karachi.

    Following vehicles to be presented for the auction:

    01. Toyota Harrier Jeep, Reg. No. JAA-454, Model 1998, 2999CC, Chassis No. MCU-10-0013510

    02. Toyota Mark-II Saloon Car, Reg. No. BBL-708, Model 2000, 1800HP, Chassis No. JZX110-6000922

    03. Toyota Hilux Surf Jeep, Reg. No. UU-691, Model 1992, 240CC, Chassis No. LN130-7022502

    04. Mercedes Saloon Car, Reg. No. ZA-030 (Islamabad), Model 2000, 3200CC, Color White, Chassis No. WDB1704652F205019

    05. BMW Car (735i), Reg. No. yG-455 (Islamabad), Model 2003, Color Black, Chassis No. WBAGL42050DD81475

    06. Toyota Mark-X, Reg. No. AEH-764, Model 2013, 2499CC, Chassis No. GRX-130-6077002

    07. Honda Civic Saloon Car, Reg. No. BEE 563, Model 2006, Chassis No. FD3-1006033

    08. Honda Civic Hybrid Car, Reg. No. GS-0487, Model 2005, Chassis No. FD3-1001034

    09. Hilux Surf Jeep, Reg. No. X-5251, Model 1994, Chassis No. KZN130-9021459

    10. Honda Civic Car, Reg. No. AJH-324, Model 2005, 1493CC, Chassis No. DAA-FD3-1000126

    11. Toyota Premio Car, Reg. No. UG-424 (Islamabad), Model 2005, 1998CC, Chassis No. AZT-240-0021746

  • Banks start sharing information with FBR

    Banks start sharing information with FBR

    ISLAMABAD: Banks have agreed to share information of accountholders through a solution developed by IT department of the Federal Board of Revenue (FBR), a spokesman said on Thursday.

    The spokesman said that the FBR and Pakistan Banks Association (PBA) have agreed on information sharing under Section 165 and Section 165A of Income Tax Ordinance, 2001.

    It is agreed that banks will provide information to the FBR regarding cash withdrawal, deposits, payment through credit card and profit on debt.

    The spokesman said that the solution would help the banks to instantly provide relevant information to the FBR.

    The banks have agreed to provide information to the FBR through IT solution from September 18, 2020.

  • Fake, flying invoices: IR intelligence unearths mega sales tax evasion

    Fake, flying invoices: IR intelligence unearths mega sales tax evasion

    ISLAMABAD: The Directorate of Intelligence and Investigation, Inland Revenue, Faisalabad has unearthed huge sales tax evasion and arrested culprits for issuing fake and flying invoices.

    A spokesman of Federal Board of Revenue (FBR) on Wednesday said that I&I IR Faisalabad had arrested proprietor of M/s SAYTEX INTERNATIONAL, one of the major culprits running the racket of fake and flying invoices, causing huge loss of revenue to the national exchequer.

    The directorate unearthed a big sales tax evasion scam of issuing/adjusting fake and flying invoices involving tax fraud of millions of rupees.

    Accordingly, prosecution proceedings against the members of the fraudsters’ gang were initiated and the First Information Report (FIR) was lodged against M/s Arrow International, its buyers, suppliers and other beneficiaries under section 37(a) of the Sales Tax Act 1990.

    The person arrested had issued fake invoices worth 104.446 million to M/s Arrow International and thus defrauded payment of due taxes thereon.

    Imran Zafar, Deputy Director, who arrested the accused has obtained physical remand of the accused from the learned Special Judge (Customs, Taxation & Anti-Smuggling), Lahore. The accused is currently under further investigation.

    Investigation from arrested persons subsequently led the Intelligence and Investigation Directorate to identification of real culprits behind establishment and running of this network of tax fraudsters involving 65 units and total invoice value amounts to Rs.1.3 billion.

  • FBR extends utilization period of input goods under export schemes

    FBR extends utilization period of input goods under export schemes

    ISLAMABAD: Federal Board of Revenue (FBR) has extended the utilization period of input goods under export facilitation schemes up to February 28, 2021 for all three schemes that are Manufacturing Bond, Export Oriented Units and Export Processing Zones, a statement said on Wednesday.

    A FBR spokesman said that this measure would ensure that the feared losses of these exporters due to Covid-19 Pandemic wherein orders were either cancelled or delayed shall be addressed.

    Pakistan Customs (FBR) is committed to achieve the vision of Prime Minister for exporter’s facilitation and addressing their genuine hardships on a proactive basis at their doorsteps.

    Such steps shall boost exports and will result in trade facilitation by ensuring competitiveness of our exported goods in international markets.

  • FBR introduces income tax return form in Urdu language

    FBR introduces income tax return form in Urdu language

    ISLAMABAD: Federal Board of Revenue (FBR) has introduced income tax return form in Urdu language in order to facilitate taxpayers, a FBR spokesman said on Wednesday.

    The spokesman said that on the vision of the Prime Minister to facilitate taxpayers and on the directives of Advisor to Prime Minister on Finance and Revenue, the FBR had introduced income tax return forms in the national language.

    The FBR introduced tax return forms in a wizard view for salaried persons and a simplified one-page tax return and one-page wealth statement issued in Urdu language.

    These return forms in Urdu language are available on the IRIS portal, the spokesman said.

    The spokesman said that to facilitate other taxpayers the FBR was also in process of preparing other return forms and mobile phone application Tax Asaan in Urdu language. These forms will be available soon on the FBR web portal, the spokesman added.

  • Regulatory duty, additional customs duty withdrawn on various textile products

    Regulatory duty, additional customs duty withdrawn on various textile products

    ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved withdrawal of regulatory duty and additional customs duty on various textile products.

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  • FBR advised to activate anti-corruption committees

    FBR advised to activate anti-corruption committees

    ISLAMABAD: A senior officer of Pakistan Customs has advised the Federal Board of Revenue (FBR) to activate recently established committees for eliminating corruption in the organization.

    Dr. Asif Mahmood Jah, Chief Collector Customs (North), who is also In charge of Integrity Management Cell, in a letter advised the FBR chairman to activate ‘integrity committees’ at the field level at the earliest.

    The collector said that with a view to giving an easy access to the general public for redressal of their grievances and transforming FBR into an accountable, fair and responsive organization, an “Integrity Management and Performance Management System” was established at FBR HQ in 2014.

    The system was aimed at combating corruption within the organization and providing checks to ensure the integrity of its employees.

    “Nevertheless, the accountability mechanism remained sluggish and slow owing to various HR and other related issues. It must, however, be understood, without any ambiguity, that FBR is following zero tolerance policy for corruption. Recent suspension of many officials/officers, clearly establishes our resolve against corrupt elements.”

    The collector said that recently the FBR geared up its efforts in line with the policy of the government to curb corruption and established internal integrity management system and accountability mechanism within the department.

    The collector further said that integrity management committees at the field formation level have also been notified by the board. All field formations of the FBR are, therefore, expected to follow a policy of zero tolerance for corruption and take every possible step to curb this menace.

  • Appraisement West Karachi announces auction of huge lot of vehicles on September 24

    Appraisement West Karachi announces auction of huge lot of vehicles on September 24

    KARACHI: Model Customs Collectorate of Appraisement and Facilitation (West) announced auction of huge lot of vehicles schedule on September 24, 2020 to be held at Bay-West Custom House Karachi.

    01. Honda/N Box, Chassis No. JF1-4101734, Model 2013

    02. Honda N-Box Mini Van, Chassis No: JF1-2211404, Model: 2014

    03. Honda N-Box Mini Van, Chassis No: JF1-3102085, Model: 2013

    04. Honda N Box, Chassis No: JF1-1226467, Model: 2013

    05. Honda N-Box Mini Van, Chassis No: JF1-1222313, Model: 2013

    06. Honda/N Box, Chassis No: JF1-1287038, Model: 2016

    07. Honda/ N Box Chassis No: JF1-1524358, Model: 2013

    08. Honda/ N Box, Chassis No: JF1-1257401, Model: 2013

    09. Honda/ N Box Chassis No: JF1-1848450

    10. Honda/ N Box Chassis No: JF3-2043350, Model: 2018

    11. Honda/ N Box Chassis No: JF3-2044810, Engine, Model: S078, Year: 2018

    12. Toyota Passo, Chassis No: KGC30-02550817 PCS Inner Cargo Autoparts, Model: 2016, Capacity: 996CC

    13. Suzuki Wagon R Car, Chassis No: MH555-240908, Model: 2018

    14. Suzuki Every, Chassis No: DA64V-846585, Model: 2014

    15. Toyota Aqua, chassis No: NHP10-6506987, Model: 2018, Capacity: 1496CC

    16. Suzuki Alto Car, Chassis No: HA365-2843191 PCS Inner Cargo Auto parts, Model: 2016

    17. Suzuki Every Van, Chassis No: DA64W-434983, Model: 2014

    18. Suzuki Wagon R Car, Chassis No: MH445-187722, Model: 2016

    19. Daihatsu Cast, Chassis No: LA260S-0013234, Model: 2017, Capacity: 658CC

    20. Suzuki Alto, Chassis No: HA365-388444, Model: 2018

    21. Daihatsu Cast, Chassis No: LA260S-0024543, Model: 2017, Capacity: 658CC

    22. Daihatsu Mira, Chassis No: LA300S-1374404, Model: 2016, Capacity: 658CC

    23. Suzuki Every, Chassis No. DA17V-142150, Model 2015

    24. Suzuki Alto Hatch Back, Chassis No. MA3GFC31S00738121, Model 2014, Color Grey

    25. Toyota Probox, Chassis No. NCP50-0135650, Model 2013, Capacity 1298CC

    26. Toyota Probox, Chassis No. NCP50-0136868, Model 2013, Capacity 1298CC

    27. Toyota Probox, Chassis No. NCP50-0136983, Model 2013, Capacity 1298CC

    28. Toyota Probox, Chassis No. NCP50-0136507, Model 2013, Capacity 1298CC

    29. Toyota Probox, Chassis No. NCP50-0136762, Model 2013, Capacity 1298CC

    30. Toyota Probox, Chassis No. NCP50-0136449, Model 2013, Capacity 1298CC

    31. Toyota Probox, Chassis No. NCP50-0142611, Model 2013, Capacity 1298CC

    32. Toyota/Fielde, Chassis No. NKE165-8048210

    33. Honda / VEZEL, Chassis No. RU3-1271244, Model 2017

    34. Nissan Clipper Van, Chassis No. DA64V-802265, Model 2014

    35. Honda VEZEL, Chassis No. RU3-119150, Model 2015

    36. Honda VEZEL, Chassis No. RU3-1128619, Model 2015

    37. Mitsubishi/EK Wagon, Chassis No. B11W-0224971, Model 2016

    38. Daihatsu/Mira ES, Chassis No. LA300S-1413146, Model 2017, Capacity 658CC

  • Revenue collection plunges by 16 percent during March-June COVID lockdown

    Revenue collection plunges by 16 percent during March-June COVID lockdown

    The Federal Board of Revenue (FBR) of Pakistan has experienced a significant decline in revenue collection, with a 16% drop recorded during the four-month period from March to June 2020, compared to the same months last year.

    (more…)
  • FBR to install surveillance cameras at factory premises

    FBR to install surveillance cameras at factory premises

    ISLAMABAD: Federal Board of Revenue (FBR) has amended sales tax rules for installing surveillance cameras at factory premises to monitor production of goods in various sectors to prevent tax evasion.

    The FBR issued SRO 889(I)/2020 on Monday to amend Sales Tax Rules, 2006 and introduced rules namely ‘Video Analytics Rules for Electronic Monitoring of Production of Specified Goods.’

    The FBR said that the provisions of the rules shall apply to video surveillance for electronic monitoring of production on real-time basis.

    The FBR shall monitor, under these rules, the goods specified in Third Schedule appended to the Sales Tax Act, 1990.

    The FBR said that production of specified goods, manufactured in Pakistan, shall be monitored through intelligent video surveillance, and video analytics by installation of equipment including video cameras, sensors, etc. at production lines, as are approved by the FBR, for:

    — real time collection of data that shows production through object detection and object counting;

    — transmission of data to central control room at FBR on real time basis, storage and archiving of data;

    — detection of unexpected stops;

    — quantitative analyses of productions; and

    — data analytics for required legal actions.

    The FBR further said that no person engaged in manufacturing of specified goods shall remove the production from its business premises unless it has undergone the process of intelligent video surveillance.

    The IT team of the FBR shall ensure that each factory premises is connected to the system with adequate IT infrastructure required for real time electronic monitoring of production and generation of periodic reports.