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Category: Taxation

Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.

  • FBR orders food outlets to display tax amount

    FBR orders food outlets to display tax amount

    ISLAMABAD: Federal Board of Revenue (FBR) has made it mandatory for food outlets to display tax amount along with retail price in menus.

    The FBR on Wednesday issued SRO 353(I)/2020 to make it mandatory for all the restaurants, bakeries, caterers and sweetmeat shops supplying prepared foods, foodstuff and sweetmeat to show prices and amount of tax separately on menu cards for menu board displayed in their outlets for the end consumers.

    The FBR has made this requirement for tier-I retailers, who are required to integrate their point of sales with the FBR’s online system.

    The FBR also made amendment through notification and made it mandatory for all the retailers to show prices and amount of tax separately on the price tags attached with finished fabric and locally manufactured finished articles of textile and textile made-ups leathers and artificial leather.

    The FBR made these changes in order to ensure revenue generation from the retail sector. The FBR recently allowed input tax adjustment to Tier-1 retailers in order to attract more retailers into this segment.

  • FBR allows duty drawback on supplementary food items

    FBR allows duty drawback on supplementary food items

    ISLAMABAD: Federal Board of Revenue (FBR) has allowed duty drawback on import of ready to use supplementary food, which included palm oil and skimmed milk.

    The FBR on Tuesday issued SRO 341(I)/2020 to allow 5.33 percent freight on board (fob) to the extent of customs duty. The duty drawback is available from April 27, 2020.

    The facility has been allowed to items falling under HS Code 2106.9090, which included:

    01. RBD Palm Olien

    02. RBD Canola Oil

    03. Skimmed Milk Powder

    04. Emulsifier

    05. Vitamin and Mineral Premix

    06. Anti Oxidant

    07. Whey Powder

    08. Peanuts

  • Export tariffs, tax slabs may not change in budget: Razak Dawood

    Export tariffs, tax slabs may not change in budget: Razak Dawood

    ISLAMABAD: The government is likely to maintain the current export tariffs and tax slabs in the forthcoming budget, according to Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment.

    (more…)
  • PVC, PMC material allowed sales tax zero rating; Export Policy Order amended

    PVC, PMC material allowed sales tax zero rating; Export Policy Order amended

    ISLAMABAD: The ministry of commerce has allowed zero rating of sales tax on supply of PVC and PMC meterials from Export Processing ZOnes, Manufacturing Bonds and export oriented units.

    The commerce ministry on Monday issued SRO 351(I)/2020 dated May 04, 2020 to amend Export Policy Order 2016 regarding supply of PVC and PMC materials.

    According to the amendment: “… the export of PVC and PMC (HS Code 3901-3914) materials from the Export Processing Zones, manufacturing bonds and export oriented units shall be eligible for zero rating of sales tax.

    Through the SRO the ministry also amended the negative list for export to Afghanistan.

    The SRO omitted the entry of PVC and PMC from the third schedule of the Export Policy Order 2016.

  • FBR extends time limit for filing goods declaration

    FBR extends time limit for filing goods declaration

    KARACHI: Federal Board of Revenue (FBR) has extended time limit for filing goods declaration in order to facilitate trade considering problems faced during lockdown.

    The FBR on Monday issued a notification for extension in time limit for filing of goods declaration. The FBR said that it had further extended the time for filing of goods declaration for all IGMs filed between April 07, 2020 to May 09, 2020 provided that this order shall not be applicable in case any fine or penalty had already been paid by the importers.

    Earlier, Khurram Ijaz, Vice President, Federation of pakistan Chambers of Commerce and Industry (FPCCI) on May 02, 2020 requested the FBR for further extension in time limit for filing of goods declaration.

    Khurram Ijaz in his communication with the FBR appriciated the revenue board for extending the time for filing of goods declaration from 10 days of arrival of goods to further 15 days (total 25 days) for all IGMDs filed between March 17, 2020 and April 07, 2020.

    However, the FPCCI vice president apprised the FBR that continued extension in lockdown by the government causing delay in timely filing of goods declaration, hence opportunity provided the revenue board should be extended up to the current lockdown till May 09, 2020.

  • FBR collection falls by 13.4 percent in April

    FBR collection falls by 13.4 percent in April

    ISLAMABAD: The revenue collection has registered 13.4 percent decline in April 2020 over the corresponding month of the last year, due to ongoing lockdown to contain spread of coronavirus.

    According to provisional statistics of Federal Board of Revenue (FBR), the collection of duty and taxes fell to Rs256.68 billion in April 2020 as compared with Rs296.58 billion in the corresponding month last year.

    The FBR issued refunds in April 2020 to the tune of Rs 15.12 billion, which is 127 percent higher when compared with Rs6.66 billion in the corresponding month last year.

    Moreover, the Rs16 billion as refunds have been issued to exporters, Rs33 billion as arrear refunds and Rs15 billion as duty drawback in April 2020.

    The total collection of the FBR during first ten months (July – April) 2019/2020 increased to Rs3,408.83 billion showing an increase of 10.4 percent compared with the Rs3047.95 billion collected during the corresponding period of the last fiscal year.

    The refunds of Rs116.961 billion have been issued during first ten month of current fiscal year, which was Rs6.515 billion during July – April 2019/2020.

    The FBR has collected the target revenue of Rs200 billion for April 2020 and collected Rs256 billion out of revised annual revenue target of Rs3908 billion for the current Financial Year.

  • FBR extends sales tax return filing date up to May 15

    FBR extends sales tax return filing date up to May 15

    ISLAMABAD: Federal board of Revenue (FBR) on Thursday announced relief in sales tax return filing of last three months due to outbreak of coronavirus and lockdown in the country.

    The FBR issued a notification allowing taxpayers to make payment of sales tax and federal excise duty up to May 12, 2020 for the months January, February and March 2020.

    Further, the taxpayers have been allowed to file sales tax and federal excise monthly returns up to May 15, 2020 for the months January, February and March 2020.

    The FBR has been extending the date in order to facilitate the taxpayers to discharge their liabilities. However, cases of coronavirus were reported in February and subsequently lockdown was imposed in March, which resulted in halt of business activities.

  • FBR extends date to submit stock position up to May 15 for claiming refunds

    FBR extends date to submit stock position up to May 15 for claiming refunds

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday allowed taxpayers to submit their stock position for the period July– November 2019 up to May 15, 2020 in order to claim sales tax refunds under newly only verification and issuance system.

    In an official memorandum issued, the FBR extended the time limit for filing of Annexure – H for the tax period July – November 2019 up to May 15, 2020.

    Annexure-H is a statement for providing stock position by taxpayers along with monthly sales tax return.

    The FBR from July 01, 2019 introduced expeditious payment of sales tax refunds within 72 hours subject to the true filing of Annexure – H.

    As per the Rules, refund will be treated as having been filed only after filing of Annexure H of the Sales Tax return, for which deadline of 120 days has been prescribed in the Rules and the same can be extended for a period of 60 days on the basis of approval from the Commissioner.

  • FBR notifies transfers of 11 senior customs officers of BS-20-21

    FBR notifies transfers of 11 senior customs officers of BS-20-21

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday announced transfers of senior customs officers of BS-20 and BS-21 with immediate effect and until further orders.

    Following officers of Pakistan Customs Service (PCS) have been transferred:

    01. Muhammad Zahid (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Transit Trade, Karachi from the post of Director General, Directorate General of Intelligence & Investigation, FBR, Islamabad.

    02. Abdul Rashid Sheikh (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Intelligence & Investigation, FBR, Islamabad from the post of Director General, Directorate General of Post Clearance Audit & Internal Audit, Karachi.

    03. Sarfraz Ahmad Warraich (Pakistan Customs Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), Islamabad from the post of Director General, Directorate General of Transit Trade, Karachi.

    04. Ms. Zeba Hai Azhar (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Training & Research (Customs), Karachi from the post of Chief Collector, Customs Enforcement (Central), Lahore.

    05. Wasif Ali Memon (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Post Clearance Audit & Internal Audit, Karachi from the post of Chief Collector, Customs Enforcement (South), Karachi. The officer is also assigned the additional charge of the post of Director General, Risk Management, Karachi till the posting of a regular incumbent.

    06. Abdul Basit Chaudhry (Pakistan Customs Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), Islamabad from the post of Director General, Directorate General of Input Output Coefficient Organization, Karachi.

    07. Dr. Zulfikar Ali Chaudhary (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Customs Valuation, Karachi from the post of Chief Collector, Customs, Balochistan, Quetta.

    08. Faiz Ahmad (Pakistan Customs Service/BS-21) has been transferred and posted as Chief Collector Customs Enforcement (Central), Lahore from the post of Director General, Directorate General of Training & Research (Customs), Karachi.

    09. Dr. Saifuddin Junejo (Pakistan Customs Service/BS-21) has been transferred and posted as Chief Collector, Customs Enforcement (South), Karachi from the post of Collector, Model Customs Collectorate of Exports (Port Muhammad Bin Qasim), Karachi.

    10. Dr Samina Taslim Zehra (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Input Output Coefficient Organization, Karachi from the post of Director, Directorate of Input Output Coefficient Organization (South), Karachi.

    11. Muhammad Aamer (Pakistan Customs Service/BS-20) has been transferred and posted as Chief Collector (OPS), Customs, Balochistan, Quetta has been transferred and posted as Chief, Federal Board of Revenue (Hq), Islamabad.

    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 transfers 17 senior IRS officers of BS-20-21

    FBR transfers 17 senior IRS officers of BS-20-21

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday transferred and posted 17 officers of BS-20 and BS-21 of Inland Revenue Service (IRS) with immediate effect until further orders.

    Following officers have been transferred and posted:

    01. Dr. Ashfaq Ahmad Tunio (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Large Taxpayers Unit, Lahore from the post of Member, Federal Board of Revenue (Hq), Islamabad.

    02. Ms. Seema Shakil (Inland Revenue Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), Islamabad (Stationed at Karachi) from the post of Member, (IR-Operations) Federal Board of Revenue (Hq), Islamabad.

    03. Dr. Faiz Illahi Memon (Inland Revenue Service/BS-21) has been transferred and posted as Member, (Admn) Federal Board of Revenue (Hq), Islamabad from the post of Chief Commissioner, Large Taxpayers Unit, Karachi.

    04. Syed Nadeem Hussain Rizvi (Inland Revenue Service/BS-21) has been transferred and posted as Member, (IR-Operations) Federal Board of Revenue (Hq), Islamabad from the post of Member, (TPA) Federal Board of Revenue (Hq), Islamabad.

    05. Asim Majid Khan (Inland Revenue Service/BS-21) has been transferred and posted as Director General, (Retail) Federal Board of Revenue (Hq), Islamabad from the post of Chief Commissioner, Large Taxpayers Unit, Lahore. The officer is also assigned the additional charge of the post of Director General (WHT), FBR (HQ), Islamabad till the posting of a regular incumbent.

    06. Dr. Lubna Ayub (Inland Revenue Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), Islamabad (Stationed at Karachi) from the post of Chief Commissioner, Regional Tax Office, Hyderabad.

    07. Abdul Hameed Memon (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Director General, (Retail) Federal Board of Revenue (Hq), Islamabad.

    08. Sajidullah Siddiqui (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Commissioner, Inland Revenue (Appeals-II), Karachi.

    09. Badruddin Ahmad Quraishi (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Chief Commissioner, Regional Tax Office II, Karachi.

    10. Bakhtiar Muhammad (Inland Revenue Service/BS-21) has been transferred and posted as Member, (FATE) Federal Board of Revenue (Hq), Islamabad from the post of Member , Federal Board of Revenue (Hq), Islamabad with additional charge of Chief (IR-Operations-I), FBR (HQ), Islamabad.

    11. Mohammad Qasim Samad Khan (Inland Revenue Service/BS-21) has been transferred and posted as Member, (TPA) Federal Board of Revenue (Hq), Islamabad from the post of Member, Federal Board of Revenue (Hq), Islamabad.

    12. Ms. Ambreen Iftikhar (Inland Revenue Service/BS-21) has been transferred and posted as Member, (HRM) Federal Board of Revenue (Hq), Islamabad from the post of Member, Federal Board of Revenue (Hq), Islamabad. The officer shall assume charge after superannuation of Mian Saeed Iqbal (IRS/BS-22) w.e.f 12.05.2020.

    13. Dr. Aftab Imam (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Regional Tax Office, Quetta from the post of Chief Commissioner, Corporate Regional Tax Office, Karachi.

    14. Dr. Tauqeer Ahmad Memon (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Regional Tax Office, Hyderabad from the post of Chief Commissioner, Regional Tax Office, Sukkur.

    15. Shahid Iqbal Baloch (Inland Revenue Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), Islamabad (Stationed at Karachi) from the post of Chief Commissioner-IR, Large Taxpayers Unit-II, Karachi.

    16. Syed Syedain Raza Zaidi (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office II, Karachi from the post of Commissioner, Inland Revenue (Appeals-III), Karachi.

    17. Mohammad Farooq Azam Memon (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue Regional Tax Office, Sukkur from the post of Commissioner, Inland Revenue (Appeals), Hyderabad.

    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.

    All above listed officers are requested to Relinquish/Assume charge, using online HRMS facility made available to FBR or by using their IJP logins.