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Category: Taxation

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  • Customs Intelligence announces auction of non-duty paid vehicles on December 26

    Customs Intelligence announces auction of non-duty paid vehicles on December 26

    ISLAMABAD: Directorate of Customs Intelligence and Investigation, Rawalpindi has announced auction of confiscated non-duty paid vehicles on December 26, 2019 at State Warehouse.

    The directorate to offer following non-duty paid vehicles for the auction:

    01. Mercedes Benz Car (Bullet Proof), Model 1994, Chassis No. WDB1400322A114335

    02. BMW 7 Series, Model 2003, Chassis No. WBAGN42070DE20464

    03. BMW 735 Li Car, Model 2003, Chassis No. WBAGN42050DE21385

    04. Honda City Car, Model 2003, Chassis No. GD8-1004386, Engine Capacity, 1300CC

    05. Toyota Corolla Car, Model 1995, Chassis No. AE100-3302749, Engine Capacity 1498CC

    06. Mercedes Benz Car, Model 1994, Chassis No. WDB2020182F044548

    07. Toyota Hilux Surf, Model 2004, Chassis No. VZN215-0006957, Engine Capacity 3378CC

    08. Toyota Mark-X Car, Model 2011, Chassis No. GRX130-6043630, Engine Capacity 2500CC

    09. Toyota Land Cruiser Cygnus, Model 2004, Chassis No. UZJ100-0149702, Engine Capacity 4663CC

    10. Toyota Crown Car, Model 2004, Chassis No. GRS180-5009970

    11. Toyota Hilux Surf, Model 1998, Chassis No. RZN185-9016724, Engine Capacity 2700CC

    12. Toyota Premio Car, Model 2004, Chassis No. NZT240-0065261, Engine Capacity 1797CC

    13. Toyota Mark X Car, Model 2014, Chassis No. GRX130-6084786, Engine Capacity 2499CC

    14. Honda Civic Reborn Car, Model 2005, Chassis No. FD3-1000784

    15. Toyota Corona Car, Model 1996, Chassis No. AT210-0001448, Engine Capacity 1600CC

    16. Suzuki Swift Car, Model 2007, Chassis No. ZC71S-426827

    17. Toyota Premio Car, Model 2007, Chassis No. ZRT260-3015732, Engine Capacity 1797CC

    18. Suzuki Intruder Motorcycle Heavy Bike, Chassis No. VK54A-100630

    19. Honda Civic Reborn Car, Model 2006, Chassis No. FD3-1004646

    20. Toyota Land Cruiser, Model 2003, Chassis No. UZJ100-0141251, Engine Capacity 4668CC

    21. Toyota Mark – X Car, Model 2010, Chassis No. GRZ130-6034481, Engine Capacity 2500CC

    22. Toyota Mark – X Car, Model 2005, Chassis No. GRX120-0031681, Engine Capacity 2500CC

    23. Honda Airwave Car, Model 2005, Chassis No. GHI-1036512, Engine Capacity 1496CC

    24. Toyota Mark – X Car, Model 2010, Chassis No. GRX130-6011393, Engine Capacity 2500CC

    25. Toyota Crown Car, Model 2002, Chassis No. JZS171-0086674

    26. Toyota Premio Car, Model 2008, Chassis No. ZRT261-3005333, Engine Capacity 1800CC

    27. Toyota Feilder Car, Model 2006, Chassis No. NZE121-0335592, Engine Capacity 1500CC

  • Sindh launches crackdown against tax defaulting motor vehicles from December 23

    Sindh launches crackdown against tax defaulting motor vehicles from December 23

    KARACHI: The Sindh government has decided to launch crackdown against tax defaulting motor vehicles across the province.

    The operation against tax defaulting motor vehicles will be launched from December 23, 2019.

    This decision was taken at a meeting, chaired by the Minister of Excise and Taxation and Narcotics Control and Parliamentary Affairs, Mukesh Kumar Chawla.

    The meeting was also attended by Secretary Excise and Taxation and Narcotics Control Abdul Haleem Sheikh, Director General Excise and Taxation and Narcotics Control Shoaib Ahmed Siddiqui and other officers.

    Giving the briefing to the meeting, Director General Shoaib Ahmed Siddiqui said that a massive public awareness campaign had been launched through media so that they could deposit their taxes in a timely manner and on the occasion of the road checking campaign, tax defaulting vehicles would be confiscated and the vehicles would be returned only after payment of due taxes and the arrears.

    Addressing the meeting, the Minister for Excise and Taxation and Narcotics Control and Parliamentary Affairs, Mukesh Kumar Chawla, advised the owners of the vehicles to transfer the vehicles into their names immediately after purchasing the vehicle because driving on open litter is a crime.

    He added that if the vehicle was used in a crime, then the person whose name was at that time, would be considered legally the original owner while there were 15 branches of National Bank of Pakistan for the convenience of the people to deposit their due taxes have been assigned and the details of these branches are posted on the department’s website and published in newspapers as well.

    On this occasion DG Shoaib Ahmed Siddiqui told that National Bank Branches were at Awami Markaz, Clifton, Site Area, Nazimabad, Shahbaz Building Hyderabad, Millat Road, Korangi Industrial Area, M.A. Jinnah, Dinsu Hall, Fatima Road Jinnah Road Hyderabad, DHA, PIDC, I.I Chandigarh Road, Gulshan and High Court.

    Provincial Minister Mukesh Kumar Chawla advised the owners of tax defaulting vehicles to deposit their taxes before December 23 to avoid any unpleasant situation on the roads

  • Informers to get 20% reward money in recovery against tax evasion

    Informers to get 20% reward money in recovery against tax evasion

    KARACHI: A person, who provides definite information of tax evasion and subsequent recovery, will get 20 percent of the recovered amount as reward.

    Officials of Federal Board of Revenue (FBR) told that the tax laws had defined the payment of reward.

    The amount of reward, in cases of exhibiting meritorious conduct to recovery of tax evaded or refund unlawfully paid, would be apportioned.

    The officials said that where an informer is involved in recovery of evaded tax then the informer will get 20 percent of the total recovery. The breakup of the reward amount would be 30 percent for employees involved in recovery. Further 10 percent will be given to supervising officers who write performance evaluation reports (PERs)

    The supporting staff of officers will get 15 percent, while 25 percent will be disbursed amongst Inland Revenue Welfare Fund.

    The officials said that where no informer is involved, the apportionment of the reward would be:

    Employees will get 50 percent; supervising officers who write performance evaluation reports (PERs) at 10 percent; supporting staff will get 15 percent; and Inland Revenue Welfare Fund will get 25 percent.

    The officials said that the amount of reward relating to officers and officials in the case where more than one individual is involved shall be distributed in proportion of their basic pay.

  • Auction of 30 vehicles mostly Model 2016-2018 announced for December 20

    Auction of 30 vehicles mostly Model 2016-2018 announced for December 20

    KARACHI: The Model Customs Collectorate (MCC) Appraisement – West, Karachi, has officially announced a public auction of used vehicles, scheduled to take place on December 20, 2019, at Al-Hamd International Container Terminal (AICT).

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  • Lawyers, doctors require to keep payment receipt record for tax purpose

    Lawyers, doctors require to keep payment receipt record for tax purpose

    In a move to enhance transparency and accountability, the Federal Board of Revenue (FBR) has implemented stringent regulations requiring professionals such as doctors, lawyers, and accountants to maintain meticulous records of payments received from clients or patients for income tax purposes.

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  • SRB suspends sales tax registration of Pak Tractors

    SRB suspends sales tax registration of Pak Tractors

    KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s Pak Tractors for defaulting tax payment and failure to comply with return filing.

    In a notice for suspension of registration, the SRB said that M/s. Pak Tractors failed to make the payment of Sindh Sales Tax on Service to the tune of Rs3.45 million for the period of February 2016 to October 2019.

    Similarly, the company also failed to file monthly sales tax returns for the period of February 2016 to October 2019.

    The provincial tax authority directed the company to take remedial actions by December 20, 2019 in order to revoke the suspension.

    In case of non-satisfactory response or failure to take remedial measures as suggested on or above before December 20, 2019, the case would be further proceeded for cancellation of the registration, the SRB said.

  • Amnesty declarants can pay tax at 20pc default surcharge by Dec 31

    Amnesty declarants can pay tax at 20pc default surcharge by Dec 31

    KARACHI: Persons / companies can avail amnesty scheme 2019 by paying 20 percent default surcharge by December 31, 2019 subject to declaration filed by due date.

    Officials at Federal Board of Revenue (FBR) said that the scheme was promulgated through presidential ordinance on May 14, 2019 to allow the non-documented economy’s inclusion in the taxation system and serve the purpose of economic revival and growth by encouraging a tax compliant economy.

    The amnesty was granted till on or before June 30, 2019 for a declaration only in respect of any –

    (a) undisclosed assets, held in Pakistan and abroad, acquired up to June 30, 2018;

    (b) undisclosed sales made up to June 30, 2018;

    (c) undisclosed expenditure incurred up to June 30, 2018; or

    (d) benami assets acquired or held on or before the date of declaration.

    As per the time of payment, the scheme allowed the due date for payment of tax on or before June 30, 2019. However after the due date, the tax shall be paid on or before June 30, 2020 along with default surcharges.

    If person fails to pay tax and default surcharge, the declaration made would be void and would be deemed to have never been made under the scheme.

    The rate of tax for the amnesty scheme was:

    01. All assets except domestic immovable properties at 4 percent

    02. Domestic immovable properties at 1.5 percent

    03. Foreign liquid assets not repatriated at 6 percent

    04. Unexplained expenditure at 4 percent

    05. Undisclosed sales at 2 percent.

    The rate of default surcharge under the scheme has been set to increase by a default surcharge by amount percentage as specified following:

    01. If the tax is paid after the June 30, 2019 and on or before September 30, 2019, the rate of default surcharge shall be 10 percent of the tax amount.

    02. If the tax is paid after September 30, 2019 and on or before December 31, 2019, the rate of default surcharge shall be 20 percent of the tax amount.

    03. If the tax is paid after December 31, 2019 and on or before March 31, 2020, the rate of default surcharge shall be 30 percent of the tax amount.

    04. If the tax is paid after March 31, 2020 and on or before June 30, 2020, the rate of default surcharge shall be 40 percent of the tax amount.

  • Procedure to get registered as informer with tax authority

    Procedure to get registered as informer with tax authority

    ISLAMABAD: The income tax rules has described the procedure for a person to get registered as an informer with Federal Board of Revenue (FBR) in order to provide information of tax evasion and get reward as per law.

    The tax officials said that Income Tax Rules, 2002 has explained the criteria for a person to become informer.

    According to the rules, a person, other than a lunatic or idiot, may be registered as informer, if he fulfills the criteria of whistleblower as defined in the tax laws.

    A registered informer shall be liable to de-registration on such condition to be recorded in writing and as may be deemed fit by Chief Commissioner, member or Director General, as the case may be.

    Registration of informer

    (1) Subject to section 227B of the Income Tax Ordinance 2001 (XLIX of 2001), section 72D of the Sales Tax Act, 1990 and section 42D of the Federal Excise Act, 2005, as the case may be, any person desirous of getting himself registered as an informer may make an application to the Chief Commissioner for registration under this rule.

    (2) The application under sun-rule (1) shall be in the prescribed form and shall be verified in the prescribed manner.

    (3) The application shall be accompanied by the following documents, namely.-

    (a) copy of the Computerized National Identity Card of the applicant;

    (b) copy of national tax number (NTN) certificate; and

    (c) a duly sworn in affidavit stating therein that the information being provided is correct and nothing has been concealed there from and that in case any incorrect information is provided or any information is concealed he shall be liable to penal action under the laws for the time being in force.

    Submission of information and further action thereupon

    (1) An informer shall submit any information regarding concealment or evasion of tax leading to detection or collection of taxes, fraud, corruption or misconduct that is in his possession to the Chief Commissioner giving precise details of the alleged act along with all supporting evidences that are in his possession:

    Provided that no information shall be entertained unless it gives precise details of the alleged act and is accompanied with the supporting evidences.

    (2) On receipt of the information, the Chief Commissioner shall scrutinize the information and forward it to the concerned Commissioner.

    (3) On receipt of the information from the Chief Commissioner, the concerned Commissioner shall conduct such further enquiry as he may deem fit and submit his report to the Chief Commissioner.

    (4) On completion of the enquiry, the concerned Commissioner shall take such further action as may be required under the tax laws or any other law for the time being in force, as may be necessary on the basis of the facts of the case, and furnish his report to the Chief Commissioner.

    (5) Notwithstanding anything contained in these rules, an informer, who −

    (a) has knowingly provided false information under these rules; or

    (b) has provided the information under these rules with the intention to intimidate or blackmail a person, or to bring him into disrepute, or to otherwise cause him financial loss, shall be liable to punishment and fine under the tax laws and other laws for the time being in force.

  • FBR grants fourth extension to file returns for tax year 2019

    FBR grants fourth extension to file returns for tax year 2019

    ISLAMABAD: Federal Board of Revenue (FBR) on Monday granted fourth extension for filing annual income tax returns for tax year 2019 up to December 31, 2019.

    The FBR issued Income Tax Circular No. 17/2019, to extend the date of filing of income tax returns/statements for tax year 2019.

    The date of filing of total income/statements of final taxation for individuals and associations of persons for the tax year 2019 which were due on September 30, 2019 and extended up to December 16, 2019 has been further extended up to December 31, 2019.

    The FBR further said that the date of filing of total income / statements of final taxation for companies for the tax year 2019, which were due on September 30, 2019 and extended up to December 16, 2019, in respect of those companies who have paid ninety five percent of the admitted tax liability on or before September 30, 2019, extended up to December 31, 2019.

  • Another date extension expected for filing returns tax year 2019

    Another date extension expected for filing returns tax year 2019

    ISLAMABAD: Tax managers and experts are expecting that the Federal Board of Revenue (FBR) likely to further extend the date for filing annual tax returns for tax year 2019.

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