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Category: Taxation

Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.

  • FBR sets up DGBTB for taking action against tax evaders

    FBR sets up DGBTB for taking action against tax evaders

    ISLAMABAD: Federal Board of Revenue (FBR) on Friday established a new directorate for taking action against tax evaders.

    The FBR notified to create Directorate General of Broadening of Tax Base (DGBTB) to bring potential taxpayers into tax net.

    The new directorate, which was already made part of the statute, will work on the available data of persons and companies those were not into the tax net.

    The directorate will have powers to identify new taxpayers, issue notice and to initiate legal action.

    The FBR currently reportedly has huge data of persons having taxable income but not on the tax roll. In the existing set up the BTB action was taken as per routine matter.

    The new directorate will also have jurisdiction over benami cases and take action as per law.

    The FBR recently notified rules for benami laws which was approved by the National Assembly in January 2017. The FBR has transferred the cases of benami properties to BTB wing to initiate legal action against tax evaders.

  • Income Tax Ordinance 2001: Income from pension funds tax exempted

    Income Tax Ordinance 2001: Income from pension funds tax exempted

    KARACHI: The government has allowed tax exemption to the income derived by pensioners invested in various schemes, including pension funds.

    The Second Schedule of Income Tax Ordinance, 2001 allowed tax exemption to the income derived by pensioners.

    The following exemptions are available to the pensioners:

    Any payment from a provident fund to which the Provident Funds Act, 1925 applies.

    The accumulated balance due and becoming payable to an employee participating in a recognized provident fund.

    The accumulated balance up to 50 percent received from the voluntary pension system offered by a pension fund manager under the Voluntary Pension System Rules, 2005 at the time of eligible person’s-

    (a) retirement; or

    (b) disability rendering him unable to work.

    The amounts received as monthly installment from an income payment plan invested out of the accumulated balance of an individual pension accounts with a pension fund manager or an approved annuity plan or another individual pension account of eligible person or the survivors pension account maintained with any other pension fund manager as specified in the Voluntary Pension System Rules 2005 shall be exempt from tax provided accumulated balance is invested for a period of ten years:

    Provided that where any amount is exempted under this clause and subsequently it is discovered, on the basis of documents or otherwise, by the Commissioner that any of the conditions specified in this clause were not fulfilled, the exemption originally allowed shall be deemed to have been wrongly allowed and the Commissioner may, notwithstanding anything contained in this Ordinance, re-compute the tax payable by the taxpayer for the relevant years and the provisions of this Ordinance shall, so far as may be, apply accordingly.

    Any withdrawal of accumulated balance from approved pension fund that represent the transfer of balance of approved provident fund to the said approved pension fund under the Voluntary Pension System Rules , 2005.

    Any benevolent grant paid from the Benevolent Fund to the employees or members of their families in accordance with the provisions of the Central Employee Benevolent Fund and Group Insurance Act, 1969.

    Any payment from an approved superannuation fund made on the death of a beneficiary or in lieu of or in commutation of any annuity, or by way of refund of contribution on the death of a beneficiary.

    Any income of a person representing the sums received by him as a worker from out of the Workers Participation Fund established under the Companies Profits (Workers Participation) Act, 1968.

  • KTBA elects Rehan Siddiqui as president for 2019-2020

    KTBA elects Rehan Siddiqui as president for 2019-2020

    KARACHI: Karachi Tax Bar Association (KTBA) in the 62nd Annual General Meeting held on Thursday announced Muhammad Rehan Siddiqui as president of the association of the term 2019-2020.

    The AGM announced following office bearers and executive committee after the election 2019:

    Office Bearers:

    Muhammad Rehan Siddiqui, President

    Syed Hassan Naeem, Vice President

    Syed Zafar Ahmed, General Secretary

    Ammar Ather Saeed, Joint Secretary

    Muhammad Mustafa Raheem, Librarian

    Executive Committee Member:

    Arshad Ali Siddiqui

    Arshad Mahmood

    Ghulam Rabbani

    Iqbal Ahmad Abdan

    Irfan Ghafoor

    Khalid Mahmood Siddiqui

    Muhammad Mehmood Bikiya

    Syed Faiq Raza Rizvi

  • FBR temporarily halts raids on tax evaders

    FBR temporarily halts raids on tax evaders

    ISLAMABAD: Federal Board of Revenue (FBR) has temporarily halted raids on tax evaders on assurance of business community.

    The FBR has given an opportunity to non-compliant taxpayers to declare their income and assets by filing annual returns up to March 31.

    At a media briefing on Thursday, Member Inland Revenue (Poilcy) Doctor Hamid Ateeq Sarwar and Member Inland Revenue (Operations) said that the FBR stopped the recovery campaign for fifteen days.

    The members said that the raids have been suspended as a good gesture on the request of the business community.

    Chambers and trade bodies have assured their cooperation in recovery of due amount of taxes from business community.

    Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and other business community had raised the issue of raids by tax offices during recent visit of FBR chairman Mohammad Jehanzeb Khan to Karachi.

    Member IR Operations Seema Shakil confirmed the issuance of notice to former president Asif Ali Zardari. She said that relevant office in Karachi which is dealing the case.

  • Ministry probes Indian expired mango pulp entry

    Ministry probes Indian expired mango pulp entry

    ISLAMABAD: Ministry of National Food Security & Research (MNFSR) has taken notice of reports regarding the “import of expired Indian mango pulp”.

    The Ministry of National Food Security and Research made thorough investigation of the matter, a statement said on Thursday.

    In this backdrop the official stance of the Ministry of National Food Security & Research is as follows:

    “Mango pulp is a regulatory article under Plant Quarantine Act (PAQ) 1976 and Plant Quarantine Rule (PAR) 1967 which is enforced by Department of Plant Protection (DPP) M/o NFS &R.”

    For further assurance and strict compliance, SRO 1067(i)/2017 dated 20th October, 2017 was issued and amendments were made in the Import Permit Policy Order, 2016 to give clarity to the Custom of Pakistan and all stakeholders regarding import of all agro products in the country.

    Furthermore, for the import of mango pulp, there is a mandatory requirement of a valid import permit from DPP, valid Phyto-sanitary Certificate from exporting country and Plant Protection Release Order (PPRO) of DPP, before releasing the consignment by the Custom authorities.

    The Ministry of National Food Security through its attached departments has probed the matter after the news item was published and hence clarified that neither the DPP, has given any Import Permit nor has given any PPRO for entry in the country.

    However, it is assumed that without doing needful, the said consignment was released in clear violation of PQA 1976 and PQR 1967 and SRO 1067(i)/2017. It is further reiterated that there is no role of Ministry of National Food Security & Research regarding import of expired mango pulp in the country.

    However, the Ministry is taking up the matter with Federal Board of Revenue (FBR) and provincial Food Authorities to further probe the matter and take appropriate action defined in relevant laws/regulations.

  • FBR notifies transfers, postings of IRS officers of BS-16-19

    FBR notifies transfers, postings of IRS officers of BS-16-19

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified transfers and postings of Inland Revenue Service (IRS) officers of BS-16 to BS-19 with immediate effect until further orders.

    Following officers have been notified under the transfers and postings:

    01. Abdur Razzaq Khan (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Lahore from the post of Additional Commissioner, Regional Tax Office, Sahiwal.

    02. Ms. Kehkshan Khan (Inland Revenue Service/BS-18) on promotion has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit, Lahore.

    03. Ms. Rukhsana Arif (Inland Revenue Service/BS-18) on promotion has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Lahore.

    04. Ghulam Hussain (Inland Revenue Service/BS-18) on promotion has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Bahawalpur.

    05. Ms. Amra Sarwar (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Lahore from the post of Deputy Commissioner, Corporate Regional Tax Office, Lahore.

    06. Asad Aziz (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Sargodha from the post of Deputy Commissioner, Regional Tax Office, Sargodha.

    07. Ms. Saba Rehmat (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Islamabad from the post of Deputy Director, Directorate of Immovable Property (North), Islamabad.

    08. Karim Baksh Bughio (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, (AEOI Zone) Large Taxpayers Unit, Karachi.

    09. Mrs. Saima Kenan Khan (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Peshawar from the post of Deputy Director, Addl. Directorate of Internal Audit (Inland Revenue), Peshawar.

    10. Husnain Ahmad Hali (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office II, Lahore from the post of Deputy Commissioner, (IR) Regional Tax Office II, Lahore.

    11. Kashif Hafeez (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    12. Inayat Malik (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Large Taxpayers Unit, Islamabad.

    13. Akhtar Abbas (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office II, Lahore from the post of Deputy Director, Directorate of Intelligence & Investigation (Inland Revenue), Lahore.

    14. Jamil Ahmad (Inland Revenue Service/BS-18) has been transferred and posted as Additional Director, (On acting charge) Directorate of Intelligence & Investigation (Inland Revenue), Karachi from the post of Deputy Director, (IR) Directorate of Intelligence & Investigation (Inland Revenue), Karachi.

    15. Muhammad Masood Ahmed Gorsi (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    16. Kamran Ullah (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Rawalpindi from the post of Deputy Director, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad.

    17. Laiq Zaman (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit-II, Karachi.

    18. Naseebullah (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    19. Naseer Ahmed (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    20. Muhammad Sajid Ahmad (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Lahore from the post of Deputy Commissioner, Large Taxpayers Unit, Lahore.

    21. Syed Zubair Shah (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Abbottabad.

    22. Asif Jamali (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit-II, Karachi.

    23. Amjad Ali Moroojo (AOST/BS-18) has been transferred and posted as Assistant Director (Audit), Large Taxpayers Unit, Karachi from the post of Assistant Director (Audit), Large Taxpayers Unit-II, Karachi.

    24. Muhammad Kashif Khan (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    25. Asif Nazir (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit-II, Karachi.

    26. Rabnawaz Ahmad Matiana (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue (BTB) Regional Tax Office II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    27. Danish Qamar (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    28. Tanvir Muhammad Niaz (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner (Prob) Inland Revenue Regional Tax Office, Islamabad from the post of Assistant Commissioner (Prob), Regional Tax Office, Rawalpindi.

    29. Syed M. Ghazanffar (Sales Tax Department/BS-16) has been transferred and posted as Senior Auditor, Large Taxpayers Unit-II, Karachi from the post of Senior Auditor, Large Taxpayers Unit, Karachi.

    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.

  • SBP directs banks to facilitate duty, taxes payment

    SBP directs banks to facilitate duty, taxes payment

    KARACHI: State Bank of Pakistan (SBP) on Thursday directed banks to facilitate payment of duty and taxes on Saturday, March 30, 2019.

    The central bank in a statement said in order to facilitate the collection of Government receipts/duties/taxes, NIFT will provide special clearing facility on the advice of SBP on Saturday, March 30, 2019 at 8:00 pm.

    All banks are, therefore, advised to keep their concerned branches open on March 30, 2019 (Saturday) till such time that is necessary to facilitate the special clearing for the government transactions.

  • No change in tax rates on cash withdrawal: FBR

    No change in tax rates on cash withdrawal: FBR

    ISLAMABAD: Federal Board of Revenue (FBR) has said that the government has not revised rates or limits of withholding tax on cash withdrawal from banks.

    In a statement on Thursday, the FBR said that the federal government has not revised rates or limits for tax on cash withdrawal from bank accounts under section 231A and on issuance of cash denominated bank instruments such as pay orders and demand drafts under section 231AA of Income Tax Ordinance 2001.

    The FBR spokesperson has strongly refuted such news appearing on some sections of media

    There has been no change in cash limits or tax rates in any of the two provisions of law.

    The only change which has been made through Finance 2nd Supplementary Act 2019 is taking out the tax filers from the scope of both these provisions.

    Now these withholding provisions are applicable only to non-filers, the spokesperson has further clarified.

    The spokesperson added that this huge concessionary step has been taken by the Government to encourage commercial activity through banking channels which needs to be appreciated.

  • FBR transfers customs officers of BS-18-19

    FBR transfers customs officers of BS-18-19

    ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday issued a notification regarding the transfers and postings of BS-18 and BS-19 officers of the Pakistan Customs Service (PCS).

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  • FBR facilitates return filing on weekly holidays

    FBR facilitates return filing on weekly holidays

    ISLAMABAD: Federal Board of Revenue (FBR) has made special arrangements for income tax return filing on the last two days of this month falling on Saturday and Sunday (March 30 & 31), which are also last two days for filing deadline.

    The FBR directed all Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) to remain open and observe extended working hours till 10:00pm on Saturday March 30 and till 12:00 mid-night on Sunday March 31 to facilitate the taxpayers in payment of duty and taxes.

    The FBR has extended the last date for filing income tax returns for tax year 2018 and March 31 is the last date for filing returns.

    The FBR’s facilitation has been aimed to provide maximum support to taxpayers in fulfilling their liabilities.

    The FBR directed chief commissioners to establish liaison with State Bank of Pakistan (SBP) and authorized branches of National Bank of Pakistan (NBP) to ensure transfer of tax collection by these branches to the respective branches of SBP on the same date so as to account for the same towards the collection for the month of March 2019.