FBR warns taking legal action against fabricated tobacco license news publication

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday said it has right to take legal action against fabricated news publication regarding grant of track and trace tobacco license. Read more »

FBR clears Rs15.6 billion sales tax refunds in 8,415 RPOs: Dr. Hafeez Shaikh

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday cleared Rs15.6 billion in sales tax refunds against 8,415 refund payment orders (RPOs), said Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance... Read more »

Pakistan’s tax-to-GDP ratio slips to 11.6 percent

ISLAMABAD: Pakistan’s tax-to-GDP ratio has slipped to 11.6 percent in fiscal year 2018/2019 as compared with 13 percent in the preceding fiscal year, revealed by date released by the ministry of finance. Read more »

Customs duty to apply on re-importation of goods manufactured in Pakistan

KARACHI: Federal Board of Revenue (FBR) has said that customs duty shall be applied on re-importation of goods that are manufactured and exported from Pakistan. Read more »

FED imposition may negatively affect local automobile assembling: SBP

KARACHI: The State Bank of Pakistan (SBP) has said that the imposition of federal excise duty (FED) may negatively affect local automobile industry as imported parts would become costlier. Read more »

MCC Preventive Peshawar announces auction of confiscated vehicles on Sept 11

ISLAMABAD: Model Customs Collectorate (MCC) Preventive Peshawar has announced auction of confiscated vehicles on September 11, 2019 at various state warehouses. Read more »

FBR to collect FED on steel products, rescinds sales tax notification

KARACHI: The government has decided to collect federal excise duty from steel products instead of sales tax. In this regard the Federal Board of Revenue (FBR) has issued 992(I)/2019 dated September 04,... Read more »

Salary tax slabs for filing returns tax year 2019

KARACHI: The salaried person shall follow the following slabs for filing income tax returns for tax year 2019 which is due on September 2019. Read more »

Benami property holder may get 7 years jail, pay 25pc as fine

ISLAMABAD: A person holding Benami property shall be liable to punishable offence with rigorous imprisonment up to seven years along with fine up to 25 percent of value of the property. According... Read more »

FBR issues finalized return forms for companies

ISLAMABAD: Federal Board of Revenue (FBR) has issued finalized return forms for companies. The FBR issued SRO 1000(I)/2019 to issue the final return form for tax year 2019. Read more »