KARACHI: The last date for filing income tax return for tax year 2021 is September 30, 2021. The FBR has decided not to extend the last date beyond the cutoff date.
The FBR opened the IRIS portal on July 01, 2021 to start the income tax return filing for tax year 2021. As per law taxpayers should be given at least three months from launch of income tax return forms for the year. The FBR issued the income tax return forms on July 01, 2021, therefore this year the last date will match the date as prescribed in the lat.
The taxpayers including salaried persons, business individuals, association of persons and corporate entities whose financial year ends between July 01 to December 31 are required to file their annual return for tax year 2021 by September 30, 2012.
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KARACHI: The users of Zong, the leading mobile phone operator in Pakistan, are enjoying free calls and internet services on Wednesday and still continued till filing this news article.
Zong has become top trend on Twitter and people messaging about availing free calls and internet services.
According to some tweets the system of Zong has been crashed which enabled the free services.
One message is reported as: “Zong network has some technical issues so the users can use free internet, call anyone for free national or international until their service gets on track. So enjoy the free time till then.”
The reporting team of Pkrevenue has checked free internet and free calls on a zero balance Zong SIM and found the services are available.
No official comments is available from Zong management in this regard.
ISLAMABAD: Federal Board of Revenue (FBR) has issued updated rates of duty and tax for customs clearance of imported vehicle.
The Federal Government of Pakistan has extended various benefits / exemptions to the taxpayers for importing vehicles, according to updated rates up to June 30, 2020.
The details concessions / exemptions are given as under:-
i. S.R.O. 577(I)/2005 Dated 06.06.2005 (Exemption from customs duty, sales tax, withholding tax on import of certain specified Old and used automotive vehicles)
The import of old and used automotive vehicles of Asian makes meant for transport of persons, specified in column (2) of the Table below, falling under PCT heading No. 87.03 of the First Schedule to the Customs Act, 1969 (IV of 1969), is exempted from so much of the customs-duty, sales tax and withholding tax as are in excess of the cumulative amount specified in column (3) thereof,
Sr. No
Automotive vehicles of Asian makes meant for transport of persons.
Duty and taxes in US$ or equivalent amount in Pak rupees.
(1)
(2)
(3)
1
Up to 800cc
US$4800
2
Up to 801-1000cc
US$6000
3
From 1001 – 1300cc
US$13200
4
From 1301 – 1500cc
US$18590
5
From 1501 – 1600cc
US$22550
6
From 1601 – 1800cc (Excluding Jeeps)
US$27940
It is relevant to mention that the Federal Government has fixed the leviable duty and taxes of automotive vehicles of Asian makes meant for transport of persons as discussed above irrespective of their physical condition. The Customs officers do not have any discretionary power to increase / decrease the leviable duties / taxes, the FBR said.
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KARACHI: Pakistan Customs has issued updated taxpayers’ facilitation guide for import of vehicles under various schemes.
Vehicles classifiable under HS Chapter 87 are importable under various schemes. The law of land caters for import of both new and used vehicles under stipulations of Import Policy.
1). Import of New Vehicles:
New vehicles are importable into Pakistan freely by any one against payment of leviable duties & taxes under existing import procedures and requirements laid down in Import Policy Order and Customs law.
2). Import of vehicles under Personal Baggage, Transfer of residence and
Gift Schemes:
The used vehicles are not importable into Pakistan in normal course of import procedure. The law, however, provides an exception in this regard and used vehicles can be imported by overseas Pakistanis under the following three schemes in terms of Appendix-E of Import Policy Order 2016:
– Personal Baggage
– Gift Scheme
– Transfer of Residence
The terms and conditions applicable for the import of vehicles under the above mentioned three schemes are tabled below:
Import eligibility
• Importable only by Pakistani national as defined in the Import Policy Order i.e. “citizen of Pakistan residing abroad and includes a person having dual nationality, and a foreign national of indo-Pakistan origin holding Pakistani origin card”. The said distinction of ‘citizen’ does not cover minors i.e under eighteen years of age.
• The vehicle can be imported once in two years (700 days calculated from the date on which Goods Declaration was filed for the last import under the Import Policy Order).
Type of vehicle which can be imported
Transfer of Residence Scheme
Passenger car, bus, van, trucks, pick-ups including 4×4 vehicles, agriculture tractors, bulldozers, laser land levelers, combined harvesters and motorcycles or scooter.
Gift Scheme
Passenger car, bus, van, trucks, pick-ups including 4×4 vehicles, agriculture tractors, bulldozers, laser land levelers and combined harvesters
Personal Baggage Scheme
Passenger car, bus, van, trucks, pick-ups including 4×4 vehicles, agriculture tractors, bulldozers, laser land levelers and combined harvesters.
Age of vehicles which can be imported
Cars not more than three years old (since year of manufacturing) and other Vehicles not more than five years old (since year of manufacturing).
Required period of stay of Passenger out-side Pakistan
Transfer of Residence Scheme
A minimum of 700 days stay out-side Pakistan during the past three years
Gift Scheme
A minimum of 700 days stay out-side Pakistan during the past three years
Personal Baggage Scheme
A minimum of 180 days stay out-side Pakistan during the last seven months preceding the date of application
Donee (To whom the vehicle can be gifted)
Gift Scheme
A family member normally resident in Pakistan. “Family” means parents, sister, brother, husband, wife and children whether married or not, but excluding children under eighteen years of age.
Documents required
Transfer of Residence Scheme
• Goods Declaration
• Export Certificate
• Purchase receipt of the vehicle
• Bill of lading dated not later than 120 days from date of arrival in Pakistan of the applicant
• Attested photo copy of passport or Pakistan Origin Card (Original will be required at the time of clearance)
Gift Scheme
• Goods Declaration
• Export Certificate
• Purchase receipt of the vehicle
• Bill of lading showing name and address of the consignee
• Attested photo copy of the passport or Pakistan origin card
• CNIC of the done
Personal Baggage Scheme
• Goods Declaration
• Export Certificate
• Purchase receipt of the vehicle
• Bill of lading, dated not later than 120 days from the date of arrival in Pakistan of the applicant
• Attested photo copy of the passport or Pakistan Origin Card (Original will be required at the time of clearance)
Condition of payment of duty and taxes out of foreign remittances as per SRO 52(I)/2019 dated 15.01.2019 issued by Ministry of Commerce and Textile, Islamabad
All vehicles in new/used condition to be imported under transfer of residence, personal baggage or under gift scheme, the duty and taxes shall be paid out of foreign exchange arranged by Pakistan nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittance to local currency, as under;
a) the remittance for payment of duties and taxes shall originate from the account of Pakistani national sending the vehicle from abroad: and
b) the remittance shall either be received in the account of Pakistani national sending the vehicle from abroad or, in case, his account is nonexistent or inoperative, in the account of his Family.”
