Mar 20

UAE favorite hiding for Pakistan assets: Dr. Ashfaq

Dr. Muhammad Ashfaq Ahmed, who is currently Chairman of Federal Board of Revenue (FBR), in his one of research papers pointed out that the United Arab Emirates (UAE) is favorite destination for parking offshore undisclosed funds by Pakistanis. “The UAE with a tally of Rs346.2 billion turned out to be the favorite most destination with […]

by Anjum Shah

FBR to take action against amnesty declarants on failure to make payment

Jun 17

Taxation

FBR to take action against amnesty declarants on failure to make payment

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said that it will invoke provisions related to concealed assets in case amnesty declarants failed to pay due payment by June 30, 2020. In a reminder issued by the FBR stated that taxpayers Taxpayers who have filed declarations under the Assets Declaration Act 2019 as amended subsequently […]

by Anjum Shah

Tax amnesty scheme to be introduced in three phases, to continue by December 2019

Apr 25

Taxation

Tax amnesty scheme to be introduced in three phases, to continue by December 2019

ISLAMABAD: Federal Board of Revenue (FBR) has recommended three phases for new tax amnesty scheme for undeclared assets. The FBR recommended three phases for the amnesty scheme for period ended June 30, 2019, September 30, 2019 and December 31, 2019. The rate of tax for undeclared assets (other than domestic real estate/undisclosed income has been […]

by Faisal Shah

PM directs FBR, FIA to stop harassment in amnesty scheme cases

Jan 24

National

PM directs FBR, FIA to stop harassment in amnesty scheme cases

ISLAMABAD: Prime Minister Imran Khan has directed Federal Board of Revenue (FBR) and Federal Investigation Agency (FIA) to stop harassing businessmen who availed amnesty scheme and completed all codal formalities. An official communication issued by the FBR to all Chief Commissioners of Inland Revenue, stated that the office of the prime minister issued directives related […]

by Anjum Shah