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Tag: FBR chairman

  • FBR chairman replaced despite massive collection growth

    FBR chairman replaced despite massive collection growth

    ISLAMABAD: The new coalition government led by Prime Minister Shahbaz Sharif soon after taking oath replaced the chairman of Federal Board of Revenue (FBR) despite massive growth in revenue collection during the current fiscal year.

    The government appointed Asim Ahmed as the new chairman of the FBR replacing Dr. Muhammad Ashfaq Ahmed.

    READ MORE: FBR surpasses collection target for July – April FY22

    Ashfaq Ahmed was appointed by the former PTI government on August 24, 2021. However, Asim Ahmed has been given the charge of the apex tax agency on April 27, 2022.

    Various quarters are now raising questions about the change of top brass at the FBR at a time when only two months left to complete the fiscal year 2021/2022.

    The FBR posted a massive growth in revenue collection during the tenure of Dr. Ashfaq Ahmed. The press release issued by the FBR is self explainatory about the performance of ex-FBR chairman.

    READ MORE: LTO Karachi posts 41% collection growth in 10 months

    The FBR collected net revenue of Rs 4,858 billion during July, 2021-April, 2022 of current Financial Year 2021-22, which has exceeded the target of by Rs 239 billion. This represents a growth of about 28.6 per cent over the collection of Rs 3,778 billion during the same period, last year.

    The net collection for the month of April, 2022 realized Rs 480 billion representing an increase of 24.9 per cent over Rs 384 billion collected in April, 2021.

    On the other hand, the gross collections increased from Rs 3,981 billion during July, 2020-April, 2021 to Rs 5,122 billion in current Financial Year July, 2021- April, 2022, showing an increase of 28.7 per cent.

    READ MORE: FBR issues sales tax refund rules for tractor manufacturers

    Finance Minister Miftah Ismail acknowledged the growth saying that FBR collected Rs 5122 billion in current FY (Jul 21- Apr 22) up from Rs 3981 billion during Jul 20-April 21, registering 28.7 per cent growth. Refunds of Rs Rs264 billion disbursed during July 2021-April 2022 compared to Rs 203 billion paid last year, up by 30.1 per cent. “The FBR team deserves appreciation”.

    A big factor in the increase however was increased imports. For instance, sales tax at import stage grew by 58 per cent while it declined by 2 per cent for local goods. “With the right mix of policies and tools I am sure this team will perform even better and to the expectations of the nation,” the finance minister added.

    READ MORE: Tax officials warned of strict action for private consultancy

    Shaukat Tarin, the former finance minister of PTI government, responded to the current finance minister, saying: “Miftah Bhai, if FBR has done such a good job, you should not have changed its Chairman.”

  • Asim becomes 32nd FBR chairman

    Asim becomes 32nd FBR chairman

    ISLAMABAD: Asim Ahmad has assumed as the 32nd chairman of the Federal Board of Revenue (FBR) from April 27, 2022.

    It is second term of Asim Ahmad to serve the apex tax agency of Pakistan. Prior the present posting, he served as FBR chairman during April 09, 2021 to August 24, 2021. He is the 10th FBR chairman since June 30, 2017.

    Asim Ahmed replaced Dr. Muhammad Ashfaq Ahmed. Ashfaq served the FBR as chairman for eight months. He was chairman during August 24, 2021 to April 27, 2022. Dr. Ashfaq was 7th FBR chairman during PTI government.

    1)Mr. Asim Ahmad (Current Chairman)27.04.2022 .
    2)Dr. Muhammad Ashfaq Ahmed24.08.202127.04.2022
    3)Mr. Asim Ahmad09.04.202124.08.2021
    4)Mr. Muhammad Javed Ghani07.07.202009.04.2021
    5)Ms. Nausheen Javaid Amjad08.04.202006.07.2020
    6)Ms. Nausheen Javaid Amjad (Acting Chairperson)06.01.202008.04.2020
    7)Syed Muhammmad Shabbar Zaidi10.05.201906.01.2020
    8)Mr. Mohammad Jehanzeb Khan29.08.201810.05.2019
    9)Ms. Rukhsana Yasmin02.07.201829.08.2018
    10)Mr. Tariq Mahmood Pasha04.07.201702.07.2018
    11)Dr. Muhamad Irshad19.01.201730.06.2017
    12)Mr. Nisar Muhammad Khan17.11.201518.01.2017
    13)Mr. Tariq Bajwa02-07-201317.11.2015
    14)Mr.Ansar Javed 10-04-201330-06-2013
    15)Mr. Ali Arshad Hakeem10-07-201209-04-2013
    16)Mr. Mumtaz Haider Rizvi21.01.201210-07-2012
    17)Mr. Salman Siddique24.12.201021.01.2012
    18)Mr. Sohail Ahmad18.05.200918.03.2010
    19)Mr. Moinuddin Khan02.01.199806.11.1998
    20)Mr. Hafeezullah Ishaq11.11.199602.01.1998
    21)Mr. Shamim Ahmed28.08.199611.11.1996
    22)Mr. Alvi Abdul Rahim13.07.199528.08.1996
    23)Mr. Sajjad Hasan24.07.199103.10.1991
    24)Mr. Ahadullah Akmal16.08.199024.07.1991
    25)Mr. Ghulam Yazdani Khan22.01.198911.08.1990
    26)Syed Aitezazuddin Ahmed20.08.198802.01.1989
    27)Mr. I.A. Imtiazi11.08.198520.08.1988
    28)Mr. Fazlur Rahman Khan14.12.198011.08.1985
    29)Mr. N.M. Qureshi12.11.197514.12.1980
    30)Mr. M. Zulfiqar01.10.197412.11.1975
    31)Mr. Riaz Ahmad17.11.197330.09.1974
    32)Mr. M. Zulfiqar11.10.197117.11.1973
  • Tax slabs reduction may be considered: FBR chairman

    Tax slabs reduction may be considered: FBR chairman

    KARACHI: Dr. Muhammad Ashfaq Ahmed, chairman, Federal Board of Revenue (FBR) on Tuesday said reduction in income tax slabs may be considered.

    Addressing the business community at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that existing income tax slabs were implemented after due consideration.

    Earlier, the business community pointed out high number of tax slabs in the Income Tax Ordinance, 2001.

    READ MORE: Withholding tax should be on income: FBR Chairman

    Commenting on requirement of Computerized National Identity Card (CNIC) on transactions, he said this condition was introduced three years ago. The FBR has gathered bulk of information due to this condition. Further, many cases of using fake CNICs for making transactions were also reported, he added.

    The FBR chairman said that retailers had positively responded to integration of Point of Sales (POS) in Karachi. “Many issues will be resolved with improvement in supply chain,” he added.

    The business community raised the issues of audit notices. Dr. Ashfaq said that action would be taken if audit notices were not responded. “The audit notices should be responded with documentary evidence,” he said.

    READ MORE: UAE favorite hiding for Pakistan assets: Dr. Ashfaq

    About the tax laws, he said that foreign companies investment in Pakistan are unaware about our domestic laws, he said and assured that the FBR would facilitate both local and foreign investors to understand tax laws.

    Earlier, Anjum Nisar, Chairman, Businessmen Panel (BMP) said that delay in tax refunds create liquidity issues for industries. He said if taxpayers delays in compliance then he is subject to penalty and surcharges. Similarly, this should be apply to tax officials, he added.

    Irfan Iqbal Sheikh, President FPCCI, put forward the concerns and complaints of the business, industry and trade community of Pakistan to the Federal Board of Revenue during the detailed visit of its Chairman, Dr. Ashfaq Ahmed; along with the top brass of FBR.

    READ MORE: FBR explains cash discount under sales tax laws

    FPCCI President said that excessive and unsubstantiated tax notices; maladministration and corrupt elements; requirement of buyers’ CNIC copy; huge backlog of refund cases; double taxation; misuse of erstwhile FATA & PATA exemptions; higher rates of corporate, sales and withholding taxes; mandatory POS integration with FBR; multiplicity of income tax slabs and SRO culture are the major impediments in reforming the taxation system and broadening of the tax base.

    Irfan Iqbal Sheikh added that 29 percent corporate tax and 17 percent sales tax are too high for economic growth, industrialization and employment generation; and, rates of these taxes should be gradually and progressively brought down. He elaborated that no country of the world has ever progressed in the absence of industrialization; while commending the recently announced industrial growth package of the federal government.

    READ MORE: FBR amends fresh property valuations for Islamabad

    Engr. M.A. Jabbar, VP FPCCI, emphasized that we have to do away with the notice manufacturing practices of the taxation machinery as that prohibits the new taxpayers to register themselves into the system to avoid unnecessary regulatory interferences.

    Dr. Ashfaq Ahmed, Chairman FBR, expressed his willingness to have policy deliberations over FPCCI’s demand of reducing audit period to three years from the current six years. He also apprised the session that FBR has performed exceedingly well despite the debilitating economic conditions arising out of COVID-19 pandemic and have collected record taxes. He also expressed his optimism that FBR can soon achieve a Tax-to-GDP ratio of 12 per cent.

  • Withholding tax should be on income: FBR Chairman

    Withholding tax should be on income: FBR Chairman

    Karachi, March 14, 2022 – The Chairman of the Federal Board of Revenue (FBR), Dr. Muhammad Ashfaq Ahmed, emphasized the need for a shift in the approach to withholding tax (WHT), suggesting that it should be levied on income rather than transactions. He made these remarks during an address at the Karachi Chamber of Commerce and Industry (KCCI) on Monday.

    (more…)
  • UAE favorite hiding for Pakistan assets: Dr. Ashfaq

    UAE favorite hiding for Pakistan assets: Dr. Ashfaq

    Dr. Muhammad Ashfaq Ahmed, the Chairman of the Federal Board of Revenue (FBR), has drawn attention to the United Arab Emirates (UAE) as a preferred destination for parking offshore undisclosed funds by Pakistan nationals.

    (more…)
  • FBR eyes Rs6 trillion collection in current fiscal year

    FBR eyes Rs6 trillion collection in current fiscal year

    ISLAMABAD: Dr. Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR) on Wednesday hoped that the revenue collection for the current fiscal year will increase to Rs6 trillion – surpassing the target of Rs5.83 trillion.

    “Our revenue target is Rs 5.830 trillion which is expected to increase till Rs6 trillion by June 2022. We have collected Rs 300 billion more revenue than our target till December 31,” Dr. Ashfaq said.

    READ MORE: DG Customs Valuation powers strengthened

    He expressed his hope that this year, the FBR would achieve all its revenue targets and would further play its role in the country’s economy.

    The FBR chief hinted for achieving revenue target of Rs 8 trillion by 2023 as it would set the country’s economy in a new direction.

    He said that Prime Minister Imran Khan has his own vision for revenue collection and economic development in the country, in which, achieving revenue target of up to Rs 8 trillion is one of top priorities.

    READ MORE: Tax imposed to protect domestic entertainment industry

    Chairman expressed these views while talking to the journalists here.

    Replying to a question, he said that Pakistan Customs was the protector of economic borders of the country and that they have always been playing its role for trade promotion.

    He said that Pakistan Customs was playing its best role in enforcing trade laws at Chaman and Torkham borders.

    He said that transparent trade brought prosperity and development in the country.

    READ MORE: FBR slaps sales tax at 17% on supply of food stuff

    He vowed that, “we would digitalize every FBR’s agency”.

    He said that FBR currently has the largest data portal which is in a dire need of digitization.

    This data can be very important in the trade and economic development of the country.

    He said that at present, the role of FBR was very important in all three trade corridors including Chaman and Torkham, which would be strengthened with China Pakistan Economic Corridor (CPEC).

    READ MORE; FBR enhances tax rates on motor vehicle registration

  • FBR announces cash reward to IREN officials for raids

    FBR announces cash reward to IREN officials for raids

    KARACHI: Dr. Muhammad Ashfaq Ahmed, Chairman of the Federal Board of Revenue (FBR), has announced cash reward for officials of Inland Revenue Enforcement Network (IREN) for conducting successful raids against illegal sugar bags.

    A statement issued on Saturday said that the Chairman had appreciated the performance of IREN squads and announced a cash reward for those officers, who conducted successful raids. He stated that the Track & Trace system coupled with IREN’s valiant drive would help overcome the menace of non-tax paid goods in the market.

    It is pertinent to mention that the Prime Minister of Pakistan has recently launched a Track & Trace System on the Sugar Sector. Therefore, IREN has also been entrusted to ensure its enforcement in the entire supply chain of the Sugar Industry.

    For this purpose, the Chief Coordinator IREN and his Regional Enforcement Squads across Pakistan are geared to conduct raids and ensure seizures on the non-tax paid sugar stocks, which move out of the factory premises/warehouses without tax stamps.

     As a result, IREN Squads have intensified their operations in every nook and corner of the country, against the non-compliant supply chain operators dealing in the sugar sector in order to maximize revenue potential.

    The Squads have raided various sugar dealers in almost all big cities and various small towns to check sugar stocks. During these raids Hyderabad Squad has seized stock of 172 sugar bags without affixing of Tax Stamps in the premises of M/s Gulzar & Co. The stock of 172 sugar bags was seized and legal action was being initiated against those who were found involved in the tax evasion.

    Building on its momentum to maximize tax compliance, FBR IREN squads, has seized 8,320,000 illegal cigarettes worth Rs. 21,479,625 involving duties and taxes of Rs. 17,242,635 in the month of November, 2021. Likewise, in the first five months of FY- 2021-22, IREN has seized non duty / tax paid cigarettes of Rs. 177,959,737 (approximately 74,131,500 sticks) resulting in detection of evasion of duties and taxes worth Rs. 142,905,265.

    FBR chairman urges taxpayers to file annual return timely
  • FBR chairman urges taxpayers to file annual return timely

    FBR chairman urges taxpayers to file annual return timely

    ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR), has advised taxpayers to file annual income tax returns timely.

    In the newsletter for July – August, the chairman said that timely uploading of Income Tax Form this year is appreciable activity and must continue in future as well. The taxpayers’ would optimistically, take benefit of it this year and would file their returns timely.

    The FBR has uploaded the Income Tax Return Forms for Tax Year-2021. Separate Return Forms for Salaried, Association of Persons and Business Individuals have been uploaded.

    The Income Tax Returns can be filed through web portal and Tax Asaan application.

    The taxpayers are provided guidance on filling all the required particulars in the form. The Income Tax Returns can be filed online through smart phones by installing the Tax Aasaan application from Google play store. In this regard, a media campaign would also be launched for awareness and education purposes.

    The taxpayers can file their Income Tax Returns till September 30, 2021.

    The FBR chairman said that the revenue body starts the fiscal year with laurels of 23 per cent growth by collecting Rs850 billion during July and August 2021.

    This historical growth coupled with reforms, enforcement and compliance strategy would further take the revenues to the optimum level. There is no doubt that governments’

    policies for economic growth and revival are bearing fruit. For broad spectrum national economic growth, curbing tax evasion and broadening the base by establishing linkages with the provincial governments, is imperative.

    That is why, provincial governments have been offered proactive and technical collaboration especially in the agriculture sector, as many declare their agriculture income in federal ITRs.

    The launching of, Single Identifier Number for all domestic taxes which is linked with the CNIC, and Alternate Delivery Channel (ADC) by which any federal tax or duty may be paid without physical visit of the bank shows the enduring commitment of FBR for ‘ease of doing businesses’.

    It is heartening to note that scheme for new Export Facilitation Scheme 2021 has been approved by the Government and adopted by the parliament vide the Finance Act 2021.

    The issuance of rules would impact certainly in reducing the cost and create the ease of doing business and improve compliance.

    Be it the international cooperation for exchange of technical experiences or creating friendly environment with the business communities, FBR has always welcomed all stakeholders including the business chambers as vital players.

    No extension in return filing date for Tax Year 2021
  • Track, trace system to roll out from November 01: FBR

    Track, trace system to roll out from November 01: FBR

    ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR) on Thursday said that track and trace system will be rolled out from November 01, 2021.

    According to a statement, FBR Chairman Dr. Muhammad Ashfaq Ahmed appreciated the performance of Inland Revenue Enforcement Network (IREN) staff.

    The chairman said that from November 1, 2021, Track and Trace System would be rolled out to cover tobacco manufacturing across the country, and that the AJK Government had approached the Federal Board of Revenue to extend the scope of Track & Track System to cigarette manufacturing units located inside AJK territory.

    It is expected that over the next few months’ implementation of Track & Trace System and its extension into AJK, coupled with IREN’s valiant drive would help overcome the menace of counterfeit, illicit and non-tax paid cigarettes in the market.

    IREN Squads of FBR, in a counter-evasion operation, has seized non duty / tax paid cigarettes (approximately 14,798,000 sticks) worth Rs. 30,741,100, resulting in detection of evasion of taxes and duties of Rs. 26,184,100 in the month of August, 2021.

    Likewise, during the period from July to August, 2021, IREN had seized 26,030,500 illegal cigarettes worth Rs. 48,537,140. As such evasion of taxes and duties worth of Rs. 44,786,258 was detected. This action is in pursuance to directions of the honorable Prime Minister of Pakistan against illicit sale of non-duty/tax-paid and counterfeit cigarettes.

    IREN was established in September 2019 with a Chief Coordinator, Central Field Coordinator, and seven regional enforcement hubs all across Pakistan, tasked to conduct raids and seizures on the counterfeit and non-duty paid cigarettes.

    As a part of ongoing crackdown against illicit cigarette trade country-wide, all IREN hubs intensified their operation against businesses dealing in non-duty paid and counterfeit cigarettes to save the national exchequer from revenue loss.

    Tax payment on export of IT services
  • FBR offers help to provinces in broadening agri tax base

    FBR offers help to provinces in broadening agri tax base

    ISLAMABAD: The Federal Board of Revenue (FBR) has offered assistance to the provinces in broadening the tax base in agriculture sector. Under the Constitution of Pakistan, the provinces have mandate to collect tax on agriculture income.

    (more…)