KARACHI: Commissioners of Inland Revenue have been empowered to make ‘best judgement assessment’ for taxpayers, who fail to file annual returns, for making payment of due taxes.
KARACHI: Passengers on arrival from abroad at any airport passing through green channel have been asked to cooperate with customs authorities for examination in case randomly or parametric selection.
KARACHI: A commissioner of Inland Revenue is required to send notice to taxpayers for incomplete annual income returns within 180 days from end of financial year in which return was filed.
ISLAMABAD: Advance Tax is not collected on arbitrary grounds, said Federal Board of Revenue (FBR) said on Friday.
KARACHI: The due date for filing annual income tax return has become important Since Federal Board of Revenue (FBR) imposed restriction of denying late filers into Active Taxpayers List (ATL).
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday directed customs officers, who were transferred on February, to join their place of posting immediately otherwise departmental action would be initiated against them.
ISLAMABAD: Income tax return filers are entitled to various tax reductions, rebates and credits while declaring their income for a tax year, according to a facilitation guide of Federal Board of Revenue (FBR).
KARACHI: A taxpayer is required to submit wealth statement along with annual income return. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 and explained the requirement of wealth statement under Section 116….
ISLAMABAD: The tax authorities have identified 152,201 Pakistani nationals with undeclared assets abroad, Mohammad Jehanzeb Khan, Chairman, Federal Board of Revenue (FBR) said on Wednesday.
ISLAMABAD: Federal Board of Revenue (FBR) has explained the inclusion into Active Taxpayers List (ATL) for availing reduced rates of withholding tax and other benefits.
KARACHI: There are certain classes of persons who are not required to file annual return of income to Federal Board of Revenue (FBR).
ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn additional customs duty on various imported raw materials.