PM directs harsh action against tax evaders, corrupt tax officials
ISLAMABAD: Prime Minister Imran Khan on Tuesday directed tax authorities to take harsh action against tax evaders and corrupt elements within tax departments.
FBR
FBR invites income tax proposals for budget 2019-2020
KARACHI: Federal Board of Revenue (FBR) on Tuesday invited income tax proposals from business community for budget 2019-2020.
Income Tax Ordinance 2001: Commissioner’s power to make provisional assessment
KARACHI: The income tax law has empowered a commissioner Inland Revenue to make provisional assessment where a concealed asset of a person impounded by any government agency.
Procedure for import of motor vehicles into Pakistan
KARACHI: Pakistani nationals residing abroad including dual nationals can import old and used vehicles into Pakistan under three different schemes, according to a guide issued by Federal Board of Revenue (FBR).
Income Tax Ordinance 2001: Commissioners power to amend assessment of annual income return
KARACHI: A commissioner of Inland Revenue has been empowered to alter annual income tax return of a person on detection of tax evasion or avoidance.
Income Tax Ordinance 2001: Commissioner IR empowered to make assessment for non-compliant taxpayers
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.
Green channel passengers asked to cooperate with customs on examination selection
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.
Income Tax Ordinance 2001: Notice can not be issued after 180 days for incomplete return
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.
Advance Tax not collected on arbitrary grounds: FBR
ISLAMABAD: Advance Tax is not collected on arbitrary grounds, said Federal Board of Revenue (FBR) said on Friday.
Income Tax Ordinance 2001: Schedule for filing annual returns
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).
FBR directs customs officers to join new place of posting immediately
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.
Return filers entitled to many reductions, rebate and credits under tax law
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).