Feb 16

FBR makes rules for sealing retail outlets

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday notified rules for sealing and de-sealing business premises of Tier-1 retailers. In this regard the FBR issued SRO 252/2022 to make amendments in Sales Tax Rules, 2006. Through the amendments, a new chapter has been introduced namely, ‘Procedure for Sealing and De-sealing of Business Premises of […]

by Mrs. Anjum Shahnawaz

FBR announces prize winners in second POS invoice balloting

Feb 15

Taxation

FBR announces prize winners in second POS invoice balloting

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday announced winners of second balloting of invoices issued by Point of Sales (POS) installed by Tier-1 retailers. Muhammad Aslam has been declared as winner of bumper prize worth Rs1 million in the second draw. The invoice declared for the bumper prize was issued by Tier-1 retailer […]

by Mrs. Anjum Shahnawaz

Glitches mar filing of national sales tax return

Feb 15

Taxation

Glitches mar filing of national sales tax return

LAHORE: The Federal Board of Revenue (FBR) has failed to rectify errors in national sales tax form as large number of taxpayers unable discharge their liabilities. Pakistan Tax Bar Association (PTBA) in a letter to the chairman of Federal Board of Revenue (FBR) highlighted the issues in the national sales tax return and demanded to […]

by Faisal Shahnawaz

Tax offices fail to meet target of integrating retailers

Feb 13

Taxation, Top stories

Tax offices fail to meet target of integrating retailers

ISLAMABAD: The Federal Board of Revenue (FBR) has expressed annoyance over the lack of interest shown by field offices in integrating Point of Sale (POS) of Tier-1 retailers with the online tax system. According to an official document related to Tier-1 Retailers POS Integration – Third Quarter Targets (January 2022), the analyses revealed except for […]

by Mrs. Anjum Shahnawaz

Feb 13

Pakistan Customs, Taxation, Top stories

FBR launches forensic audit of WeBOC

ISLAMABAD: The Federal Board of Revenue (FBR) has launched forensic audit of Web Based One Customs (WeBOC) to determine the accuracy and correct application of duty and taxes. In order to conduct forensic audit, the FBR invited firms for the assignment to conduct audit of the internal controls of WeBOC system for quality assurance for […]

by Mrs. Anjum Shahnawaz

No promotion of IRS officers without asset declaration

Feb 11

Taxation

No promotion of IRS officers without asset declaration

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday issued last warning to BS-18 officers of Inland Revenue Service (IRS), who are in promotion zone, and said without asset declaration and performance evaluation reports (PERs) their names will not be considered for promotion. The FBR previously issued letter to the officers in the seniority list […]

by Mrs. Anjum Shahnawaz

FBR notifies transfer, posting of BS-19 IRS officers

Feb 10

Taxation

FBR notifies transfer, posting of BS-19 IRS officers

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday announced transfers and postings of BS-19 officers of Inland Revenue Service (IRS) with immediate effect and until further orders. The FBR notified transfers of following officers: 01. Ashfaq Masood (Inland Revenue Service/BS-19) has been transferred and posted as Secretary, PR Federal Board of Revenue (Hq), Islamabad […]

by Mrs. Anjum Shahnawaz

FBR announces sharp cut in sales tax on POL products

Feb 10

Energy, National, Taxation

FBR announces sharp cut in sales tax on POL products

ISLAMABAD: The Federal Board of Revenue (FBR) has announced sharp cut in sales tax on supply of petroleum products. The FBR on Thursday issued SRO 183(I)/2022 to reduce the sales tax against normal rate of 17 per cent. The revenue body previously issued SRO 88(I)/2022 dated January 18, 2022 to change the sales tax rates. […]

by Mrs. Anjum Shahnawaz

FBR seeks practitioners help for tax broadening

Feb 9

Taxation

FBR seeks practitioners help for tax broadening

ISLAMABAD: The Federal Board of Revenue (FBR) has sought assistance from tax practitioners for broadening of tax base. In this regard a Memorandum of Understanding (MoU) was signed between the FBR and Pakistan Tax Bar on February 07, 2022 at FBR HQ Islamabad. READ MORE: FBR asked to redouble efforts for broadening tax base The […]

by Mrs. Anjum Shahnawaz

IR offices to work on Saturdays for revenue target

Feb 9

Taxation, Top stories

IR offices to work on Saturdays for revenue target

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday said that all the offices of Inland Revenue (IR) will work on Saturdays to meet the revenue collection target. The FBR in an official memo said that in order to enhance the efforts to meet the revenue target for the current financial year 2021/2022, all field […]

by Mrs. Anjum Shahnawaz