Feb 2

Tarin launches automated currency declaration system

ISLAMABAD: Finance Minister Shaukat Tarin launched automated currency declaration system at Federal Board of Revenue (FBR) Headquarter here on Tuesday. Chairman FBR/Secretary Revenue Division Dr. Muhammad Ashfaq Ahmed, Chairman NADRA Tariq Malik and DG FIA Sanaullah Abbasi were present on the occasion. The minister said that the government was focusing on the documentation of economy […]

by Mrs. Anjum Shahnawaz

PTBA demands date extension for filing sales tax return

Feb 1

Taxation

PTBA demands date extension for filing sales tax return

ISLAMABAD: Pakistan Tax Bar Association (PTBA) on Tuesday demanded the tax authorities to extend the last date for filing sales tax return for the month of December 2021 because taxpayers have failed to make compliance due to technical issues on the IRIS portal. The PTBA in a letter to the chairman of Federal Board of […]

by Mrs. Anjum Shahnawaz

All shopkeepers to install POS machines: CTO Chief

Feb 1

Taxation, Top stories, Trade & Industry

All shopkeepers to install POS machines: CTO Chief

KARACHI: Dr. Aftab Imam, Chief Commission Inland Revenue, Corporate Tax Office (CTO) Karachi on Tuesday said that installation o Point of Sale (POS) machines to be extended to all types of shopkeepers. Although installation of Point of Sales (POS) machines is currently mandatory for bigger stores/ shops falling under Tier-1 retailers. “But eventually, every shopkeeper […]

by Faisal Shahnawaz

FBR posts 30% growth to collect Rs3.35 trillion

Jan 31

Taxation, Top stories

FBR posts 30% growth to collect Rs3.35 trillion

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs3.35 trillion during the first seven months (July – January) 2021/2022 with a growth of over 30 per cent, a statement said on Monday. The FBR issued provisional numbers of collection made during first seven months of the current fiscal year. The revenue body collected Rs2.571 […]

by Mrs. Anjum Shahnawaz

FBR notifies transfers of BS-17-19 customs officers

Jan 31

Pakistan Customs

FBR notifies transfers of BS-17-19 customs officers

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of officers of Pakistan Customs Service (PCS) in BS-17 to BS-19 with immediate effect until further orders. The FBR notified transfers and postings of following customs officers: READ MORE: FBR transfers BS-18 to BS-20 IRS officers 01. Fahad Ali Chaudhry (PCS/BS-19) has been […]

by Mrs. Anjum Shahnawaz

FBR implements new property valuations on February 01

Jan 30

Taxation, Top stories

FBR implements new property valuations on February 01

ISLAMABAD: The Federal Board of Revenue (FBR) will apply the new valuation tables for immovable properties in major cities of the country from February 01, 2022. The FBR on December 01, 2021 issued fresh and updated valuation tables for around 40 major cities of the country. However, the FBR deferred the implementation of the new […]

by Mrs. Anjum Shahnawaz

FBR invites income tax proposals for budget 2022/2023

Jan 28

Budget 2022-2023, Taxation

FBR invites income tax proposals for budget 2022/2023

The Federal Board of Revenue (FBR) has extended an invitation to stakeholders, including businesses, experts, and the general public, to contribute their insights and proposals for income tax improvements in preparation for the budget of 2022/2023.

by Mrs. Anjum Shahnawaz

Monitoring of GLT plants must to plug tax evasion

Jan 28

Taxation

Monitoring of GLT plants must to plug tax evasion

Experts believe that unchecked tobacco processing in green leaf threshing (GLT) plants is the root cause of massive tax evasion in tobacco sector. “At times when Pakistan is struggling to increase revenue, Government’s indifference towards tax evasion is incomprehensible,” according to an expert. Tobacco industry is one of the five industries which cause a loss […]

by Mrs. Anjum Shahnawaz

Regulatory duty on motor vehicles increased to 50%

Jan 28

Automotive, Taxation, Top stories

Regulatory duty on motor vehicles increased to 50%

In a bid to curb the escalating import bill and foreign exchange outflow, the Federal Board of Revenue (FBR) unveiled a significant surge in regulatory duty on the import of new motor vehicles.

by Mrs. Anjum Shahnawaz

Services tax on forex companies under provincial ambit

Jan 27

Taxation, Top stories

Services tax on forex companies under provincial ambit

Islamabad, January 21, 2024 – The Federal Board of Revenue (FBR) issued a clarification in response to recent news reports, asserting that the tax collection on services provided by foreign exchange companies falls under the jurisdiction of provinces.

by Mrs. Anjum Shahnawaz