FBR transfers BS-18 to BS-20 IRS officers

Dec 25

Taxation

FBR transfers BS-18 to BS-20 IRS officers

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday announced transfers and postings of senior officers of Inland Revenue Service (IRS) in BS-18 to BS-20. The FBR notified transfers and postings of the following officers: 01. Abdul Hameed Shaikh (Inland Revenue Service/BS-20) has been transferred and posted as Chief, (Provincial Taxes) Inland Revenue Policy Federal […]

by Mrs. Anjum Shahnawaz

Digital tax monitoring yields Rs32.43bn from sugar sector

Dec 25

Taxation, Top stories

Digital tax monitoring yields Rs32.43bn from sugar sector

ISLAMABAD: The digital monitoring initiated by the Federal Board of Revenue (FBR) has resulted in a collection of Rs32.43 billion from the sugar sector during the first half of the current fiscal year. The FBR in a statement issued on Friday said that the implementation of the Track and Trace System (TTC) to monitor sugar […]

by Mrs. Anjum Shahnawaz

Real-time access to information and databases

Dec 24

Taxation

Real-time access to information and databases

Section 56AB of Sales Tax Act, 1990 has described real-time access to information and databases. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 56AB of the Sales Tax Act, 1990: 56AB. Real-time access to information and databases.—(1) Notwithstanding […]

by Hamza Shahnawaz

FBR conducts AML training for jewelers, lawyers

Dec 24

Taxation

FBR conducts AML training for jewelers, lawyers

ISLAMABAD: The Federal Board of Revenue (FBR) has organized a training session on Anti-Money Laundering (AML)/Counter Financing for Terrorism (CFT) for jewelers, accountants and lawyers. The revenue body conducted the training session in collaboration with United Nations Office on Drugs and Crime (UNODC). The session has been aimed at creating awareness among Designated Non-Financial Businesses […]

by Mrs. Anjum Shahnawaz

FBR exempts customs, regulatory duty on Afghan goods

Dec 24

Taxation, Top stories

FBR exempts customs, regulatory duty on Afghan goods

ISLAMABAD: The Federal Board of Revenue (FBR) allowed exemption from customs duty, additional customs duty, and regulatory duty on import of various goods from Afghanistan. The FBR on Thursday issued three different statutory regulatory orders (SROs) to allow exemptions on various products on import from Afghanistan. Through SRO 1609(I)/2021, the FBR exempted the import into […]

by Mrs. Anjum Shahnawaz

Agreement for the exchange of information

Dec 23

Taxation

Agreement for the exchange of information

Section 56A of Sales Tax Act, 1990 has defined agreement for the exchange of information or assistance in recovery of taxes. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 56A of the Sales Tax Act, 1990: 56A. Agreement […]

by Hamza Shahnawaz

Tarin directs FBR to ensure security of taxpayers’ data

Dec 23

Taxation

Tarin directs FBR to ensure security of taxpayers’ data

Shaukat Tarin, Adviser to the Prime Minister on Finance and Revenue has directed the Federal Board of Revenue (FBR) to ensure security of taxpayers’ data.

by Hamza Shahnawaz

Service of notices, orders under sales tax act

Dec 23

Taxation

Service of notices, orders under sales tax act

Section 56 of Sales Tax Act, 1990 has defined service of notices and orders under sales tax act. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 56 of the Sales Tax Act, 1990: 56. Service of orders; decisions […]

by Hamza Shahnawaz

FBR may issue instructions under Sales Tax Act

Dec 23

Taxation

FBR may issue instructions under Sales Tax Act

In a bid to streamline the implementation of the Sales Tax Act, 1990, the Federal Board of Revenue (FBR) has been granted the authority to issue instructions or directions under Section 55.

by Hamza Shahnawaz

Recovery of tax from estate of deceased person

Dec 23

Taxation

Recovery of tax from estate of deceased person

The Federal Board of Revenue (FBR) has provided clarity on the recovery of taxes from the estates of deceased persons and entities undergoing bankruptcy proceedings through the recent amendments to the Sales Tax Act, 1990.

by Hamza Shahnawaz