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Tag: FBR

FBR, Pakistan’s national tax collecting agency, plays a crucial role in the country’s economy. Pakistan Revenue is committed to providing readers with the latest updates and developments regarding FBR activities.

  • FBR seeks exemption for its officials during coronavirus lockdown

    FBR seeks exemption for its officials during coronavirus lockdown

    ISLAMABAD: Federal Board of Revenue (FBR) on Monday sought exemption for its officials during lockdown to prevent spread of coronavirus pandemic.

    In a circular the FBR said that in view of the COVID-19 pandemic, the federal and provincial governments had introduced various measures to contain the spread of the virus, which included lockdowns across the country.

    The FBR said that the personnel of essential services and few other agencies had been exempted from these lockdowns.

    FBR, in this last quarter of the financial year, through its multiple field formations (Inland Revenue/Customs) across the country is making all out efforts to consolidate and ensure maximum revenue collection, the FBR said.

    Needless to say, money/funds are urgently required by the federal and provincial governments to wage this war against the coronavirus pandemic.

    The revenue body said in these circumstances, it is imperative that all field offices of FBR, engaged in revenue collection remain open and are fully operational.

    However, due to the lockdowns enforced through the country, the officers and staff are unable to reach their offices and perform their duties.

    This has therefore, critically effected the operational preparedness of this organization and is also adversely affecting the revenue collection.

    The FBR asked all relevant federal and provincial agencies to exempt from lockdown the officers/staff of FBR who are in possession of permission letters from their respective chief commissioner-IR / Chief Collector Customs/Heads of Operational offices to reach their offices in order to perform their duties.

  • FBR extends time limit to 25 days for GD filing

    FBR extends time limit to 25 days for GD filing

    KARACHI: Federal Board of Revenue (FBR) on Monday extended time limit for filing goods declaration to facilitate traders and importers, who were facing difficulties due to lockdown.

    The FBR extended the time limit for filing of goods declaration from the existing 10 days of arrival of goods to further 15 days (total 25 days) for all Import General Manifest (IGMs) filed between March 17, 2020 and April 07, 2020.

    The FBR said that the customs collectorates across the country were operating normally, however, on account of the ongoing lockdown by provincial governments to address the prevailing pandemic of COVID-19, the importers and clearing agents were facing hardship in filing of goods declaration within the time limit prescribed under Customs Act, 1969.

    The consequent penalty on this account is causing undue hardship to the traders as the circumstances for late filing, which was beyond their control.

    The FBR said that it had received requests from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry (KCCI) for extension in the time limit for filing of goods declaration.

  • FBR urged to defer CNIC condition for six months

    FBR urged to defer CNIC condition for six months

    KARACHI: Business community has urged Federal Board of Revenue (FBR) to defer CNIC condition on purchases above Rs50,000 for at least six months.

    In a statement Saquib Fayyaz Magoon, Convener of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) standing committee on Sales Tax and Chairman Indenters Association of Pakistan (IAOP), urged Government to pay attention on economic crises due to lockdown for prevention of coronavirus pandemic and has demanded Prime Minister to defer CNIC Condition for 6 months on sale of goods to unregistered persons in view of the current economic crisis.

    Magoon Said due to situation caused by the coronavirus, all payments to exporters have been stopped and export orders canceled while the economic activities have also stopped. While there has been a severe crisis of cash flow in the market, therefore, by defer the condition of the CNIC will improve the cash flow situation, otherwise there will be another major financial crisis.

    He also requested the government to accept sales tax returns without CNIC and said that in the current economic crisis, now we will depend largely on the local consumer industry, who are already in crisis due to the CNIC condition.

    Prime Ministers adviser on commerce Abdul Razzaq Dawood in which he assured that cash flow would not be affected by the Coronavirus.

    So if he wants the cash flow not affected then CNIC Condition must defer for minimum six months so that business activities can be restored as usual.

    Magoon pointed to the difficulties facing the businessman community over the ban on courier companies due to the lockdown, said the original document of import shipment could not be reached in the banks.

    So as long as the lockdown is in place, the State Bank should issue clear instructions to the banks that the EIF be approved on the copy of the document to ensure uninterrupted clearance of imported goods. Because the original documents are required for EIF approval.

    Due to not being provided original documents is causing constraints and importers are not able to file a GD which is causing consignment storage and shed charges.

    Saquib Fayyaz Magoon appealed the Prime Minister Imran Khan that in view of the serious situation caused by the coronavirus, a directive should be issued to the State Bank that the EIF be approved on the copy of the document at the time of payment by the importers to the banks.

  • Date for sales tax payment may not to be extended

    Date for sales tax payment may not to be extended

    ISLAMABAD: Federal Board of Revenue (FBR) has said it will not extend the date for sales tax payment beyond March 31, 2020.

    The FBR spokesman said that the date was extended for duty and tax payment in order to facilitate taxpayers amid outbreak of coronavirus and subsequent lockdown.

    Through a notification on March 18 the FBR extended the last date for submission of sales tax and federal excise return for the tax period of February 2020.

    The FBR extended the date of submission of sales tax and federal excise return up to March 25 for the tax period of February 2020, which was due on March 18, 2020.

    The FBR on March 24 issued another circular to further extend the date for submission of sales tax and federal excise returns along with annexures for the tax period of January 2020 and February 2020.

    The FBR allowed extension return filing date for January 202 up to April 15, 2020. This return was due on February 18, 2020 and was extended up to February 28, 2020.

    For the month of February 2020, the date for payment of sales tax and federal excise duty has been extended up to March 03, 2020 which was due on March 15, 2020.

    The submission of sales tax and federal excise return has been further extended up to April 15, 2020, which was due on March 18, 2020 and it was extended up to March 25, 2020.

  • FBR may extend date for Tier-1 retailers POS integration

    FBR may extend date for Tier-1 retailers POS integration

    ISLAMABAD: Federal Board of Revenue (FBR) is likely to extend the last date for big retailers to integrate their point of sales (POSs) with the online system of the tax system owing to ongoing lockdown to prevent spread of coronavirus, sources said on Wednesday.

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  • FBR advises duty, tax payment through alternate delivery channels

    FBR advises duty, tax payment through alternate delivery channels

    KARACHI: Federal Board of Revenue (FBR) has advised taxpayers to pay duty and taxes through alternate delivery channels (ADC) during restricted movement in the wake of coronavirus pandemic.

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  • FBR extends date for filing sales tax returns up to April 15

    FBR extends date for filing sales tax returns up to April 15

    ISLAMABAD: In response to the ongoing lockdowns across various regions of the country to curb the spread of COVID-19, the Federal Board of Revenue (FBR) has announced an extension for the filing of monthly sales tax returns. This decision aims to alleviate the burden on taxpayers facing difficulties due to the pandemic-induced restrictions.

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  • FBR allows exemption on import of 61 medical, testing equipment to fight against coronavirus

    FBR allows exemption on import of 61 medical, testing equipment to fight against coronavirus

    ISLAMABAD: Federal Board of Revenue (FBR) has allowed exemption from duty and taxes on import of medical and testing equipment regarding outbreak of coronavirus.

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  • FBR withdraws sugar valuation for sales tax collection

    FBR withdraws sugar valuation for sales tax collection

    KARACHI: Federal Board of Revenue (FBR) has withdrawn valuation of sugar for the purpose of sales tax collection in order to ensure clearance at prevalent international rates.

    The FBR issued SRO 233(I)/2020 dated March 18, 2020 to amend SRO 812(I)/2016 dated September 02, 2016.

    The FBR had fixed valuation at $725 per metric ton through previous notification. However, the prices of the commodity witnessed sharp decline in international market over the time.

    Presently, the international sugar prices is being traded at $334.30 per metric tons. The prices fell by 21 percent during March 20, 2020 in international trade.

  • FBR extends date for filing sales tax returns

    FBR extends date for filing sales tax returns

    ISLAMABAD – The Federal Board of Revenue (FBR) has announced an extension in the deadline for filing sales tax and federal excise return for the month of February 2020.

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