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Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.

  • IR offices to observe extended working hours on Feb 28 for revenue collection

    IR offices to observe extended working hours on Feb 28 for revenue collection

    KARACHI: The offices of Inland Revenue will observe extended working hours on Friday, February 28, 2020 to facilitate taxpayers in payment of due taxes and filing of tax returns.

    The Federal Board of Revenue (FBR) in an office orders issued to Large Taxpayers Units (LTUs) Corporate Regional Tax Offices (CRTOs) and RTOs, directed to observe extended working hours till 10:00PM on Friday February 28, 2020 to facilitate the taxpayers in payment of duties and taxes and filing of Income Tax Returns / Statements.

    The chief commissioners have been directed to establish liaison with State Bank of Pakistan (SBP) and authorized branches of National Bank of Pakistan (NBP) to ensure transfer of tax collection by these branches on February 28, 2020 to the respective branches of SBP on the same date so as to account for the same towards the collection for the month of February 2020.

    The SBP also issued instructions that NBP branches as well as field offices of the SBP Banking Services Corporation, shall observe extended banking hours up to 8:00PM on February 28, 2020.

    The NBP branches will settle their transactions on same day i.e. February 28, 2020 with respective SBP BSC offices for which purpose a special clearing will be arranged at 5:00PM by the NIFT on February 28, 2020.

    The NBP shall settle their transactions with SBP BSC field offices/head office latest by 10:00PM on February 28, 2020.

    The SBP further said that in order to eliminate the issue of spillover receipts, NBP shall ensure that no instrument containing receipts of the government, shall unattended at any NBP branch and shall be settled in the value date of February 28, 2020 through special clearing.

  • FBR allows sales tax return filing up to February 28

    FBR allows sales tax return filing up to February 28

    ISLAMABAD: Federal Board of Revenue (FBR) has allowed taxpayers to file their monthly sales tax and federal excise returns up to February 28, 2020.

    The FBR on Thursday issued a notification for extension in date of submission of sales tax and federal excise return for the tax period of January 2020.

    The notification said that the FBR further extended the date of submission of sales tax and federal excise return up to February 28, 2020 for the tax period of January 2020, which was due on February 18 and was extended up to February 26, 2020.

  • FBR invites sales tax proposals to eliminate flying invoices, tax fraud

    FBR invites sales tax proposals to eliminate flying invoices, tax fraud

    The Federal Board of Revenue (FBR) has issued an invitation to business chambers and associations to submit their sales tax and federal excise proposals for the upcoming budget 2020/2021. The primary aim is to eliminate flying invoices and tax fraud while broadening the tax base and increasing revenue.

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  • FBR asks people to file income tax returns

    FBR asks people to file income tax returns

    ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday urged people having taxable income to file their income tax returns on or before February 28, 2020.

    The FBR said persons having annual income of Rs400,000 must submit their annual tax returns for tax year 2019.

    The tax body urged people to file annual income tax returns and play part to broaden tax net and become active taxpayer.

    It further said that salaried persons can also file their income tax returns through Tax Asaan application through mobile phones.

    Tax payment options have been provided through ATM, internet banking, credit card and direct debit from bank account.

  • Exporters doubt refund payment release on FBR collection failure

    Exporters doubt refund payment release on FBR collection failure

    KARACHI: Exporters expressed concerns that their liquidity may be taken away by the government in shape of sales tax worth billions of rupees as Federal Board of Revenue (FBR) has failed to achieve its revenue collection target.

    Mian Anjum Nisar, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that the exporters fear that their precious liquidity taken away by the government in shape of sales tax worth billions of rupees which is completely stuck up and refunds may be excessively delayed because the FBR has also failed to achieve its revenue collection target.

    FPCCI chief held a comprehensive detailed meeting with the leading export oriented sector at PHMA House, Karachi with Muhammad Jawed Bilwani, Chairman, Pakistan Apparel Forum and urged the Government to honour its commitment with the export sector.

    The President, FPCCI said that the exporters are in real fixed and under stress as Government is not implementing the decision it has taken to support export oriented sector.

    The Advisor to Prime Minister on Finance promised that the refunds will not get stuck up whereby he and his team have made a commitment that after passing of budget, his team will hold meetings with exporters and devise an automated system like in Bangladesh or China.

    Through the automated system, exporters will get a major amount from bank or the State Bank and would not be dependent on the FBR. Advisor Finance promised that if the new refund system will not work, the govt. will revisit its decision in 3-6 month period. Since more than 8 months have been passed and the FBR FASTER system has failed for speedy refunds, therefore, the Govt. should honour their commitment and restore zero rating – No Payment No Refund Regime for the export sectors.

    President FPCCI further told that the Govt. has failed to refund sales tax claims under FASTER System of textile exporters as per commitment, to refund claim amount in 72 hours, contrarily the Govt. has not paid exporters’ claims for the last seven months.

    Approx. Rs100 billion of textile exporters liquidity held up under FASTER Refund System in last 8 months and total Rs210 billion are withheld with the government.

    Payment timeline for payment of Customs Rebate claims which previously reduced to 7 months has again been prolonged to 13 months.

    However, Government also committed that Customs Rebate, DLTL claims will also be paid electronically along with export proceeds.

    Reportedly, hundreds of exporters SMEs have stopped their production owing to liquidity problems who have not received their sales tax refund claims for last seven months and due to high rates of utilities shall be compelled for closure if their sales tax refunds are not released on immediate basis and utility tariffs are not rationalized to facilitate them to get new orders and resume production.

    The President FPCCI emphasized to implement power tariff of 7.5 cents/kwh including all charges across Pakistan including Karachi and RLNG at 6.5 dollars/MMBTU.

    President also mentioned that while notification of said tariffs was issued the time period inadvertently was missing, it should be for three years period as agreed.

    He further informed that the OGRA has separated zero rated industry from general industry for Gas Tariff while NEPRA is still not implementing the decisions of separate treatment for zero rated and general industry.

    Mian Anjum Nisar President FPCCI said that the tariff for electricity and gas should be fixed on yearly basis for the Export Oriented Sectors and Priority be given only to these sector as the Export Sectors have to make commitments to their buyers for 6 months in advance and frequent increase in the electricity and gas tariffs jeopardizes their entire planning and they suffer huge losses to keep up commitments to their foreign buyers.

  • Taxpayers unable to file annual returns as FBR’s website goes offline

    Taxpayers unable to file annual returns as FBR’s website goes offline

    KARACHI: Taxpayers are not able to file their annual income tax returns for tax year 2019 as official portal of Federal Board of Revenue (FBR) is remained offline for past several hours on Wednesday.

    The taxpayers, who failed to avail past timelines for filing their income tax returns for tax year, were trying to open the FBR’s online e-filing portal since morning but they were unable to access the portal to discharge their liability.

    The FBR’s website was remaining offline till 4:50pm. FBR officials said that the website was offline for the past five to six hours.

    It is worth mentioning that the last date for filing income tax returns is February 28, 2020.

    The actual date for filing income tax for tax year 2019 was September 30, 2019 for salaried, business and Association of Persons (AOPs). For the companies the last date was December 31, 2019. However, the FBR extended the date for all taxpayers up to February 28, 2020.

    Sources in the FBR said that the tax machinery was trying to bring the website online as soon as possible. However, they were unable to explain the error.

    With the stoppage of the portal all the official work done online was also affected. Sources in local tax offices said that everything related to the portal was not responding.

    The sources said that the FBR may not extend the last date for filing income tax returns despite non-operation of the official portal of the FBR.

  • FBR official website not responding

    FBR official website not responding

    KARACHI: The official website of Federal Board of Revenue (FBR) is not available online for the past few hours creating problems for income tax return filers as the date is expiring after two days.

    The official website https://www.fbr.gov.pk/ is not available online for the past few hours as the site showing massages of runtime error or connection timed out. The website was remained offline till 2:00pm on Wednesday.

    It is important to note that the last date for filing income tax returns is February 28, 2020 for tax year 2020.

    The actual last date for filing of income tax returns was September 30, 2019. However, the FBR allowed multiple extension in dates and latest extension was granted up to February 28, 2020.

    Sources in the FBR, however, said that the problem was being resolved in order to provide facilitation to taxpayers.

  • FBR advised to enhance monitoring, enforcement for achieving annual targets

    FBR advised to enhance monitoring, enforcement for achieving annual targets

    ISLAMABAD: The ministry of finance has advised Federal Board of Revenue (FBR) to enhance monitoring and enforcement in order to achieve annual targets.

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  • Taxpayers can make payment in installments

    Taxpayers can make payment in installments

    KARACHI: Taxpayers have option to pay due liability in installments on explaining plausible reasons to the concerned Commissioner of Inland Revenue.

    Sources in Federal Board of Revenue (FBR) Monday said that the tax payable by a taxpayer on the taxable income of the taxpayer including the tax payable under section 113 or 113A of Income Tax Ordinance, 2001 for a tax year shall be due on the due date for furnishing the taxpayer’s return of income for that year.

    However, where any tax is payable under an assessment order or an amended assessment order or any other order issued by the commissioner under the Ordinance, a notice shall be served upon the taxpayer in the prescribed form specifying the amount payable and thereupon the sum so specified shall be paid within thirty days from the date of service of the notice:

    Provided that the due date for payment of tax payable under sub- section (7) of section 147 shall be the date specified in sub-section (5) or sub-section (5A) or first proviso to sub-section (5B) of section 147.

    “Upon written application by a taxpayer, the Commissioner may, where good cause is shown, grant the taxpayer an extension of time for payment of tax due under sub-section (2) or allow the taxpayer to pay such tax in instalments of equal or varying amounts as the Commissioner may determine having regard to the circumstances of the case.”

    Where a taxpayer is permitted to pay tax by instalments and the taxpayer defaults in payment of any instalments, the whole balance of the tax outstanding shall become immediately payable.

    The grant of an extension of time to pay tax due or the grant of permission to pay tax due by instalments shall not preclude the liability for default surcharge arising under section 205 from the due date of the tax under sub-section (2).

  • FBR withdraws 40% regulatory duty on sugar import

    FBR withdraws 40% regulatory duty on sugar import

    ISLAMABAD: The government has withdrawn 40 percent regulatory duty on import of sugar and sugar products.

    The FBR issued SRO 127(I)/2020 dated February 24, 2020 to withdraw the regulatory duty of 40 percent on import of commodities falling under Customs Harmonized Code Chapter of 17.01.

    The government imposed 40 percent regulatory duty on import of sugar through SRO 680(I)/2019.

    However, through the latest SRO 127(I)/2020 the regulatory duty has been withdrawn.

    It is worth mentioning that the recently the retail prices in the local markets surged abnormally. Some quarters had suggested the government to import the commodity to meeting the local demand and discourage hoarding.

    However, the Economic Coordination Committee in its latest meeting had rejected the proposal to import sugar as sufficient quantity was available in the country.

    Industry sources said that importers would able to import sugar from international market without levy of regulatory duty.