ISLAMABAD: Around 2,574 outlets of 75 units of textile and leather sectors have started real-time information of their sales to Federal Board of Revenue (FBR), a statement said on Wednesday.
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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.
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FBR releases 24pc less refunds in seven months amid huge collection shortfall
ISLAMABAD: The issuance of refunds by Federal Board of Revenue (FBR) decline by 24 percent yet the net collection for the first seven months witnessed huge shortfall.
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Suppressed sales tax auditors and challenging revenue collection
KARACHI: Sales Tax / Value Added Tax (VAT) is the most significant source of tax collection in the world. Unlike direct tax it is known as tax on consumption and involves various ways and means to avoid/evade legitimate government revenue.
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Income Tax Ordinance 2001: Tax recovery due by non-resident member of AOP
KARACHI: The Federal Board of Revenue (FBR) has been granted expanded authority to recover outstanding taxes from resident Associations of Persons (AOP) in cases where a non-resident member of the AOP has pending tax liabilities. This development follows a significant amendment to Section 142 of the Income Tax Ordinance, 2001.
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Income Tax Ordinance 2001: Liquidators require to inform commissioner in 14 days of taking possession of assets
KARACHI: A liquidator is required to inform Commissioner of Inland Revenue in 14 days of taking possession of an asset. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 which explained liquidators under Section 141 for recovery of tax from taxpayers in default.
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FBR set to launch door-to-door survey to identify tax evaders
ISLAMABAD: Federal Board of Revenue (FBR) will launch a door-to-door survey for identifying potential tax evaders to broaden the tax base, a report issued by ministry of finance said.
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FBR reshuffles BS-19-20 Customs officers; notifies 44 transfers
ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of 44 officers of Pakistan Customs Service (PCS) in BS-19-20 with immediate effect until further orders.
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FBR notifies transfer, postings of BS-20-21 IRS officers
ISLAMABAD: Federal Board of Revenue (FBR) has notified transfer and postings of senior officers of Inland Revenue Service (IRS) of BS-20-21 with immediate effect and until further orders.
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FBR issues SROs to withdraw additional, customs duty on import of cotton
ISLAMABAD: Federal Board of Revenue (FBR) has exempted customs duty and additional customs duty on import of cotton for the period of February 01 to June 30, 2019.
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Income Tax Ordinance 2001: Recovery from persons holding money of taxpayer
KARACHI- The Federal Board of Revenue (FBR) in Pakistan has been granted enhanced powers under the recently updated Income Tax Ordinance, 2001, enabling it to recover taxes directly from individuals or entities holding money on behalf of a taxpayer.
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