The Federal Board of Revenue (FBR) has established a dedicated cell to oversee compliance with actions mandated by the Financial Action Task Force (FATF).
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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 issues withholding tax rates on registration of motor vehicles
ISLAMABAD: Federal Board of Revenue (FBR) has issued updated withholding tax rates on registration of new motor vehicles effective from July 01, 2019.
The FBR said that motor vehicle registration authorities are required to collect/deduct advance tax on private motor vehicles under Section 231B of Income Tax Ordinance, 2001 at the time of registration of new motor vehicles from persons getting new locally manufactured motor vehicles in their name.
Following are the withholding tax rates for registration of new motor vehicles under Section 231B(1):
Engine capacity Tax Rate Persons not appearing on ATL* Up to 850CC Rs7,500 Rs15,000 851CC to 1000CC Rs15,000 Rs30,000 1001CC to 1300CC Rs25,000 Rs50,000 1301CC to 1600CC Rs50,000 Rs100,000 1601CC to 1800CC Rs75,000 Rs150,000 1801CC to 2000CC Rs100,000 Rs200,000 2001CC to 2500CC Rs150,000 Rs300,000 2501CC to 3000CC Rs200,000 Rs400,000 Above 3000CC Rs250,000 Rs500,000 ** Persons not appearing in the Active Taxpayers List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule of the Income Tax Ordinance, 2001.
The FBR said that under Section 231B(1A) every leasing company, scheduled bank, investment bank, development finance institution, Modarba (Sharia Compliant or under conventional mode) shall collect four percent of the value of motor vehicles at the time of lease from persons not appearing in the ATL.
The FBR said that under Section 231B(2) the motor vehicle registration authority shall collect withholding tax from person transferring the ownership/registration at the time of transfer:
Engine capacity Tax Rate Persons not appearing on ATL* Up to 850CC Rs0 Rs0 851CC to 1000CC Rs5,000 Rs10,000 1001CC to 1300CC Rs7,500 Rs15,000 1301CC to 1600CC Rs12,500 Rs25,000 1601CC to 1800CC Rs18,750 Rs37,500 1801CC to 2000CC Rs25,000 Rs50,000 2001CC to 2500CC Rs37,500 Rs75,000 2501CC to 3000CC Rs50,000 Rs100,000 Above 3000CC Rs62,500 Rs125,000 ** Persons not appearing in the Active Taxpayers List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule of the Income Tax Ordinance, 2001.
The FBR said that under Section 231B(3) every manufacturer of motor vehicle shall collect withholding tax from purchaser at the time of sale of vehicle at the following tax rates:
Engine capacity Tax Rate Persons not appearing on ATL* Up to 850CC Rs7,500 Rs15,000 851CC to 1000CC Rs15,000 Rs30,000 1001CC to 1300CC Rs25,000 Rs50,000 1301CC to 1600CC Rs50,000 Rs100,000 1601CC to 1800CC Rs75,000 Rs150,000 1801CC to 2000CC Rs100,000 Rs200,000 2001CC to 2500CC Rs150,000 Rs300,000 2501CC to 3000CC Rs200,000 Rs400,000 Above 3000CC Rs250,000 Rs500,000 ** Persons not appearing in the Active Taxpayers List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule of the Income Tax Ordinance, 2001.
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FBR transfers 23 inspectors to speed up action against Benami assets
ISLAMABAD: Federal Board of Revenue (FBR) has transferred 23 inspectors of Inland Revenue to newly established Benami zones in three major cities in order to speed up action against Benami assets.
According to a notification issued on Thursday the FBR transferred and posted following inspectors of BS-16 with immediate effect until further orders:
01. Muhammad Jahangir has been transferred from LTU Islamabad to Benami Zone, Islamabad.
02. Muhammad Afzal Khan has been transferred from RTO Islamabad to Benami Zone, Islamabad.
03. Ms. Tahmina Bibi has been transferred from RTO Islamabad to Benami Zone, Islamabad.
04. Khawaja Muhammad Zaheer has been transferred from RTO Islamabad to Benami Zone, Islamabad.
05. Ms. Tabassum Baig has been transferred from RTO Islamabad to Benami Zone, Islamabad.
06. Osama Idrees has been transferred from RTO Rawalpindi to Benami Zone, Islamabad.
07. Ms. Sobia Idrees has been transferred from CRTO Lahore to Benami Zone, Lahore.
08. Syed Muhammad Zulqarnain Shah has been transferred from LTU Lahore to Benami Zone, Lahore.
09. Muhamamd Usman has been transferred from LTU Lahore to Benami Zone, Lahore.
10. Shahbaz Amir Ali has been transferred from RTO-II Lahore to Benami Zone, Lahore.
11. Muhammad Hamza has been transferred from RTO-II Lahore to Benami Zone, Lahore.
12. Ms. Mah-e-No Mirza has been transferred from RTO-II Lahore to Benami Zone, Lahore.
13. Muhammad Ahmad Asghar has been transferred from RTO-II Lahore to Benami Zone, Lahore.
14. Rana Muhammad Awais has been transferred from RTO-II Lahore to Benami Zone, Lahore.
15. Ms. Nazia Ghazal has been transferred from RTO-II Lahore to Benami Zone, Lahore.
16. Mehraj Ahamad has been transferred from CRTO Karachi to Benami Zone, Karachi.
17. Suhail Ahmad has been transferred from CRTO Karachi to Benami Zone, Karachi.
18. Kamran Taj has been transferred from RTO-II Karachi to Benami Zone, Karachi.
19. Muhammad Umair Shaikh has been transferred from RTO-II Karachi to Benami Zone, Karachi.
20. Dileep Kumar has been transferred from LTU Karachi to Benami Zone, Karachi.
21. Mansoor Farhad has been transferred from RTO-III Karachi to Benami Zone, Karachi.
22. Muhammad Ilyas has been transferred from CRTO Karachi to Benami Zone, Karachi.
23. Amit Kumar has been transferred from RTO-II Karachi to Benami Zone, Karachi.
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FBR issues rules for filing biannual withholding statement
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified amendments to Income Tax Rules, 2002 under which withholding agents are required to file withholding statements biannually instead monthly.
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Comparison of new and old FBR valuations of immovable properties in Karachi
ISLAMABAD: Federal Board of Revenue (FBR) has revised valuation of immovable properties for various cities of the country in order to boost revenue collection.
The FBR announced significant increase in valuation of immovable properties in Karachi. In order to calculate the changes in old and new valuation for the purpose of withholding tax rate following are the valuation tables:
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FBR decides to promote data entry operators
ISLAMABAD: Federal Board of Revenue (FBR) has decided to promote Data Entry Operators (DEOs) BS-12 to Management Information System (MIS) Officers BS-16 in the upcoming meeting of departmental promotion committee (DPC).
In this regard the FBR on Tuesday directed 1 to 150 DEOs in final seniority list to complete their PERs for the last five years up to June 30, 2019, which should be submitted to the FBR by July 31, 2019.
Besides, following information/documents should also be furnished in respect to the concerned DEOs, the FBR said in an office order addressing to heads of departments of Inland Revenue.
The FBR required following details from the heads of departments:
Certificate to the effect that no disciplinary / criminal case is pending against the official and that he is not the beneficiary of NRO 2007.
Details of disciplinary proceedings in progress/pending, if any.
Details of penalties imposed upon the official, if any, during last five years.
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FBR issues revised valuation of immovable properties for 20 cities
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued notifications for implementing enhanced valuation of immovable properties in 20 major cities.
The new valuations will be applicable from July 24, 2019.
Following are the new valuation for 20 cities:
(1) Abbottabad SRO 829(I)/2019
(2) Bahawalpur SRO 830(I)/2019
(3) Faisalabad SRO 831(I)/2019
(4) Gujranwala SRO 846(I)/2019
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FBR issues withholding tax rates for winning prize bonds
KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates for winning prize bonds, cross word, raffle, lottery and quiz for tax year 2019/2020 as effective from July 01, 2019.
The FBR said that every person making payment shall collect withholding tax from persons on active taxpayers list (ATL) and double the amount of the tax from persons not appearing on the ATL at the time the prize or winning were actually paid.
The collection of withholding tax under Section 156 of Income Tax Ordinance, 2001 shall be final.
The withholding tax shall be collected at the following rates:
(I) Payments made for prize on quiz bond and cross word the tax rate shall be 15 percent of the gross amount.
Persons not appearing in the Active Taxpayers’ List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule to the Ordinance), i.e. 30 percent of the gross amount.
(II) Payments on winning from a raffle, lottery, prize on winning a quiz, prize, offered by companies for promotion of sale crossword puzzles the tax rate shall be 20 percent of the gross amount.
Persons not appearing in the Active Taxpayers’ List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule to the Ordinance), i.e. 40 percent of the gross amount.
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FBR directs banks to provide details of Benami account holders in 15 days
ISLAMABAD: Federal Board of Revenue (FBR) has directed all the banks to provide details of Benami account holders within next 15 days.
FBR spokesman on Monday said that FBR chairman Shabbar Zaidi had sent communication to all the heads of banks asking them to provide details of Benami accounts.
The spokesman said that the FBR desired the banks should obtain details of Benami account holders themselves under Benami Act 2017. “The FBR does not want to make direct contact with account holders,” the spokesman said.
The chairman referred My 30, 2019 meeting with the heads of banks in which it was decided that the banks would arrange details of Banami bank accounts.
The chairman assured the banks that the details would be kept secret. The spokesman further said that the FBR had authorized to identify Benami holders under the Benami Act, 2017.
The chairman further desired that FBR and banks should work together to get optimum results. The chairman said that to identify the Benami bank account holders the banks cooperation was very important.
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Female consumers can present CNIC of husband, father for purchase above Rs50,000: FBR
ISLAMABAD, February 20, 2024 – The Federal Board of Revenue (FBR) has issued a clarification stating that female consumers can present the CNIC of their husband or father when making purchases above Rs50,000.
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