Tag: FBR
Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.
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Advance tax on sales to distributors, dealers and wholesalers
KARACHI: Federal Board of Revenue (FBR) has made manufacturers responsible for collecting advance tax on sales to distributors, dealers and wholesalers. The tax has been imposed under Section 236G of Income Tax Ordinance, 2001. Section 236G: Advance tax on sales to distributors, dealers and wholesalers Sub-Section (1): Every manufacturer or commercial importer of electronics, sugar,…
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FBR extends last date for submitting customs proposals for budget 2019/2020
ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for submitting customs related budget proposals for 2019/2020. In a notification to all chambers and association, the FBR said that the board issued a letter on January 25, 2019 for submitting customs proposals for budget 2019/2020. The proposals would cover three areas i.e. changes…
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Advance tax on electronic media, cable operators
KARACHI: Electronic media and cable operators are required to pay adjustable advance tax at the time of obtaining new license or renewal of license. According to updated Income Tax Ordinance, 2001 issued by the Federal Board of Revenue (FBR), Pakistan Electronic Media Regulatory Authority (PEMRA) shall collect the advance tax at the time of issuance…
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Asad Umar reviews revenue collection, broadening of tax base
KARACHI: Finance Minister Asad Umar on Monday reviewed the revenue collection progress and ongoing drive of broadening of tax base at a meeting with senior officials of Federal Board of Revenue (FBR).The meeting was attended by Member Inland Revenue Operations Ms. Seema Shakil, Member Customs Operations Agha Jawad, Chief Commissioners Inland Revenue and Chief Collectors…
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FBR adds over 114,000 return filers to ATL
ISLAMABAD: Federal Board of Revenue (FBR) has added over 114,000 return filers to Active Taxpayers List (ATL) following the grant of extension in filing income tax returns for Tax Year 2018 up to March 31, 2019. The FBR issued weekly updated ATL 2018 on Monday, which showed the number of active taxpayers increased to 1.75…
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FBR to improve capacity for action against tax evaders
KARACHI: Federal Board of Revenue (FBR) is increasing its capacity to handle large size data of tax evaders, FBR chairman said in a meeting with members of Karachi Chambers of Commerce and Industry (KCCI).
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FBR not to conduct raids: FPCCI
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday said that the tax authorities have assured of not to conduct raids and harass taxpayers. Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Dr. Mirza Ikhtair Baig Sr. Vice President FPCCI, Vice Presidents FPCCI, Mr.…
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Income Tax Ordinance 2001: amended advance tax rates on marriages, functions
KARACHI: Federal Board of Revenue (FBR) has updated advance tax rates on marriages and functions through latest amendment to Income Tax Ordinance, 2001.The national assembly recently approved Finance Supplementary (Second Amendment) Act, 2019 and advance tax rate for functions and gathering has been updated.The advance tax is collected under following section of the Ordinance.Section 236D:…
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Filing annual return: large number to benefit from date extension
KARACHI: A large number of taxpayers may file their annual income tax returns while taking advantage of date extension up to March 31, 2019, tax manager said. The Federal Board of Revenue (FBR) recently extended the last date for filing income tax return for tax year 2018 up to March 31, 2018, which was December…
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