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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Two-year jail on deliberate non filing of return, statement
KARACHI: Federal Board of Revenue (FBR) is going to invoke certain provisions of tax laws, including prosecution for non-compliance to return and statement filing, under which about two years jails suggested for failing in return filing.
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FBR promotes 83 officers of IRS to BS-18
ISLAMABAD: Federal Board of Revenue (FBR) on Friday promoted 83 officers of Inland Revenue Service (IRS) to BS-18 from BS-17 with on regular basis immediate effect. The following officers have been promoted: 01. Sajjad Hussain 02. Ms. Ifra Tabassum 03. Khurram Fakhar Siddique 04. Ms. Zehra Farooq 05. Zeeshan Ali 06. Essam Anwar Khokhar 07.…
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FBR promotes 17 Customs officers to BS-18
ISLAMABAD: Federal Board of Revenue (FBR) on Friday promoted 17 officers of Pakistan Customs Service (PCS) from BS-17 to BS-18 with immediate effect. The following officers have been promoted with immediate effect: 1. Syed Itrat Hussain 2. Maryam Khalid 3. Saima Zaib Butt 4. Dr. Jam Muhammad Imran 5. Muhammad Wasif Malik 6. Amanat Khan…
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FBR needs Rs2.07 tn to achieve collection target
ISLAMABAD: Federal Board of Revenue (FBR) is required to collect over Rs2.07 trillion in next four months in order to meet revenue collection target of Rs4.398 trillion for current fiscal year.
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FBR issues ATL for Tax Year 2018, active taxpayers decline to 1.6 million
ISLAMABAD: Federal Board of Revenue (FBR) on Friday launched new Active Taxpayers List (ATL) for Tax Year 2018, which is showing around 1.6 million taxpayers filed their income tax returns by respective due dates. The FBR issues ATL for the latest tax year on every first day of March. In the latest ATL the number…
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Authorities to pay penalty for processing non-filers’ request
KARACHI: Provincial motor or immovable property registration authorities will liable to pay penalty around three percent of the value in case of processing registration request by non-filers of income tax return. According to updated Income Tax Ordinance, 2001 issued by the Federal Board of Revenue (FBR), the government imposed restriction on registration of motor vehicle…
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Income Tax Ordinance 2001: Late filers not to get names on ATL
KARACHI: Late filers of income tax returns will not get their name on the Active Taxpayers List (ATL) that will be issued tomorrow (March 01, 2019). The Federal Board of Revenue (FBR) will issue the latest edition of ATL, which will carry names of those taxpayers who filed their income tax returns by due date…
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FBR discontinues zero rating facility to two textile units
ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn sales tax zero rating to two textile units in Karachi for misusing facility on consumption of gas and electricity. According to Sales Tax General Order (STGO) issued on Wednesday, the FBR withdrew the facility of zero rating that was granted on consumption of electricity and gas to…
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Income Tax Ordinance 2001: No commercial, industrial gas or electricity connection without NTN
KARACHI: The National Tax Number (NTN) is mandatory for a person applying by commercial or industrial connection for electricity or natural gas. The Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 which explained about taxpayer’s registration.Section 181: Taxpayer’s registration.— Sub-Section (1): Every taxpayer shall apply in the prescribed form and in the prescribed…
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FBR fixes sales tax rate for cottonseed
ISLAMABAD: Federal Board of Revenue (FBR) has fixed Rs 8 as sales tax for 40 kilogram of cottonseed for the period starting from July 01, 2019. Similarly, Rs 7 sales tax for 40kg of cottonseed for the period of starting July 01, 2018 and ending on June 30, 2018 (both days inclusive). The FBR on…
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