Feb 5

President Alvi rejects FBR plea in maladministration cases

ISLAMABAD: The President of Pakistan, Dr. Arif Alvi has rejected the plea of the Federal Board of Revenue (FBR) in maladministration cases. President Arif Alvi while upholding the decisions of Federal Tax Ombudsman regarding maladministration of FBR officials in processing refund cases has directed the FBR to implement FTO ‘s recommendations. READ MORE: Dr. Alvi […]

by Mrs. Anjum Shahnawaz

FBR issues list of 1,358 retailers for mandatory POS

Feb 5

Taxation, Top stories

FBR issues list of 1,358 retailers for mandatory POS

ISLAMABAD: The Federal Board of Revenue (FBR) has notified a list of 1,358 retailers for mandatory installation of Point of Sale (POS) and integrate the same with the tax system. The FBR on Friday issued the list of 1,358 retailers by notifying Sales Tax General Order (STGO) No. 9 of 2022 dated February 04, 2022. […]

by Mrs. Anjum Shahnawaz

FBR invites Sales Tax proposals for budget 2022/2023

Feb 4

Budget 2022-2023, Taxation

FBR invites Sales Tax proposals for budget 2022/2023

In preparation for the upcoming fiscal year’s budget, the Federal Board of Revenue (FBR) has issued a call for sales tax and federal excise duty (FED) proposals.

by Mrs. Anjum Shahnawaz

POS retailers to get refunds automatically: Tariq Mustafa

Feb 3

Taxation, Trade & Industry

POS retailers to get refunds automatically: Tariq Mustafa

KARACHI: Tariq Mustafa Khan, Chief Commissioner Inland Revenue, Regional Tax Office (RTO) Karachi has said that retailers who installed Point of Sales (POS) will gain refunds automatically. “The retailers will also not subject to audit,” he said while speaking with office bearers of Karachi Chamber of Commerce and Industry (KCCI) on Thursday. “POS, which was […]

by Faisal Shahnawaz

FBR freezes accounts of top banker for tax recovery

Feb 3

Taxation, Top stories

FBR freezes accounts of top banker for tax recovery

The Federal Board of Revenue (FBR) has taken stringent action against a top banker by attaching three of his bank accounts for tax recovery.

by Faisal Shahnawaz

FBR postpones new property valuation till February 28

Feb 2

Taxation, Top stories

FBR postpones new property valuation till February 28

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday postponed the implementation of new and revised valuation of immovable properties till February 28, 2022. The FBR said that new and revised valuation tables of immovable properties issued on December 01, 2021 would remain in abeyance till February 28, 2022 and those valuation tables would be […]

by Mrs. Anjum Shahnawaz

FBR explains amendments to Customs Act 1969

Feb 2

Pakistan Customs, Taxation

FBR explains amendments to Customs Act 1969

ISLAMABAD: The Federal Board of Revenue (FBR) has issued explanation of amendments in the Customs Act, 1969 made through Finance (Supplementary) Act, 2022. The FBR issued Customs Circular No. 01 of 2022 to explain the changes. Power to determine the customs value: Under Section 25A of the Customs Act, 1969, both the Collector of Customs […]

by Mrs. Anjum Shahnawaz

Tarin launches automated currency declaration system

Feb 2

Taxation, Top stories

Tarin launches automated currency declaration system

ISLAMABAD: Finance Minister Shaukat Tarin launched automated currency declaration system at Federal Board of Revenue (FBR) Headquarter here on Tuesday. Chairman FBR/Secretary Revenue Division Dr. Muhammad Ashfaq Ahmed, Chairman NADRA Tariq Malik and DG FIA Sanaullah Abbasi were present on the occasion. The minister said that the government was focusing on the documentation of economy […]

by Mrs. Anjum Shahnawaz

PTBA demands date extension for filing sales tax return

Feb 1

Taxation

PTBA demands date extension for filing sales tax return

ISLAMABAD: Pakistan Tax Bar Association (PTBA) on Tuesday demanded the tax authorities to extend the last date for filing sales tax return for the month of December 2021 because taxpayers have failed to make compliance due to technical issues on the IRIS portal. The PTBA in a letter to the chairman of Federal Board of […]

by Mrs. Anjum Shahnawaz

All shopkeepers to install POS machines: CTO Chief

Feb 1

Taxation, Top stories, Trade & Industry

All shopkeepers to install POS machines: CTO Chief

KARACHI: Dr. Aftab Imam, Chief Commission Inland Revenue, Corporate Tax Office (CTO) Karachi on Tuesday said that installation o Point of Sale (POS) machines to be extended to all types of shopkeepers. Although installation of Point of Sales (POS) machines is currently mandatory for bigger stores/ shops falling under Tier-1 retailers. “But eventually, every shopkeeper […]

by Faisal Shahnawaz