Section 33(10) of Sales Tax Act, 1990 stated that taxpayers in failure to provide information are required to pay penalty.
ISLAMABAD: An officer of the Inland Revenue Service (IRS) has been awarded a major penalty of ‘dismissal from service’ after the officer was found guilty of corruption and misconduct. The Federal Board of Revenue (FBR) on a complaint of a taxpayer initiated an inquiry against Syed Zubair Shah, a BS-19 officer of IRS. M/s. Pak […]
ISLAMABAD: The Federal Board of Revenue (FBR) – Pakistan’s apex revenue collecting agency – has collected over Rs2.31 trillion during the first five months (July – November) of the fiscal year 2021/2022. According to provisional statistics released by the FBR on Tuesday, the net revenue collection is at Rs2.314 trillion during the first five months, […]
ISLAMABAD: Shaukat Tarin, Adviser to the Prime Minister on Finance and Revenue, on Monday asked the Federal Board of Revenue (FBR) to redouble its efforts for broadening the tax base. The adviser expressed his full support and confidence to the FBR team and advised to redouble their efforts and launch the taxpayer outreach initiative at […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday imposed a condition under the Anti-Money Laundering Act, 2010 on transfers and registration of immovable properties. The FBR DNFBPs Order No. 1 of 2021 impose the condition. The FBR said that the Anti-Money Laundering Act, 2010 empowered the revenue board to license or register its reporting […]
Section 33(9) of the Sales Tax Act, 1990, stipulates that individuals who obstruct officials of Inland Revenue in accessing records may face penalties ranging from Rs5,000 to Rs50,000.
The Sales Tax Act, 1990, empowers authorities to impose penalties on individuals or businesses failing to maintain records as required under Section 22 and Section 24 of the Act.
A person is liable to imprisonment where he is required to get registered for sales tax under Section 14 of the Sales Tax Act, 1990, but he makes supplies without making an application for the registration. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The […]
The Federal Board of Revenue (FBR) has reinforced its commitment to maintaining the integrity of the tax system by imposing penalties on individuals who repeatedly make erroneous calculations in their sales tax returns.
A special judge may award imprisonment up to three years to a person who defaulted sales tax payment despite an opportunity from the tax authorities to pay the amount under Section 3, Section 6, Section 7 and Section 48 of the Sales Tax Act, 1990.