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Tag: Federal Board of Revenue

The Federal Board of Revenue is Pakistan’s apex tax agency, overseeing tax collection and policies. Pakistan Revenue is committed to providing timely updates on the Federal Board of Revenue to its readers.

  • IR offices to open on Saturdays to meet collection target

    IR offices to open on Saturdays to meet collection target

    ISLAMABAD: The Federal Board of Revenue (FBR) has decided to open the offices of Inland Revenue on all Saturdays during the month of June in order to achieve revenue collection target for fiscal year 2020/2021.

    In an official note circulated to all Chief Commissioners Inland Revenue of Large Tax Offices (LTOs), Medium Tax Offices (MTOs), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs), the FBR said that all field formations will remain open and observe normal working hours on Saturdays from June 05, 2021 till June 30, 2021.

    The decision has been taken to enhance the efforts to meet the revenue collection targets for the last few weeks of current financial year 2020/2021, it added.

    The chief commissioners Inland Revenue have been directed to ensure that COVID-19 preventive SOPs should be strictly followed.

    The revenue collection of the FBR is provisional at Rs4,167 billion during first eleven months of the current fiscal year. The revenue body needs another Rs533 billion in the month of June 2021 to achieve the revised downward collection target of Rs4,700 billion.

  • Inland Revenue speeds up action against illicit cigarettes

    Inland Revenue speeds up action against illicit cigarettes

    ISLAMABAD: The Inland Revenue Enforcement Network (IREN) of the Federal Board of Revenue (FBR) has accelerated action against non-duty paid / illicit cigarettes, a statement said on Saturday.

    IREN’s Directorate of Intelligent and Investigation (I&I) -IR Faisalabad Unit conducted a raid at Samanabad and discovered 201 cartons (2,000,000 cigarettes) of non-duty paid cigarettes.

    The confiscated cigarettes of various local brands such as Gold Mark, Cricket, Grace etc. have been moved to the warehouse of the Directorate.

    Similarly, the IREN Unit of Directorate of I& I-IR Karachi, intercepted the vehicle and found 119 Cartons (990920 sticks) of Non-duty paid cigarettes.

    The same have been detained on account of non-production of valid documents. The value of federal excise duty and sales tax of confiscated cigarettes is around 6 million. Further investigation is underway.

    A team of Directorate of I&I (IR), Hyderabad visited Godown of a Transport Company at Tando Mohammad Khan and found 121 Cartons (1210000 sticks) of different brands of cigarettes stocked in the godown.

    The person present there failed to produce any documentary evidence regarding payment of applicable duties and taxes in respect of these Cartons. Hence the stock of 121 cartons involving duty and taxes of Rs. 2.634 million has been detained for further investigation.

  • FBR projects Rs5,700bn tax collection for next fiscal year; IMF says ‘do more’

    FBR projects Rs5,700bn tax collection for next fiscal year; IMF says ‘do more’

    ISLAMABAD: The Federal Board of Revenue (FBR) has estimated Rs5,700 billion as a net revenue collection for the next fiscal year 2021/2022, around Rs263 billion less then projection of International Monetary Fund (IMF).

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  • FBR issues cadre strength of IRS, Pakistan Customs

    FBR issues cadre strength of IRS, Pakistan Customs

    ISLAMABAD: The Federal Board of Revenue (FBR) has updated the cadre strength of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) after creation of 41 additional posts by the finance division.

    According to the updated cadre strength, the FBR has seven BS-22 officers; five in IRS and remaining two in the PCS.

    In BS-21, the FBR said, there are 52 officers of IRS are serving and 26 in the PCS.

    The FBR said that it has 254 officers in BS-20, which included 180 in the IRS and 74 others in the PCS.

    Around 261 officers of IRS and 145 officers of PCS are in the BS-19. Likewise, 389 IRS officers and 162 officers of PCS are serving in BS-18.

    The FBR has strength of 388 officers of IRS and 113 officers of PCS in BS-17.

    The IRS has 1275 officers in BS-17 to BS-22. Meanwhile, the PCS has 522 officers in BS-17 to BS-22.

  • FBR directs officials to avoid initiating audit on assumptions

    FBR directs officials to avoid initiating audit on assumptions

    ISLAMABAD: The Federal Board of Revenue (FBR) has directed the officials of Inland Revenue (IR) to avoid opening audit cases merely on surmises and assumptions, sources said on Wednesday.

    The FBR issued instructions to all chief commissioners of tax offices regarding proceedings under section 122(5) of Income Tax Ordinance, 2001.

    The FBR said that it had received representations suggesting that the field offices were recklessly issuing notices under section 122(5) read with section 122(9) of Income Tax Ordinance, 2001 where purportedly the threshold of ‘definite information’ as defined under section 122(8) was not met.

    “It goes without saying that amendment proceedings under section 122(5) of the Ordinance, merely on basis of audit suspicion picked from within the declarations lodged by the taxpayers themselves, is an enforcement travesty and need to abate,” the FBR said.

    The scheme of law warrants that a taxpayer must be dealt with precisely as per principle of justice and fair play, it added.

    The FBR directed the field formation to adhere with law and due diligence must be ensured in respect of each taxpayer and no case should be opened merely on surmises and assumptions. “All taxpayers must be provided adequate opportunity of being heard, too,” the FBR added.

  • Duty free import of Land Cruiser vehicles allowed

    Duty free import of Land Cruiser vehicles allowed

    ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday allowed exemption of federal excise duty (FED) on import of Land Cruiser vehicles for the purpose of locust control.

    The FBR issued SRO 591(I)/2021 to exempt whole of FED payable on the import of ten soft skin land cruiser 79 series pick-up 4.2 L-3 vehicles having PCT Code 9901 by the Food and Agriculture Organization of the United Nations (FAO) to be used by the department of plant protection for locust control operations.

  • FBR exempts income tax on import of oxygen generators

    FBR exempts income tax on import of oxygen generators

    ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday exempted withholding income tax on import of oxygen generators and oxygen gas in order to ensure sufficient supply of products for treatment of coronavirus pandemic.

    The FBR issued SRO 589(I)/2021 to make amendment in the Second Schedule of the Income Tax Ordinance, 2001.

    The FBR said that the provisions of Section 148 of Income Tax Ordinance, 2001 shall not apply on import of following goods (PCT Code) for a period of 180 days starting from May 14, 2021, namely:

    01. Oxygen (2804.4000)

    02. Oxygen Cylinders (7311.0090)

    03. Cryogenic  – Tanks/Vessles (7311.0030)

    04. Oxygen concentrators / generators/ manufacturing plants of all specifications and capacities (respective headings).

    A day earlier, the FBR also exempted customs duty on import of oxygen gas, cylinders and oxygen manufacturing plants.

  • FBR announces panel of advocates for customs service

    FBR announces panel of advocates for customs service

    ISLAMABAD: The Federal Board of Revenue (FBR) on Monday announced panel of advocates, who will represent the tax authorities in cases relating to matters of Pakistan Customs Service (PCS).

    The panel of advocates has been appointed for a period of three years.

    Pakistan Customs (North)

    1. Arslal Amjad Hashmi North

    2. Malik Nasir Abbas

    3. Saleh Zada

    4. Ms. Syeda Mirbaz

    5. Barrister Dr. Waseem Qureshi

    6. Ms. Shamin Choudhry

    7. Javaid Alchtar

    8. Ms. Momina Khayal

    9. M. Irshad Chaudhry

    10. Dilnawaz A. Cheema

    Pakistan Customs (Central)

    1. Omar Arshad Hakeem

    2 Barrister Qadir Buksh

    3 Barrister Hans Azmat

    4. Tahir Zia Mahar

    5. Syed Hamid Raza Bokhari

    6. Amir Farooq

    7. Muhammad Asif Butt

    8. Saif ullah Khan

    9. Ms. Firoza Gohar

    10. Fawad Ahmad Cheema

    11. Habib Rehman

    12. Muhammad Shabaz Sharif

    13. Khurram Virk

    14. Mustafa Haroon

    15. Sheikh Muhammad Ali

    16. Ms. Shagufta Arif

    17. Rai Amer Ijaz Kharal

    18. Ch. Muhammad Shahid Iqbal

    19. Faisal Akbar

    20. Mesum Mehdi

    21. Muhammad Saleem

    22. Muhammad Hafeez

    23. Usman Afi Virk

    24. Waqar Ahmad Sheikh

    25. Khawar Nawaz Bharwana

    26. Hasnan Maqsood

    27. Ahmad Wasim

    28. Amir Ali

    29. Muhammad Ahmad Mehboob

    Pakistan Customs (South)

    1. Rana SalchawatAli

    2. Irfan Mir Halepota

    3. Imran Ahmed Maitlo

    The FBR said that advocates may be assigned Court cases for pleading before various Courts /

    Tribunals at relevant stations on the basis of merit, keeping in view their experience and facts of the each case.

    Matter relating to professional fee/ special professional fee, appointment, performance evaluation, de-notification, conduct of the Panel Advocates and other related matters will be governed by the SOPs/ policy guidelines circulated vide FBR’s letter C.No.8 (70)s(P.A)/2020/176432-R dated 12.10.2020 and any other notification issued or to be issued from time to time.

  • FBR allows duty free import of oxygen manufacturing plants

    FBR allows duty free import of oxygen manufacturing plants

    The Federal Board of Revenue (FBR) in Pakistan announced on Monday the grant of duty exemption on the import of critical oxygen-related goods.

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  • IR intelligence unearths Rs4.27bn sales tax fraud

    IR intelligence unearths Rs4.27bn sales tax fraud

    ISLAMABAD: The Directorate General of Intelligence and Investigation (Inland Revenue) has unearthed a sales tax fraud to the tune of Rs4.27 billion by M/s. Innovative Biscuits (Pvt).

    A statement issued by the Federal Board of Revenue (FBR) on Monday said that the Directorate of Intelligence & Investigation (IR), Lahore on receipt of credible information related to sales tax fraud carried out action under Section 38 read with Section 40 of the Sales Tax Act, 1990 against M/s. Innovative Biscuits (Pvt.) Limited, Lahore.

    Assessment order was issued wherein an amount of Rs. 4.27 billion as sales tax along with default surcharge and 100 percent penalty for tax fraud was imposed upon the registered person

    Accordingly, accused Sheikh Munir Hussain, one of the Directors of M/s. Innovative Biscuits (Pvt.) Limited was arrested. Due to proper presentation of case by Directorate of Intelligence & Investigation (IR), Lahore, two bail applications filed by the accused were rejected by Special Judge, the FBR said.

    Subsequently, the accused filed another application for bail before Lahore High Court. The Lahore High Court, Rawalpindi Bench, Rawalpindi granted post arrest bail to the petitioner on deposit of an amount of Rs 300 million and submission of post dated cheque of Rs. 100 million. The legal process is underway against the accused.

    Directorate General of Intelligence & Investigation-IR has performed commendably well in the current Financial Year from July-2020 to April 2021.

    The Directorate General has forwarded 653 Investigation Reports involving revenue of Rs. 197.714 billion to the field formations. The Directorate General conducted 40 raids where estimated revenue amounting to Rs. 761 million is involved. Directorate General filed 67 complaints under Anti-Money Laundering Act, 2010 against 75 accused persons involving Rs. 55.385 million. Directorate General also seized 6667 cartons of illegal cigarettes.