ISLAMABAD: Around 200,000 income tax return filers paid surcharge to get their names in Active Taxpayers List (ATL) during past 15 days.
(more…)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.
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FBR issues preventive measures for stage-III coronavirus
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued preventive measures for stage-III coronavirus pandemic.
The FBR directed all the officers of the headquarters and field formations (BS-17 to BS-21) to restrict the working strength of their offices to only one clerical / ministerial staff and one Naib Qasid on weekly/fortnightly rotation basis with effect from March 16, 2021.
The FBR further said that employees having symptoms of COVID-19 must immediately get themselves tested for the same and in case tested positive, they must immediately quarantine / isolate themselves at homes for fourteen (14) days. “During this period, their entry to concerned offices shall be banned.”
COVID-19 positive employees shall get themselves tested at the end of fourteen (14) days quarantine/isolation period and only in case of negative results, shall resume their official duties.
In order to avoid physical contact with door handles and to keep the rooms/offices properly ventilated and well-lit, it is also advised that all offices doors/windows be kept open.
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FBR appoints panel of advocates for Karachi tax offices
KARACHI: Federal Board of Revenue (FBR) on Tuesday appointed a panel of advocates to present the tax offices in Karachi before various legal forums.
The FBR placed following advocates, on the panel of the FBR, relating to court matters of Inland Revenue Service for a period of three years:
01. Ali Tahir
02. Iftikhar Hussain Qureshi
03. Ayaz Sarwar Jamali
04. Sardar Zafar Hussain
05. Munawar Ali Memon
06. Chaudhary Mehmood Anwar
07. Ijazuddin Qureshi
08. Irfan Mir Halipota
09. Saif Ali Akbar
10. Muhammad Taseer Khan
11. Iqbal Hussain
12. Qasim Ali
13. Ghulam Murtaza Korai
14. Rana Sakhawat Ali
15. Mansoor ul Haq Solangi
16. Syed Muhammad Salman Ali
17. Naureen Iqbal
18. Syed Zaeem Hyder Musavi
19. Fayyaz Ali Metlo
20. Masood Rasool Babar
21. Farhan Ali Shah
22. Ms. Abida Perveen Channar
23. Akhtar Hussain Sheikh
24. Zafar Imam
25. Imtiaz Ali Solangi
The FBR said that the advocates may be assigned court cases for pleading before various courts/tribunals at Karachi Station, on the basis of merit, keeping in view their experience and facts of the each case.
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Tax collection from new car manufacturing grows by 28pc
The collection of withholding income tax from the sales of new cars by manufacturers in Pakistan has seen a notable uptick, marking a 28 percent increase during the first eight months of the fiscal year 2020/2021.
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Sales tax record must be retained for six years
ISLAMABAD – In a bid to enhance transparency and compliance, the Federal Board of Revenue (FBR) has stipulated that registered businesses must retain their sales tax records for a period of six years for audit and examination purposes.
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FBR constitutes committees for integration of Tier-I retailers
ISLAMABAD: Federal Board of Revenue (FBR) has constituted central committee and regional committees to oversee the integration of Tier-I retailers with the FBR system.
The FBR said that in pursuance of the Memorandum of Understanding (MOU) signed between the FBR and the Chainstore Association of Pakistan (CAP) on October 28, 2020, a central committee and regional committees have been constituted to oversee the process of integration of Tier-I Retailers.
The central committee would look into issues related to input tax issues, HS Code issues, customer incentivization, software problems etc.
Similarly, the Regional Committees would be responsible for identification Tier-I and Tier-II retailers in their respective areas and to liaise with the chief commissioners concerned besides resolving sectoral as well as individual issues of retailers.
Following Central and Regional Committees have been constituted comprising of FBR and CAP’s representatives:
Central Committee:
FBR Representatives:
i. Director General Retail
ii. Chief (IR- Analysis)
iii. Second Secretary Retail
CAP’s Representatives:
i. Tariq Mehboob
ii. Irfan Iqbal Sheikh
iii. Asfandyar Farrukh
iv. Mardan Ali Zaidi
v. Mohammad Shamsuddin
vi. Mustafa Bashir
vii. Raheel Meghani
viii. Sheikh Owais Mehmood
ix. Addel Rauf
x. Tanveer Niaz
xi. Ch. Asim Ghous
xii. Mohammad Imran Saleemi
Karachi Region Committee
FBR Representatives:
i. Chief Commissioner Inland Revenue, MTO Karachi
ii. Focal Person, POS integration, MTO Karachi.
CAP’s Representatives:
i. Asfandyar Farrukh
ii. Junaid Dandia
iii. Salman Saeed
iv. Raheel Meghani
v. Mustufa Bashir
vi. Rafiq Chamdia
Lahore Region Committee
FBR Representatives:
i. Chief Commissioner Inland Revenue RTO, Lahore
ii. Focal Person, POS integration, RTO Lahore
CAP’s Representatives:
i. Tariq Mehmood
ii. Wasif Butt
iii. Mohammad Imran Saleemi
iv. Mardan Ali Zaidi
v. Asim Javed
vi. Omar Saeed
Islamabad Region Committee
FBR Representatives:
i. Chief Commissioner Inland Revenue RTO, Islamabad
ii. Focal Person, POS integration, RTO Islamabad
CAP’s Representatives:
i. Shaikh Owais Mehmood
ii. Asim A Majeed
iii. Ahszan Zafar Bakhtawari
iv. Shamsuddin Sultan Ali
v. Addel Rauf
vi. Ch. Tahir
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No sale to be allowed without tax stamp: FBR
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that no product would be allowed to be removed from a production site without affixation of tax stamps with effect from July 01, 2021.
The tax stamps to be obtained/procured from and applied by FBR’s Licensee M/s. AJCL/MITAS/Authentix Consortium.
The FBR said that after awarding license of the Track and Trace system to the successful bidder, FBR has issued four Sales Tax General Orders for Four specified Sectors. These sectors include Tobacco, Sugar, Cement and Fertiliser.
These Sales Tax General Orders are being issued under the provisions of Section 40C(2) of the Sales Tax Act, 1990 read with Rule 150ZF of the Sales Tax Rules, 2006.
These laws mandate FBR to notify the date for the implementation of Electronic Monitoring of productions and sales of goods in the manner prescribed in the law on all manufacturing sites.
FBR has directed All manufacturers of specified Products to make necessary arrangements for importation of applicators and other equipment required for successful installation and implementation of Track and Trace System at their production facilities.
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FBR criticized for restricting servicing of tax notices through electronic means
KARACHI: Karachi Tax Bar Association (KTBA) has criticized the tax authorities for restricting the service of tax notices to electronic means.
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100 percent income tax credit proposed for IT sector: FBR
Federal Board of Revenue (FBR) announced on Wednesday a proposal to expand the range of tax concessions for income derived from the export of software, IT services, and IT-enabled services.
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FBR processes first batch of automated income tax refund payment
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday processed first batch of income tax refund payment through automated system.
Member IR (Operations) inaugurated Centralized Income Tax Refund Office (CITRO) by processing the first batch of income tax refund claims for payment through dedicated VPN tunnel established between FBR and State Bank of Pakistan (SBP).
This is indeed another milestone achieved by the organization through incessant efforts of Member IR Operations and Member IT of FBR, a statement said.
This system would eliminate human interaction between tax authority and taxpayers as well as ensure quick relief to business community.
The FBR said that in line with the vision of the Prime Minister to provide maximum facilitation to the taxpayers and under the guidance of Chairman FBR, the CITRO has been established at FBR in order to facilitate taxpayers by releasing income tax refund payments directly into their bank accounts in an expeditious and transparent manner. This would work in an end-to-end automated manner.
FBR is in process of enhancing this automation process to the next level by creating linkages between all federal and provincial departments as well as large numbers of withholders so that verification and processing of refund claims can also be made in a machine-enabled environment.