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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.

  • Payment for transactions above Rs50,000 must be made through crossed cheque

    Payment for transactions above Rs50,000 must be made through crossed cheque

    KARACHI: Federal Board of Revenue (FBR) has made it mandatory for buyers to make payment above Rs50,000 through crossed cheque or banking instruments ensuring transfer of payment to seller’s account.

    The FBR issued Sales Tax Act, 1990 updated till June 30, 2019 incorporating amendments brought through Finance Act, 2019. Under Section 73 of the Act, the FBR made it mandatory for buyers to make payment for any transaction above Rs50,000 through crossed cheque or through any banking instrument.

    Section 73: Certain transactions not admissible

    Sub-Section (1): Notwithstanding anything contained in this Act or any other law for the time being in force, payment of the amount for a transaction exceeding value of fifty thousand rupees, excluding payment against a utility bill, shall be made by a crossed cheque drawn on a bank or by crossed bank draft or crossed pay order or any other crossed banking instrument showing transfer of the amount of the sales tax invoice in favour of the supplier from the business bank account of the buyer:

    Provided that online transfer of payment from the business account of buyer to the business account of supplier as well as payments through credit card shall be treated as transactions through the banking channel, subject to the condition that such transactions are verifiable from the bank statements of the respective buyer and the supplier.

    Sub-Section (2): The buyer shall not be entitled to claim input tax credit, adjustment or deduction, or refund, repayment or draw-back or zero-rating of tax under this Act if payment for the amount is made otherwise than in the manner prescribed in sub-section (1), provided that payment in case of a transaction on credit is so transferred within one hundred and eighty days of issuance of the tax invoice.

    Sub-Section (3): The amount transferred in terms of this section shall be deposited in the business bank account of the supplier, otherwise the supplier shall not be entitled to claim input tax credit, adjustment or deduction, or refund, repayment or draw-back or zero-rating of tax under this Act.

    Explanation— For the purpose of this section, the term “business bank account” shall mean a bank account utilized by the registered person for business transactions, declared to the Commissioner in whose jurisdiction he is registered 1[through Form STR-1 or change of particulars in registration database.

  • Provisional release of offended imported goods

    Provisional release of offended imported goods

    KARACHI: The collector of customs has been empowered to allow provisional release of imported goods, on which any offence is detected, against duty and payment and submission of bank guarantee for penalty amount.

    The Federal Board of Revenue (FBR) issued Customs Act, 1969 updated till June 30, 2019 incorporating the changes brought through Finance Act, 2019.

    According to the Customs Act, 1969, where any offence is detected in respect of imported goods which are not liable to confiscation or needed for evidence at a later stage, the Collector of Customs may, on written request of owner of the goods, allow release of the same on payment of duty, taxes or other charges and furnishing bank guarantee or pay order against the amount of any penalty or fine which may be imposed on such goods.

    The FBR also explained the clearance for home consumption under Section 83 of the Act.

    It said that when the owner of any goods entered for home-consumption and assessed under section 80 or 81 has paid the import duty and other charges, if any, in respect of the same the appropriate officer, if he is satisfied that the import of the goods is not prohibited or in breach of any restrictions or conditions applying to the import of such goods, may make an order for the clearance of the same:

    Provided that, at customs-stations where the Customs Computerized System is operational the system may clear the goods through system generated clearance documents.

    (2) Where the owner fails to pay import duty and other charges within ten days from the date on which the same has been assessed under sections 80, or 81, he shall be liable to pay surcharge at the rate of KIBOR plus three percent on import duty and other charges payable on such goods.

  • Buyers, sellers jointly responsible for payment of unpaid tax

    Buyers, sellers jointly responsible for payment of unpaid tax

    KARACHI: The Federal Board of Revenue (FBR) has placed significant responsibility on both buyers and sellers in the supply chain for any instance where the payment of tax fails to be deposited into the national treasury.

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  • FBR explains chargeability of tax on income from property

    FBR explains chargeability of tax on income from property

    KARACHI: The rent received or receivable by a person during a tax year is chargeable to tax under head of income from property.

    The FBR issued Income Tax Ordinance, 2001 updated June 30, 2019 and explained the taxability on income from property under Section 15.

    Section 15: Income from property

    Sub-Section (1): The rent received or receivable by a person for a tax year, other than rent exempt from tax under this Ordinance, shall be chargeable to tax in that year under the head “Income from Property”.

    Sub-Section (2): Subject to sub-section (3), “rent” means any amount received or receivable by the owner of land or a building as consideration for the use or occupation of, or the right to use or occupy, the land or building, and includes any forfeited deposit paid under a contract for the sale of land or a building.

    Sub-Section (3): This section shall not apply to any rent received or receivable by any person in respect of the lease of a building together with plant and machinery and such rent shall be chargeable to tax under the head “Income from Other Sources”.

    Sub-Section (3A): Where any amount is included in rent received or receivable by any person for the provision of amenities, utilities or any other service connected with the renting of the building, such amount shall be chargeable to tax under the head “Income from Other Sources”.

    Sub-Section (4): Subject to sub-section (5), where the rent received or receivable by a person is less than the fair market rent for the property, the person shall be treated as having derived the fair market rent for the period the property is let on rent in the tax year.

    Sub-Section (5): Sub-section (4) shall not apply where the fair market rent is included in the income of the lessee chargeable to tax under the head “Salary”.

    Sub-Section (6): Income under this section derived by an individual or an association of persons shall be liable to tax at the rate specified in Division VIA of Part I of the First Schedule.

    Sub-Section (7): The provisions of sub-section (1), shall not apply in respect of an individual or association of persons who derive income chargeable to tax under this section not exceeding two hundred thousand rupees in a tax year and does not derive taxable income under any other head.

    Section 15A: Deductions in computing income chargeable under the head “Income from Property”

    Sub-Section (1): In computing the income of a company chargeable to tax under the head “Income from Property” for a tax year, a deduction shall be allowed for the following expenditures or allowances, namely:-

    (a) In respect of repairs to a building, an allowance equal to one-fifth of the rent chargeable to tax in respect of the building for the year, computed before any deduction allowed under this section;

    (b) any premium paid or payable by the company in the year to insure the building against the risk of damage or destruction;

    (c) any local rate, tax, charge or cess in respect of the property or the rent from the property paid or payable by the company to any local authority or government in the year, not being any tax payable under this Ordinance;

    (d) any ground rent paid or payable by the company in the year in respect of the property;

    (e) any profit paid or payable by the company in the year on any money borrowed including by way of mortgage, to acquire, construct, renovate, extend or reconstruct the property;

    (f) where the property has been acquired, constructed, renovated, extended, or reconstructed by the company with capital contributed by the House Building Finance Corporation or a scheduled bank under a scheme of investment in property on the basis of sharing the rent made by the Corporation or bank, the share in rent and share towards appreciation in the value of property (excluding the return of capital, if any) from the property paid or payable by the company to the said Corporation or the bank in the year under that scheme;

    (g) where the property is subject to mortgage or other capital charge, the amount of profit or interest paid on such mortgage or charge;

    (h) any expenditure, not exceeding six per cent of the rent chargeable to tax in respect of the property for the year computed before any deduction allowed under this section, paid or payable by the company in the year wholly and exclusively for the purpose of deriving rent chargeable to tax under the head, “Income from Property” including administration and collection charges;”

    (i) any expenditure paid or payable by the company in the tax year for legal services acquired to defend the company’s title to the property or any suit connected with the property in a court; and

    (j) where there are reasonable grounds for believing that any unpaid rent in respect of the property is irrecoverable, an allowance equal to the unpaid rent where—

    (i) the tenancy was bona fide, the defaulting tenant has vacated the property or steps have been taken to compel the tenant to vacate the property and the defaulting tenant is not in occupation of any other property of the company;

    (ii) the company has taken all reasonable steps to institute legal proceedings for the recovery of the unpaid rent or has reasonable grounds to believe that legal proceedings would be useless; and

    (iii) the unpaid rent has been included in the income of the company chargeable to tax under the head “Income from Property” for the tax year in which the rent was due and tax has been duly paid on such income.

    Sub-Section (2): Where any unpaid rent allowed as a deduction under clause (j) of sub-section (1) is wholly or partly recovered, the amount recovered shall be chargeable to tax in the tax year in which it is recovered.

    Sub-Section (3): Where a person has been allowed a deduction for any expenditure incurred in deriving rent chargeable to tax under the head “Income from Property” and the person has not paid the liability or a part of the liability to which the deduction relates within three years of the end of the tax year in which the deduction was allowed, the unpaid amount of the liability shall be chargeable to tax under the head “Income from Property” in the first tax year following the end of the three years.

    Sub-Section (4): Where an unpaid liability is chargeable to tax as a result of the application of sub-section (3) and the person subsequently pays the liability or a part of the liability, the person shall be allowed a deduction for the amount paid in the tax year in which the payment is made.

    Sub-Section (5): Any expenditure allowed to a person under this section as a deduction shall not be allowed as a deduction in computing the income of the person chargeable to tax under any other head of income.

    Sub-Section (6): The provisions of section 21 shall apply in determining the deductions allowed to a person under this section in the same manner as they apply in determining the deductions allowed in computing the income of a person chargeable to tax under the head “Income from Business”.

    Sub-Section (7): Notwithstanding sub-section (6) of section 15, the provisions of this section shall apply to an individual or an association of persons deriving income exceeding Rs. 4 million under section 15, who opts to pay tax at the rate specified in Division I of Part I of the First Schedule.

  • FBR outlines revised regime of zero-rate sales tax

    FBR outlines revised regime of zero-rate sales tax

    KARACHI: Federal Board of Revenue (FBR) has outlined the revised regime of zero rating of sales tax on supply of various goods.

    The FBR issued Sales Tax Act, 1990 updated till June 30, 2019 amended through Finance Act, 2019.

    Section 4 of the Act explained the zero-rating of sales tax on supply of various goods.

    Section 4: Zero rating:

    Notwithstanding the provisions of section 3 except those of sub-section (1A), the following goods shall be charged to tax at the rate of zero per cent:–

    (a) goods exported, or the goods specified in the *Fifth Schedule;

    (b) supply of stores and provisions for consumption aboard a conveyance proceeding to a destination outside Pakistan as specified in section 24 of the Customs Act, 1969 (IV of 1969);

    (c) such other goods, as the Federal Government may specify by notification in the official Gazette, whenever circumstances exist to take immediate action for the purposes of national security, natural disaster, national food security in emergency situations and implementation of bilateral and multilateral agreements:”

    *FIFTH SCHEDULE

    01. (i) Supply, repair or maintenance of any ship which is neither;

    (a) a ship of gross tonnage of less than 15 LDT; nor (b) a ship designed or adapted for use for recreation or pleasure.

    (ii) Supply, repair or maintenance of any aircraft which is neither;

    (a) an aircraft of weight-less than 8000 kilograms; nor

    (b) an aircraft designed or adapted for use for recreation or pleasure.

    (iii) Supply of spare parts and equipment for ships and aircraft falling under (i) and (ii) above.

    (iv) Supply of equipment and machinery for pilot age, salvage or towage services.

    (v) Supply of equipment and machinery for air navigation services.

    (vi) Supply of equipment and machinery for other services provided for the handling of ships or aircraft in a port or Customs Airport.

    02. Supply to diplomats, diplomatic missions, privileged persons and privileged organizations which are covered under various Acts, Orders, Rules, Regulations and Agreements passed by the Parliament or issued or agreed by the Government of Pakistan.

    3. Supplies to duty free shops, provided that in case of clearance from duty free shops against various baggage rules issued under the Customs Act, 1969, (IV of 1969), the supplies from duty free shops shall be treated as import for the purpose of levy of sales tax.

    5. Supplies of raw materials 3[, components and goods for further] manufacture of goods in the Export Processing Zones.

    6. Supplies of such locally manufactured plant and machinery to petroleum and gas sector Exploration and Production companies, their contractors and sub-contractors as may be specified by the Federal Government, by notification in the official Gazette, subject to such conditions and restrictions as may be specified in such notification.

    6A. Supplies of locally manufactured plant and machinery of the following specifications, to manufacturers in the Export Processing Zone, subject to the conditions, restrictions and procedure given below, namely:-

    (i) Plant and machinery, operated by power of any description, as is used for the manufacture or production of goods by that manufacturer;

    (ii) Apparatus, appliances and equipments specifically meant or adapted for use in conjunction with the machinery specified in clause (i);

    (iii) Mechanical and electrical control and transmission gear, meant or adapted for use in conjunction with machinery specified in clause (i); and

    (iv) Parts of machinery as specified in clauses (i), (ii) and (iii), identifiable for use in or with such machinery.

    Conditions, restrictions and procedures:-

    (a) the supplier of the machinery is registered under the Act;

    (b) proper bill of export is filed showing registration number;

    (c) the purchaser of the machinery is an established manufacturer located in the Export Processing Zone and holds a certificate from the Export Processing Zone Authority to that effect;

    (d) the purchaser submits an indemnity bond in proper form to the satisfaction of the concerned Commissioner Inland Revenue that the machinery shall, without prior permission from the said Commissioner, not be sold, transferred or otherwise moved out of the Export Processing Zone before a period of five years from the date of entry into the Zone;

    (e) if the machinery is brought to tariff area of Pakistan, sales tax shall be charged on the value assessed on the bill of entry; and

    (f) breach of any of the conditions specified herein shall attract legal action under the relevant provisions of the Act, besides recovery of the amount of sales tax along with default surcharge and penalties involved.

    7. Supplies made to exporters under the Duty and Tax Remission Rules, 2001 subject to the observance of procedures, restrictions and conditions prescribed therein.

    8. Imports or supplies made to Gawadar Special Economic Zone, excluding vehicles falling under heading 87.02 of the Pakistan Customs Tariff, subject to such conditions, limitations and restrictions as the 2[Board] may impose.

    9. Goods exempted under section 13, if exported by a manufacturer.

    10. Petroleum Crude Oil (PCT heading 2709.0000).

    11. Raw materials, components, sub-components and parts, if imported or purchased locally for use in the manufacturing of such plants and machinery as is chargeable to sales tax at the rate of zero percent, subject to the condition that the importer or purchaser of such goods holds a valid sales tax registration showing his registration category as “manufacturer”; and in case of import, all the conditions, restrictions, limitations and procedures as are imposed by notification under section 19 of the Customs Act,1969(IV of 1969), shall apply.

    12. The following goods and the raw materials, packing materials, sub-components, components, sub-assemblies and assemblies imported or purchased locally for the manufacture of the said goods, subject to the conditions, limitations and restrictions as prescribed by the Board:–

    (xvii) Preparations suitable for infants, put up for retail sale] (PCT Heading 1901.1000)

    (xix) Bicycles (PCT heading 87.12).

    (xx) Colors in sets (PCT heading 3213.1000).

    (xxi) Writing, drawing and marking inks (PCT heading. 3215.9010 and 3215.9090)

    (xxii) Erasers (PCT heading 4016.9210 and 4016.9290)

    (xxiii) Exercise books (PCT heading 4820.2000)

    (xxiv) Pencil sharpeners (PCT heading 8214.1000)

    (xxv) Geometry boxes (PCT heading 9017.2000)

    (xxvi) Pens, ball pens, markers and porous tipped pens (PCT heading 96.08)

    (xxvii) Pencils including color pencils (PCT heading 96.09)”.

  • FBR sacks senior auditor for availing plea bargain benefit

    FBR sacks senior auditor for availing plea bargain benefit

    ISLAMABAD: The Federal Board of Revenue (FBR) has imposed major penalty of ‘dismissal from service’ upon a senior auditor for availing plea bargain benefit in corruption case.

    The FBR on Friday said that Kashif Naseer, Senior Auditor, BS-16 posted at Corporate Regional Tax Office, Lahore had availed the benefits of plea bargain in terms of section 25(b) of National Accountability Ordinance, 1999 as per Accountability Court-III, Sindh, Karachi judgment dated May 23, 2019.

    Member (Admn), FBR after examining the case in light of provisions of the Government Servants (Efficiency & Discipline) Rules 1973 imposed the major penalty of “Dismissal from Service” upon Kashif Naseer, Senior Auditor with effect from the date of conviction May 23, 2019.

    The FBR said that Kashif Naseer, Senior Auditor had a right to file an appeal to Appellate Authority under Civil Servants (Appeal) Rules, 1977 within a period of 30 days from the date of communication.

  • FBR acquires information of motor vehicle purchasers

    FBR acquires information of motor vehicle purchasers

    KARACHI: Federal Board of Revenue (FBR) has asked motor vehicle registration authorities and car manufacturers to provide information of persons, who are registration or purchasing motor vehicles.

    The FBR has advised motor vehicle registration authorities and manufacturers of motor vehicles to provide details of persons whose withholding tax was deducted under Section 231B at the time of motor vehicle registration or purchase of motor vehicles.

    The tax authorities also advised the withholding agents to comply with the changes brought through Finance Act, 2019 under which the submission of withholding statement had been made mandatory twice in a year.

    The FBR asked the motor vehicle registration authority and car manufacturers to provide information in case of both categories i.e. compliant taxpayers or persons not on the Active Taxpayers List (ATL).

    From Tax Year 2020 (July 01, 2019 to June 30, 2020) the persons not appearing on ATL will liable to pay 100 percent higher withholding tax.

    The FBR is acquiring information for broadening of tax base purpose. The tax authorities believed that number of individuals were purchasing cars or registering motor vehicles, who were not on the tax roll or in other case compliant but those were concealing true income.

    Under Section 165 of the Income Tax Ordinance, 2001 the FBR empowered to obtain information from withholding agents.

    While withholding agents are required to provide information of persons making transactions, included:

    (a) the name, Computerized National Identity Card Number, National Tax Number and address of each person from whom tax has been collected under Division II of this Part or Chapter XII or the Tenth Schedule or to whom payments have been made from which tax has been deducted under Division III of this Part or Chapter XII or the Tenth Schedule in each half-year

    (b) the total amount of payments made to a person from which tax has been deducted under Division III of this Part or Chapter XII or the Tenth Schedule in each half-year

    (c) the total amount of tax collected from a person under Division II of this Part 1or Chapter XII or the Tenth Schedule or deducted from payments made to a person under Division III of this Part or Chapter XII or the Tenth Schedule in each half-year; and

    (d) such other particulars as may be prescribed

    Provided that every person as provided in sub-section (1) shall be required to file withholding statement even where no withholding tax is collected or deducted during the period.

    Every prescribed person collecting tax under Division II of this Part or Chapter Xll or the Tenth Schedule or deducting tax under Division III of this Part of Chapter Xll or the Tenth Schedule shall furnish statements under sub-section (l) as per the following schedule, namely:-

    (a) in respect of the half-year ending on the 30th June, on or before the 31st day of July; and

    (b) in respect of the half-year ending on the 31st December, on or before the 31st day of January.

  • FBR makes mandatory for big retail chains to share real-time sales data from December 01

    FBR makes mandatory for big retail chains to share real-time sales data from December 01

    ISLAMABAD: The big retail chains in the country will share their sales data with the Federal Board of Revenue (FBR) on real-time basis from December 01, 2019.

    In order to implement the decision the FBR issued SRO 1203(I)/2019 on Thursday to make amendments in Sales Tax Rules, 2006.

    The revenue body notified mandatory integration of sales by Tier-I retailers.

    As per notified rules, the FBR said that commencing from December 01, 2019, all Tier-1 retailers shall integrate their retail outlets with FBR’s computerized system for real-time reporting of sale.

    According to the Sales Tax Act, 1990, the Tier-1 retailers have been defined as:

    (a) a retailer operating as a unit of a national or international chain of stores;

    (b) a retailer operating in an air-conditioned shopping mall, plaza or centre, excluding kiosks;

    (c) a retailer whose cumulative electricity bill during the immediately preceding twelve consecutive months exceeds Rs600,000;

    (d) a wholesaler-cum-retailer, engaged in bulk import and supply of consumer goods on wholesale basis to the retailers as well as on retail basis to the general body of the consumers”; and

    (e) a retailer, whose shop measures one thousand square feet in area or more.

    The FBR said that the sales of finished fabric and locally manufactured finished articles of textile and textile made-ups and leather and artificial leathers would be entitled to reduced sales tax of 14 percent if sales made through integrated outlets.

    The FBR, however, warned that the integrated suppliers who were found to have tampered with the system would not be entitled to claim input adjustment and also not be eligible for reduced sales tax rate.

    Further, the FBR would initiate legal proceedings against such activities besides imposing penalty and recovery of tax.

    The FBR also amended the rules regarding sales made through social media portals, and said that such sales would have same treatment of sales tax in case reported through point of sale in real-time manner.

  • Account holders with Rs10 million deposits on FBR’s radar

    Account holders with Rs10 million deposits on FBR’s radar

    KARACHI: Bank account holders making aggregate deposits of Rs10 million in a month are on radar of Federal Board of Revenue (FBR) for the purpose of broadening of tax base and identifying concealed incomes.

    Federal Board of Revenue (FBR) has said that banks are required to provide details of account holders having aggregate deposits of Rs10 million in a month.

    The FBR issued Income Tax Ordinance, 2001 updated till June 30, 2019 incorporating changes brought through Finance Act, 2019.

    Several changes have been introduced through Section 165A related to furnishing of information by banks of cash withdrawals and deposits.

    Section 165A: Furnishing of information by banks

    Sub-Section (1): Notwithstanding anything contained in any law for the time being in force including but not limited to the Banking Companies Ordinance, 1962 (LVII of 1962), the Protection of Economic Reforms Act, 1992 (XII of 1992), the Foreign Exchange Regulation Act, 1947 (VII of 1947) and the regulations made under the State Bank of Pakistan Act, 1956 (XXXIII of 1956), if any, on the subject every banking company shall make arrangements to provide to the Board in the prescribed form and manner,—

    (a) a list of persons containing particulars of cash withdrawals exceeding fifty thousand Rupees in a day and tax deductions thereon 4[ ], aggregating to Rupees one million or more during each preceding calendar month.;

    (b) a list containing particulars of deposits aggregating rupees ten million or more made during the preceding calendar month;

    (c) a list of payments made by any person against bills raised in respect of a credit card issued to that person, aggregating to rupees two hundred thousand or more during the preceding calendar month;

    (d) a list of persons receiving profit on debt exceeding five hundred thousand rupees and tax deductions thereon during preceding financial year.

    Sub-Section (2): Each banking company shall also make arrangements to nominate a senior officer at the head office to coordinate with the Board for provision of any information and documents in addition to those listed in sub-section (1), as may be required by the Board.

    Sub-Section (3): The banking companies and their officers shall not be liable to any civil, criminal or disciplinary proceedings against them for furnishing information required under this Ordinance.

    Sub-Section (5): Subject to section 216, all information received under this section shall be used only for tax purposes and kept confidential.

  • Tax evading manufacturers, commercial importers supporting traders’ protest

    Tax evading manufacturers, commercial importers supporting traders’ protest

    ISLAMABAD: A large segment of tax evaders in manufacturing sector and commercial importers are behind the traders’ protest in order to force tax authorities to withdraw condition of computerized national identity card (CNIC).

    The condition of CNIC has been introduced in order to identify persons in supply chain and plug leakages of revenue from manufacturing stage to end-consumers.

    In recent surveys of the Federal Board of Revenue (FBR) it has been identified that markets are flooded with goods from domestic and import sources and without payment of duty and taxes.

    Sources in FBR said that some manufacturers and importers were supplying unreported goods to such retailers, which sold to end-consumers without payment of duty and taxes.

    The traders do not want to become part of documented economy on the behest of manufacturers or commercial importers in order to shelter the tax evasion.

    In the past several measures were taken by the government to bring retailers into the tax net but all the times such efforts ended in a failure.

    The latest wave of protests by the trade community is another bid to force the FBR to bow down their demand. But this time, the FBR chairman, who is from private sector, is committed to bring traders into the tax net.

    The traders on Wednesday announced to observe a countrywide shutter-down strike on October 28 and 29, following the failure of talks with FBR officials.

    A protest demonstration was held by the traders against the tax reforms introduced by the government.

    The protesting traders attempted to move towards the FBR Headquarters.

    However, the police stopped the protesters at the Serena Chowk, where they observed a sit-in.

    A few enraged protesters attempted to cause damage to the public properties and tried to remove barbwires in the area.

    This prompted the law enforcers to baton-charge the protesters. Meanwhile, the FBR decided to hold talks with the protesters, but they failed to yield any results.

    The leaders of the protesting traders’ community claimed that the FBR is not ready to listen to their demands and added that they will not pay unjust tax.

    They further that the business community will not accept the condition of presentation of a copy of their CNICs for the sale and purchase of goods.

    The traders hoped that the present government led by Pakistan Tehreek-e-Insaf (PTI) would reconsider their demands and will provide them the fix tax scheme.