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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.

  • Purchase of assets made must through banking instruments

    Purchase of assets made must through banking instruments

    KARACHI: Federal Board of Revenue (FBR) has made mandatory purchase of assets of certain amounts through banking instruments, including crossed cheque or crossed pay order.

    FBR sources said that in order to discourage undocumented economy the government had made changes in Income Tax Ordinance, 2001 through Finance Act, 2019.

    A new Section 75A to the Income Tax Ordinance, 2001 has been inserted under which:

    (1) no person shall purchase-

    (a) immovable property having fair market value greater than five million Rupees; or

    (b) any other asset having fair market value more than one million Rupees,

    otherwise than by a crossed cheque drawn on a bank or through crossed demand draft or crossed pay order or any other crossed banking instrument showing transfer of amount from one bank account to another bank account.

    (2) For the purposes of this section in case of immovable property, fair market value means value notified by the Board under sub-section (4) of section 68 or value fixed by the provincial authority for the purposes of stamp duty, whichever is higher.

    (3) In case the transaction is not undertaken in the manner specified in sub-section (1),

    (a) such asset shall not be eligible for any allowace under sections 22, 23, 24 and 25 of this Ordinance; and

    (b) such amount shall not be treated as cost in terms of section 76 of this Ordinance for computation of any gain on sale of such asset.

    The FBR officials said that any person who purchases immovable property having fair market value greater than rupees five million through cash or bearer cheque then such person shall pay a penalty of five percent of the value of property determined by the Board under sub-section (4) of section 68 or by the provincial authority for the purpose of stamp duty, whichever is higher.

  • Sales tax officers authorized to attach immovable property of defaulters

    Sales tax officers authorized to attach immovable property of defaulters

    KARACHI: Federal Board of Revenue (FBR) has authorized officers of Inland Revenue to attach immovable property of a sales tax defaulter for recovery of amount.

    According to Rule 112 of Sales Tax Rules, 2006, attachment of the immovable property of the defaulter shall be made, by the recovery officer, by an order prohibiting the defaulter from transferring or subjecting the property to a charge in any manner and prohibiting all persons from taking any benefit under such transfer or charge.

    In order to attach immovable property, a copy of the order of attachment shall be served on the defaulter.

    The FBR said that the order of attachment shall be proclaimed on or adjacent to the property attached by affixing a copy of order of attachment at a conspicuous place and a copy of the same shall also be affixed at the notice board in the office of the Recovery Officer.

    Sale and proclamation of sale

    (l) The Recovery Officer may direct that any immovable property, which has been attached, or such portion thereof, as may be necessary to satisfy the demand note, shall be sold if the amount due is not otherwise recoverable.

    (2) Where an immovable property is ordered to be sold, the Recovery Officer shall cause a proclamation to be made in the same manner as provided in rule104.

    Contents of proclamation of sale

    (1) A proclamation of sale of immovable property shall be drawn after proclamation of attachment and shall specify therein the time and place of sale and also specify—

    (a) the location of property to be sold;

    (b) as fairly and accurately as possible, the revenue or rent, if any, assessed upon the property or any part thereof; and

    (c) the Government due for the recovery of which the sale is ordered.

    (2) The proclamation may also specify any other thing which the Recovery Officer considers material for a purchaser to know in order to judge the nature and value of the property.

    No sale of immovable property shall, without the consent in writing of the defaulter, take place until after the expiration of thirty days from the date on which copy of the proclamation of sale was affixed on the property or in the office of the recovery officer, whichever is later.

  • FBR receives 0.92 million income tax returns by Oct 25

    FBR receives 0.92 million income tax returns by Oct 25

    ISLAMABAD: Federal Board of Revenue (FBR) received 0.92 million income tax returns for tax year 2019 by October 25, 2019, Syed Shabbar Zaidi, Chairman, FBR said on Friday.

    He said that the income tax return filing has registered growth of 58 percent so far. According to data of Pakistan Revenue Automation Private Limited (PRAL) the FBR had received 0.585 million income tax returns for the tax year 2018 as of October 25, 2018.

    The chairman said that the FBR had received 332,818 additional income tax returns for tax year 2019 so far.

    The last date for filing income tax returns for tax year 2019 is October 31, 2019 as it was already extended for one month from September 30, 2019.

    The income tax return filing for tax year 2019 has increased to above 2.6 million.

  • FBR bans direct interaction of officials with business community

    FBR bans direct interaction of officials with business community

    ISLAMABAD: Federal Board of Revenue (FBR) has banned direct interaction of its officials with business community from November 01, 2019.

    In a tweet FBR chairman Syed Shabbar Zaidi on Friday said that from November 01, 2019 strict enforcement would be made against unauthorized interaction between FBR staff and business community.

    The FBR chairman urged the business community to report directly to FBR if any of tax official contacts through any manner without proper authorization.

    He said that the FBR would not tolerate any attempt to harass the business community.

    The chairman said that the FBR would issue directives to the staff for avoiding interaction with businessmen through personal visit, telephone calls, cell phone messages or emails.

    He further said that an automated system of the FBR was already in place for such interaction.

  • FBR transfers 78 IRS officers in major reshuffle

    FBR transfers 78 IRS officers in major reshuffle

    ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced major reshuffle in Inland Revenue Service (IRS) and transferred 78 officials of BS-17 to BS-20 with immediate effect and until further orders.

    The FBR announced transfers and postings of following IRS officers:

    01. Sahibzada Abdul Mateen (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-IV) Large Taxpayers Unit-II, Karachi from the post of Commissioner, (IP/TFD/HRM) Large Taxpayers Unit, Karachi.

    02. Zahoor Ahmad Panwar (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (IP/TFD) Corporate Regional Tax Office, Karachi from the post of Commissioner, (Zone-IV) Large Taxpayers Unit-II, Karachi.

    03. Muhammad Farrukh Majid (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (HRM) Corporate Regional Tax Office, Lahore from the post of Commissioner, Inland Revenue (Appeals), Multan.

    04. Hasnain Brohi (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (HRM) Corporate Regional Tax Office, Karachi from the post of Commissioner, Regional Tax Office III, Karachi.

    05. Muhammad Naveed Akhtar (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-V) Regional Tax Office II, Lahore from the post of Commissioner, Large Taxpayers Unit, Lahore.

    0.6 Ms. Tajamal Bilquis (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit, Islamabad from the post of Additional Commissioner, Regional Tax Office, Islamabad.

    07. Ms. Uzma Munir (Inland Revenue Service/BS-19) has been transferred and posted as Secretary, (International Taxes) Federal Board of Revenue (Hq), Islamabad from the post of Secretary, (Taxpayers Audit Wing) Federal Board of Revenue (Hq), Islamabad.

    08. Basit Saleem Shah (Inland Revenue Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation (Inland Revenue), Peshawar from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    09. Muhammad Arshad (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Multan from the post of Additional Commissioner, Regional Tax Office, Faisalabad.

    10. Mian Muhammad Majid Hayat (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Lahore from the post of Additional Director, Directorate General of Training & Research (Inland Revenue), Lahore.

    11. Ms. Bushra Fatima (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit, Lahore from the post of Additional Director, Directorate of Internal Audit (Inland Revenue), Lahore.

    12. Tasawwar Iqbal (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Karachi from the post of Additional Commissioner, Regional Tax Office, Sukkur.

    13. Atif Bashir (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Lahore from the post of Additional Commissioner, Large Taxpayers Unit, Lahore.

    14. Kashif Azhar (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Lahore from the post of Additional Commissioner, Regional Tax Office II, Lahore.

    15. Naveed Dost Chandio (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office III, Karachi from the post of Additional Commissioner, Large Taxpayers Unit-II, Karachi.

    16. Abid Aziz Memon (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Hyderabad from the post of Additional Commissioner, Large Taxpayers Unit-II, Karachi.

    17. Abdul Rehman Khilji (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Additional Commissioner, Regional Tax Office II, Karachi.

    18. Muhammad Aslam Jamro (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Additional Commissioner, Regional Tax Office III, Karachi.

    19. Ms. Nawal Sheikh (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Lahore from the post of Additional Commissioner, Large Taxpayers Unit, Lahore.

    20. Mumtaz Ali Bohio (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Additional Commissioner, Regional Tax Office III, Karachi.

    21. Ejaz Ahmed (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Additional Commissioner, Regional Tax Office II, Karachi.

    22. Muhammad Asif Rafique (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Multan from the post of Additional Commissioner, Regional Tax Office, Faisalabad.

    23. Amanat Ali Shar (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Karachi from the post of Additional Commissioner, Large Taxpayers Unit-II, Karachi.

    24. Ms. Kehkshan Khan (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Lahore from the post of Additional Commissioner, Large Taxpayers Unit, Lahore.

    25. Mazhar Irshad Khan (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Peshawar from the post of Additional Commissioner, Large Taxpayers Unit, Islamabad.

    26. Qadeerullah (Inland Revenue Service/BS-19) has been transferred and posted as Additional Director, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad from the post of Secretary, (Law Procedure & Exemption) Federal Board of Revenue (Hq), Islamabad.

    27. Fayaz Hussain Abro (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Additional Commissioner, Regional Tax Office, Hyderabad.

    28. Bilal Ahmed (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Islamabad from the post of Additional Commissioner, Regional Tax Office, Faisalabad.

    29. Amanullah Virk (Inland Revenue Service/BS-19) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Lahore from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    30. Rehmatullah (AOST/BS-18) has been transferred and posted as Assistant Director (Audit), Large Taxpayers Unit, Islamabad from the post of Assistant Director (Audit), Federal Board of Revenue (Hq), Islamabad.

    31. Azhar Jehangir (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue Corporate Regional Tax Office, Lahore from the post of Additional Commissioner, Regional Tax Office II, Lahore.

    32. Muhammad Masood Ahmed Gorsi (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Additional Commissioner, Corporate Regional Tax Office, Karachi.

    33. Ms. Yasmin Sadaf (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Rawalpindi.

    34. Muhammad Sarim Bhatti (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Corporate Regional Tax Office, Lahore from the post of Second Secretary, Federal Board of Revenue (Hq), Islamabad.

    35. Shehryar Akram Awan (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Regional Tax Office III, Karachi.

    36. Ms. Bela Tariq (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue (AEOI Zone) Large Taxpayers Unit, Lahore from the post of Deputy Director, Directorate of
    Internal Audit (Inland Revenue), Lahore.

    37. Khalid Sultan (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Regional Tax Office, Islamabad from the post of Second Secretary, (IR-Operations Wing) Federal Board of Revenue (Hq), Islamabad.

    38. Haider Abbas Abbasi (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    39. Rehan Khalid (AOST/BS-18) has been transferred and posted as Assistant Director (Audit), (IR-Operations Wing) Federal Board of Revenue (Hq), Islamabad from the post of Assistant Director (Audit), Large Taxpayers Unit, Islamabad.

    40. Qadeer Ullah (AOST/BS-18) has been transferred and posted as Assistant Director (Audit), Regional Tax Office, Peshawar from the post of Assistant Director (Audit), Regional Tax Office, Sialkot.

    41. Ms. Mona Baqir (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Director, Directorate of Training & Research (Inland Revenue), Islamabad from the post of Second Secretary, Federal Board of Revenue (Hq), Islamabad.

    42. Abdul Hameed Magsi (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit-II, Karachi.

    43. Muhammad Asif Nadeem (SAST/BS-18) has been transferred and posted as Assistant Director (Audit), Regional Tax Office, Multan from the post of Assistant Director (Audit), Federal Board of Revenue (Hq), Islamabad.

    44. Sajjad Hussain (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Regional Tax Office III, Karachi.

    45. Aijaz Ali (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Regional Tax Office III, Karachi.

    46. Riaz Ahmed (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Regional Tax Office II, Karachi from the post of Deputy Commissioner, Regional Tax Office III, Karachi.

    47. Ms. Mahak Mansoor (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue (AEOI Zone) Large Taxpayers Unit, Lahore from the post of Deputy Director, Directorate of Special Initiative-IR, Lahore.

    48. Ali Saleh Hayat Kalyar (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Sargodha.

    49. Ejaz Shabbir Malik (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Regional Tax Office, Rawalpindi from the post of Deputy Commissioner, Regional Tax Office, Islamabad.

    50. Mrs. Mahwish Khan (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Director, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad from the post of Deputy Commissioner, Regional Tax Office, Islamabad.

    51. Muhammad Waqas Maqsood (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit-II, Karachi.

    52. Muhammad Irfan Haider (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Regional Tax Office, Faisalabad from the post of Deputy Commissioner, Regional Tax Office, Bahawalpur.

    53. Suhail Abbas (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Director, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad from the post of Second Secretary, Federal Board of Revenue (Hq), Islamabad.

    54. Muhammad Asim Qadir Haye (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Director, Directorate General of Internal Audit (Inland Revenue), Islamabad from the post of Second Secretary, (HRM Wing) Federal Board of Revenue (Hq), Islamabad.

    55. Mrs. Farva Abid (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, (IR) Large Taxpayers Unit, Karachi.

    56. Mansoor Wisal (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    57. Ms. Misbah Noreen (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Rawalpindi.

    58. Umair Akbar Soomro (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    59. Amjad Hussain Janvri (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    60. Ms. Romana Alam (Inland Revenue Service/BS-18) has been transferred and posted as Deputy Commissioner Inland Revenue Regional Tax Office, Islamabad from the post of Second Secretary, (Inland Revenue Policy Wing) Federal Board of Revenue (Hq), Islamabad.

    61. Mujeeb Ahmed Nasir (SAST/BS-18) has been transferred and posted as Assistant Director (Audit), Directorate of Intelligence & Investigation (Inland Revenue), Karachi from the post of Assistant Director (Audit), Regional Tax Office II, Karachi.

    62. Ms. Sana Ghous (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Director, Directorate of Special Initiative-IR, Lahore from the post of Deputy Commissioner, Corporate Regional Tax Office, Lahore.

    63. Ms. Romesa Tahir (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Rawalpindi.

    64. Gulfam Afzal (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Regional Tax Office, Rawalpindi from the post of Deputy Director, Directorate of Internal Audit (Inland Revenue), Islamabad.

    65. Saad Khan (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Islamabad.

    66. Tariq Hussain Matlo (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Regional Tax Office II, Karachi.

    67. Rosheen Hussain Syed (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit, Lahore from the post of Deputy Commissioner, Large Taxpayers Unit, Islamabad.

    68. Ms. Shahida Nazeer (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner Inland Revenue Large Taxpayers Unit, Karachi from the post of Assistant Commissioner, Corporate Regional Tax Office, Karachi.

    69. Usama Amin (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Assistant Commissioner, Regional Tax Office, Sialkot.

    70. Ali Raza Gilani (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner Inland Revenue Regional Tax Office II, Lahore from the post of Assistant Commissioner, Regional Tax Office, Gujranwala.

    71. Saad Ali Siddique (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner (Prob) Inland Revenue Regional Tax Office II, Karachi from the post of Assistant Commissioner (Prob), Regional Tax Office III, Karachi.

    72. Ms. Zinnia Hussain (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Director, Directorate General of Training & Research (Inland Revenue), Lahore from the post of Assistant Commissioner (Prob), Regional Tax Office II, Lahore.

    73. Muhammad Adeel Quddusi (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner (Prob) Inland Revenue Regional Tax Office II, Karachi from the post of Assistant Commissioner (Prob), Regional Tax Office III, Karachi.

    74. Ms. Naushaba (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner (Prob) Inland Revenue Regional Tax Office II, Karachi from the post of Assistant Commissioner (Prob), Regional Tax Office III, Karachi.

    75. Baqar Ali (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner (Prob) Inland Revenue Corporate Regional Tax Office, Karachi from the post of Assistant Commissioner (Prob), Regional Tax Office, Hyderabad.

    76. Suhbat Ali Sahto (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner Inland Revenue Corporate Regional Tax Office, Karachi from the post of Assistant Commissioner, Regional Tax Office II, Karachi.

    77. Zulfiqar Ali Memon (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Assistant Commissioner, Regional Tax Office III, Karachi.

    78. Abdul Waheed Awan (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Assistant Commissioner, Regional Tax Office III, Karachi.

    The FBR said that the officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting.

  • FBR nominates 22 customs officers BS-18 for mandatory training course

    FBR nominates 22 customs officers BS-18 for mandatory training course

    ISLAMABAD: Federal Board of Revenue (FBR) on Friday nominated 22 officers of BS-18 Pakistan Customs Service (PCS) for training course, which is mandatory for promotion to next scale.

    The FBR nominated the officers for 29th Mid Career Management Course (MCMC) that is commencing from February 03, 2020 to May 08, 2020 at National Institute of Management (NIM), Lahore, Karachi, Peshawar and Quetta.

    The FBR directed all officers nominated to complete their performance evaluation reports (PERs) up to June 30, 2019 and submit their latest annual medical examination report to FBR by November 11, 2019. The FBR warned that in case any officer fails to do so next in order of seniority will be nominated/communicated to Establishment Division.

    The training course is important because it is mandatory for promotion. If an officer is selected for mandatory training, declines to proceed on training for two consecutive training course, he/she would forfeit the right to be considered for promotion, provided that the Prime Minister may dispense with this provision (in any case) in public interest.

    Following is the list of PCS/BS-18 officers for 29th MCMC:

    01. Tauqeer Ahmed Dar, Deputy Collector, Model Customs Collectorate (MCC) Preventive, Lahore.

    02. Muhammad Ali Asad Khan, Deputy Collector, Office of the Chief Collector Customs (Central), Lahore.

    03. Tayyab Bukhari, Deputy Collector, MCC Appraisement, Lahore.

    04. Asma Bashir, Deputy Collector, MCC AIIA Lahore.

    05. Khaidun Ul Haq, Deputy Collector, MCC Gilgit-Baltistan.

    06. Syed Babar Ali Shah, Deputy Collector, MCC Sialkot.

    07. Fazil Shakoor, Deputy Director, Directorate of Intelligence and Investigation, FBR, Quetta.

    08. Muhammad Faisal, Deputy Director, Directorate of Reforms and Automation (Customs), Karachi.

    09. Zehra Tahir Naqvi, Deputy Collector, MCC Exports, Custom House, Karachi.

    10. Shoukat Hayat, Deputy Director, Directorate General of Transit Trade, Karachi.

    11. Shams-ur-Rehman, Deputy Collector, Model Customs Collectorate of Appraisement, Quetta.

    12. Falik Shair, Deputy Collector, MCC Gwadar.

    13. Ammar Ahmad Mir, Deputy Director, Directorate General of Training and Research (Customs), Karachi.

    14. Yawar Nawaz, Deputy Collector, MCC Preventive, Peshawar.

    15. Nausheen Riaz Khan, Deputy Director, Directorate of Risk Management, Karachi.

    16. Mahwish Shah, Deputy Director, Directorate of Post Clearance Audit, Karachi.

    17. Amna Naeem, Deputy Collector, MCC Preventive, Karachi.

    18. Shah Faisal, Deputy Collector, MCC Appraisement, Quetta.

    19. Abdul Mueed, Deputy Collector, Collectorate of Customs (Adjudication), Faisalabad.

    20. Muhammad Rehan Akram, Deputy Collector, MCC Appraisement, Lahore.

    21. Palwasha Syed, Deputy Collector, Collectorate of Customs (Adjudication), Lahore.

    22. Syed Kareem Adil, Deputy Collector, MCC Hyderabad.

  • Withholding tax collection on profit from bank deposits surges by 194pc

    Withholding tax collection on profit from bank deposits surges by 194pc

    KARACHI: The collection of withholding tax from profit on bank deposits registered unprecedented growth of 194 percent during first quarter of first fiscal year as the tax rates increased by 100 percent for persons not on the Active Taxpayers List (ATL).

    Sources in Regional Tax Office (RTO) –II Karachi said that the withholding tax collection under Section 151(1)(b) of Income Tax Ordinance, 2001 increased to Rs14.56 billion during first quarter (July – September) of fiscal year 2019/2020 as compared with Rs4.95 billion in the corresponding period of the last fiscal year.

    The sources explained that under Section 151(1)(b) withholding tax is collected on profit on debt paid by banking companies or financial institutions on account or deposit maintained.

    Every banking company is required to collect 10 percent of the gross yield/profit paid up to Rs500,000 or 15 percent of the gross yield / profit paid exceeding amount Rs500,000 at the time the profit on debt is credited to the account of the recipient or is actually paid, whichever is earlier.

    The sources said that it is mandatory for the banks to collect double the amount of withholding tax from those persons receiving profit on debt but not on the Active Taxpayers List (ATL).

    The government through Finance Act, 2019 introduced 10th Schedule to the Income Tax Ordinance, 2001 to enhance the rate of withholding tax by 100 percent on certain transactions.

    The measure has been taken to force persons making large transactions and paying withholding tax on such transactions but remained outside the tax net.

    The sources said that after the implementation of the 10th Schedule the pace of return filing for Tax Year 2018 increased in order to avoid paying 100 percent higher rate of withholding tax.

    According to ATL updated October 21, 2019 the number of return filers were increased to 2.64 million for tax year 2018 as compared with 1.84 million returns received for tax year 2017.

  • Method for determination of input sales tax

    Method for determination of input sales tax

    KARACHI: Sales tax rules have defined method for determination of input tax claimed by registered persons.

    According to rule 25 of Sales Tax Rules 2006, input tax paid on raw materials relating wholly to the taxable supplies shall be admissible under the law.

    Input tax paid on raw materials relating wholly to exempt supplies shall not be admissible.

    The amount of input tax incurred for making both exempt and taxable supplies shall be apportioned according to the following formula, namely:–

    Residual input tax credit on taxable supplies =

    Value of taxable supplies
    —————————————————- x Residual input tax
    (Value of taxable + exempt supplies)

    Monthly adjustment of input tax claimed by a registered person under this Chapter shall be treated as provisional adjustment and at the end of each financial year, the registered person shall make final adjustment on the basis of taxable and exempt supplies made during the course of that year.

    Any input tax adjustment claimed wrongfully on account of incorrect application of formula set out in sub-rule (3) shall be punishable under the respective provisions of law irrespective of the fact that the claim was provisional.

    Federal Board of Revenue (FBR) said that this shall apply to the registered persons who make taxable and exempt supplies simultaneously.

  • Post refund divisions to be set up at RTOs/LTUs to audit claims

    Post refund divisions to be set up at RTOs/LTUs to audit claims

    ISLAMABAD: Federal Board of Revenue (FBR) has decided to audit sales tax refunds by establishing ‘refund division’ at all Regional Tax Offices (RTOs) and Large Taxpayers Units (LTUs).

    According to amended Sales Tax Rules, 2006 issued by the FBR the Rule 27 has been amended to establish Centralized Sales Tax Refund Office (CSTRO), Refund Division and posting of officers.

    The FBR said that a CSTRO would be established under the Board for centralized payment of all refund amounts as due under the Act.

    Further a Refund Division will be established, which will be headed by an officer, not below the rank of Assistant Commissioner, herein after referred to as officer-in-charge, duly supported by audit staff referred to as processing officers, to examine, process and settle the refund claims filed under these rules.

    Further Post Refund Division in each RTO or LTU shall be established, which will be headed by an officer not below the rank of an Assistant Commissioner to audit the refund claims processed and sanctioned by the Refund Division.

    The FBR said that that scrutiny of the refund claims processed or sanctioned after the June 30, 2014 shall be carried out on the basis of risk-based selection through computerized Post Refund Scrutiny (PRS):

    Provided that where the Commissioner Inland Revenue has reasons to believe that a registered person, whose refund claim was processed or sanctioned, has been paid refund which was not admissible to him, he may direct through order in writing to conduct computerized Post Refund Scrutiny (PRS) of such claim.

    Post refund audit of refund claims process through RMS will be the responsibility of the audit Divisions of respective RTO/LTU.

    The registered person claiming refund under these rules shall maintain and keep all the paper documents relating to the refund claim, such as invoices, credit notes, debit notes, goods declarations, bank credit advice, etc. in his office.

  • FBR grants performance allowance to officials of MCC Preventive Peshawar

    FBR grants performance allowance to officials of MCC Preventive Peshawar

    ISLAMABAD: Federal Board of Revenue (FBR) has granted performance allowance equivalent to 100 percent of minimum of basic pay to Customs officials posted at Model Customs Collectorate (Preventive) Peshawar.

    In a notification issued on Tuesday, the FBR granted following inspectors of BS-16 of MCC Preventive Peshawar, who have been selected through the process of internal job posting, performance allowance equal to 100 percent of minimum of their basic pay (in pay scale 2011) with effect from October 07, 2019:

    01. Ilyas Iqbal

    02. Shahroz Khaliq

    03. Shah Fahad Khan

    04. Zia-ur-Rehman

    Grant of Performance Allowance will be governed through the terms and conditions laid down vide Circular No. 6(96)S(BIC)/2013-14 dated 06.03.2015 to be read with Para-10 of Finance Division’s O.M.No.1(3)/Imp/2015-360 dated 07.07.2015. The allowance will be discontinued in case prescribed terms and conditions are not fulfilled within one month from the date of issuance of this notification.