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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.

  • FBR launches mobile app for filing salary returns

    FBR launches mobile app for filing salary returns

    ISLAMABAD: Federal Board of Revenue (FBR) will launch a mobile application today (September 13, 2019) for filing annual income tax returns by salaried persons.

    “FBR will tomorrow launch a ‘Mobile App’ for filing return of income for salaried persons,” said Syed Shabbar Zaidi, Chairman, FBR in a tweet on Thursday.

    “Now return of income for such persons, including payment of tax, can be made using smart phones,” he said.

    “This is a step towards complete digitalisation of processes in taxation system,” he added.

    The last date for filing income tax returns for tax year 2019 by salaried persons is September 30, 2019.

  • FBR transfers 12 Commissioners Inland Revenue

    FBR transfers 12 Commissioners Inland Revenue

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday transferred 12 Commissioners of Inland Revenue with immediate effect and until further orders.

    The FBR notified the transfers and posting of following Commissioners in BS-19-20:

    01. Muhammad Irfan Raza (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-VI) Corporate Regional Tax Office, Lahore from the post of Commissioner, (Zone-I) Large Taxpayers Unit, Lahore.

    02. Sahibzada Abdul Mateen (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (IP/TFD/HRM) Large Taxpayers Unit, Karachi from the post of Commissioner, (Zone-I) Regional Tax Office, Quetta.

    03. Muhammad Khalid Malik (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Lyallpur Zone) Regional Tax Office, Faisalabad from the post of Commissioner, (Zone-II) Regional Tax Office, Sargodha.

    04. Ms. Sumbal Agha (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-I) Large Taxpayers Unit, Lahore from the post of Commissioner, (Zone-VI) Corporate Regional Tax Office, Lahore.

    05. Ms. Irum Sarwar (Inland Revenue Service/BS-20) has been trasferred and posted as Commissioner Inland Revenue (HRM) Large Taxpayers Unit, Lahore from the post of Commissioner, (Chenab Zone) Regional Tax Office, Faisalabad.

    06. Hazoor Bux Laghari (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-I) Regional Tax Office, Quetta from the post of Commissioner, (Zone-II) Regional Tax Office, Quetta.

    07. Muhammad Abid (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-I) Regional Tax Office, Gujranwala from the post of Commissioner, (Okara Zone) Regional Tax Office, Sahiwal.

    08. Faisal Rauf Memon (Inland Revenue Service/BS-20) has been trasnferred and posted as Commissioner Inland Revenue (Zone-V) Large Taxpayers Unit, Karachi from the post of Commissioner, (Zone-I) Large Taxpayers Unit-II, Karachi.

    09. Ms. Yasmeen Fatima (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-VII) Corporate Regional Tax Office, Lahore from the post of Commissioner, (BTB) Regional Tax Office II, Lahore.

    10. Abdul Hafeez Nizamani (Inland Revenue Service/BS-20) has been trasferred and posted as Commissioner Inland Revenue (Zone-II) Regional Tax Office, Sukkur from the post of Commissioner, Inland revenue (Appeals), Sukkur.

    11. Zulfiqar Ali Syed (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-I) Large Taxpayers Unit-II, Karachi from the post of Commissioner, (Zone-II) Regional Tax Office, Hyderabad.

    12. Naeem Babar (Inland Revenue Service/BS-19) has been transferred and posted as Commissioner Inland Revenue (OPS) (Chenab Zone) Regional Tax Office, Faisalabad from the post of Commissioner, (OPS) (Lyallpur Zone) Regional Tax Office, Faisalabad.

    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.

  • Income tax refund can be claimed within two years from filing return date

    Income tax refund can be claimed within two years from filing return date

    The Federal Board of Revenue (FBR) has reminded taxpayers that income tax refunds can be claimed within two years from the date of filing the tax return or from the date the tax was paid, whichever is later. This clarification aims to guide taxpayers through the refund process and ensure they comply with deadlines, avoiding any potential loss of entitlement.

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  • FBR warns taking legal action against fabricated tobacco license news publication

    FBR warns taking legal action against fabricated tobacco license news publication

    ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday said it has right to take legal action against fabricated news publication regarding grant of track and trace tobacco license.

    “The FBR reserves the right to take legal action against publication of such fabricated and concocted news report,” said a statement.

    The FBR issued a strong rebuttal appearing in press and circulating on Social media regarding issuance of Invitation for License (IFL) FOR “Electronic Monitoring Track and trace System for Tobacco Products.”

    FBR has clarified that the news item is totally baseless and allegations leveled against the Chairman FBR are basically an effort to sabotage fair and open process of licensing in order to give benefit to tax evaders and illicit traders in tobacco industry.

    The news item is negated on basis of following facts:

    The IFL has been issued under section 40C of the Sales Tax Act, 1990 and the Sales Tax Rules, 2006.

    The amendment in the Ruleseere made which were issued much before appointment of Syed Shabbar Zaidi as Chairman, FBR who took charge as chairman FBR on 10.05.2019 which is two and half months after the issuance of the Licensing Rules, 2019.

    A consultant having an international experience and credentials was also hired well before the issuance of IFL after following a transparent process to seek guidance and expert advice with a view to make the process fair and fool proof.

    The IFL was published in local as well as international newspapers in order to make it more transparent and open for all the solution providers. The IFL was also placed on PPRA website and all PPRA Rules are being followed in letter and spirit.

    After the issuance of IFL more than 20 obtained bidding/Licensing documents. No company has submitted the Licensing documents till date as the closing date for submission of documents is 20th September. Hence the question of awarding of license to any company does not arise.

    There is no loss of revenue of the Government of Pakistan as reported in the news item, the FBR clarified.

  • FBR clears Rs15.6 billion sales tax refunds in 8,415 RPOs: Dr. Hafeez Shaikh

    FBR clears Rs15.6 billion sales tax refunds in 8,415 RPOs: Dr. Hafeez Shaikh

    The Federal Board of Revenue (FBR) has cleared Rs 15.6 billion in sales tax refunds against 8,415 refund payment orders (RPOs), marking a significant move to enhance business liquidity and stimulate economic activity in the country.

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  • Pakistan’s tax-to-GDP ratio slips to 11.6 percent

    Pakistan’s tax-to-GDP ratio slips to 11.6 percent

    Pakistan’s tax-to-GDP ratio fell to 11.6% in the fiscal year 2018/2019, down from 13% in the previous fiscal year, according to data released by the Ministry of Finance.

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  • Customs duty to apply on re-importation of goods manufactured in Pakistan

    Customs duty to apply on re-importation of goods manufactured in Pakistan

    KARACHI: Federal Board of Revenue (FBR) has said that customs duty shall be applied on re-importation of goods that are manufactured and exported from Pakistan.

    The FBR issued Customs Act, 1969 updated June 30, 2019 and explained re-importation of goods produced or manufactured in Pakistan under section 22 of the Act.

    Section 22: Re-importation of goods produced or manufactured in Pakistan

    If goods produced or manufactured in and exported from Pakistan are subsequently imported into Pakistan, such goods shall be liable to customs-duties and be subject to all the conditions and restrictions, if any, to which goods of the like kind and value not so produced or manufactured are liable on the importation thereof:

    Provided if such goods have been imported within one year of their exportation and have been consigned to the person in whose account they were exported and have not undergone any processing since their exportation, the appropriate officer not below the rank of Assistant Collector of Customs may admit the goods-

    (a) Where at the time of exportation of such goods, rebate, refund or drawback of any customs or Federal Excise duty or any other tax levied by the Federal Government or any tax, cess or duty levied by the Provincial Government was allowed on payment of customs duty equal to the amount of such rebate, refund or drawback as the case may be;

    (b) where such goods were exported in bond, without payment of –

    (i) the customs-duty chargeable on the imported materials, if any, used in the manufacture of the goods; or

    (ii ) the Federal Excise duty chargeable on the indigenous materials, if any, used in the manufacture of such goods; or

    (iii) the Federal Excise duty, if any, chargeable on such goods; or

    (iv) any other tax chargeable on the material used in the manufacture of such goods; or

    (v) any other tax chargeable on such goods, on payment of customs-duty equal to the aggregate amount of all such duties and taxes calculated at the rates prevailing at the time and place of importation of goods; or

    (c) in any other case, without payment of duty.

    Section 22A: Temporary export of imported plant and machinery

    Imported plant and machinery, temporarily exported that have not undergone any alteration, renovation, addition or refurbishment, may be re-imported duty free subject to the specific or general terms and conditions the Board may by the rules prescribe.

  • FBR to collect FED on steel products, rescinds sales tax notification

    FBR to collect FED on steel products, rescinds sales tax notification

    KARACHI: The government has decided to collect federal excise duty from steel products instead of sales tax. In this regard the Federal Board of Revenue (FBR) has issued 992(I)/2019 dated September 04, 2019 to implement the decision.

    The FBR issued minimum values of locally produced goods for the purpose of payment of federal excise duty in sales tax mode on ad valorem basis, at the rate defined below under the First Schedule to the Federal Excise Act, 2005:

    01. Steel bars and other long profiles at the value of Rs83,000 per metric ton.

    02. Steel Billets at the value of Rs74,000 per metric ton.

    03. Steel Ingots/bala at the value of Rs72,000 per metric ton.

    04. Ship plates at the value of Rs72,000 per metric ton.

    05. Other re-rollable iron and steel scrap at the value of Rs71,000 per metric ton.

    The FBR further explained that in ccase the value of the goods specified in the Table above, as determined under sub-section (I) of Section 12 of the Federal Excise Act, 2005, is higher than the value fixed herein, the value of goods shall be such higher value.

    The FBR also rescinded the SRO 697(I)/2019 dated June 29, 2019 through SRO 993(I)/2019.

    Through SRO 697(I)/2019 the fbr issued the fixed value of locally produced goods for the purpose of sales tax on ad valorem basis under the Sales Tax Act, 1990.

    01. Steel bars and other long profiles at the value of Rs83,000 per metric ton.

    02. Steel Billets at the value of Rs74,000 per metric ton.

    03. Steel Ingots/bala at the value of Rs72,000 per metric ton.

    04. Ship plates at the value of Rs72,000 per metric ton.

    05. Other re-rollable iron and steel scrap at the value of Rs47,000 per metric ton.

    The SRO 697(I)/2019 was imposed from July 01, 2019.

  • Salary tax slabs for filing returns tax year 2019

    Salary tax slabs for filing returns tax year 2019

    KARACHI: The salaried person shall follow the following slabs for filing income tax returns for tax year 2019 which is due on September 2019.

    01. Where the taxable income does not exceed Rs400,000 the tax shall be zero.

    02. Where the taxable income exceeds Rs400,000 but does not exceed Rs800,000 the tax amount shall be Rs1,000.

    03. Where the taxable income exceeds Rs800,000 but does not exceed Rs1,200,000 the tax amount shall be Rs2,000.

    04. Where the taxable income exceeds Rs1,200,000 but does not exceed Rs2,500,000 the tax shall be 5 percent of the amount exceeding Rs. 1,200,000.

    05. Where the taxable income exceeds Rs2,500,000 but does not exceed Rs4,000,000 the tax shall be Rs65,000 + 15 percent of the amount exceeding Rs2,500,000.

    06. Where the taxable income exceeds Rs4,000,000 but does not exceed Rs8,000,000 the tax shall be Rs290,000 + 20 percent of the amount exceeding Rs4,000,000.

    07. Where the taxable income exceeds Rs8,000,000 the tax shall be 1,090,000 + 25 percent of the amount exceeding Rs8,000,000.

    Provided that where the taxable income exceeds eight hundred thousand rupees the minimum tax payable shall be two thousand rupees.

    The Federal Board of Revenue (FBR) has issued the final income tax return forms for all categories of taxpayers in order to ensure to complete return filing by September 30, 2019.

  • FBR issues finalized return forms for companies

    FBR issues finalized return forms for companies

    The Federal Board of Revenue (FBR) has officially released the finalized return forms for companies, marking a crucial step in the taxation process for the tax year 2019.

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