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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 extends time limit to 25 days for GD filing

    FBR extends time limit to 25 days for GD filing

    KARACHI: Federal Board of Revenue (FBR) on Monday extended time limit for filing goods declaration to facilitate traders and importers, who were facing difficulties due to lockdown.

    The FBR extended the time limit for filing of goods declaration from the existing 10 days of arrival of goods to further 15 days (total 25 days) for all Import General Manifest (IGMs) filed between March 17, 2020 and April 07, 2020.

    The FBR said that the customs collectorates across the country were operating normally, however, on account of the ongoing lockdown by provincial governments to address the prevailing pandemic of COVID-19, the importers and clearing agents were facing hardship in filing of goods declaration within the time limit prescribed under Customs Act, 1969.

    The consequent penalty on this account is causing undue hardship to the traders as the circumstances for late filing, which was beyond their control.

    The FBR said that it had received requests from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry (KCCI) for extension in the time limit for filing of goods declaration.

  • Date for sales tax payment may not to be extended

    Date for sales tax payment may not to be extended

    ISLAMABAD: Federal Board of Revenue (FBR) has said it will not extend the date for sales tax payment beyond March 31, 2020.

    The FBR spokesman said that the date was extended for duty and tax payment in order to facilitate taxpayers amid outbreak of coronavirus and subsequent lockdown.

    Through a notification on March 18 the FBR extended the last date for submission of sales tax and federal excise return for the tax period of February 2020.

    The FBR extended the date of submission of sales tax and federal excise return up to March 25 for the tax period of February 2020, which was due on March 18, 2020.

    The FBR on March 24 issued another circular to further extend the date for submission of sales tax and federal excise returns along with annexures for the tax period of January 2020 and February 2020.

    The FBR allowed extension return filing date for January 202 up to April 15, 2020. This return was due on February 18, 2020 and was extended up to February 28, 2020.

    For the month of February 2020, the date for payment of sales tax and federal excise duty has been extended up to March 03, 2020 which was due on March 15, 2020.

    The submission of sales tax and federal excise return has been further extended up to April 15, 2020, which was due on March 18, 2020 and it was extended up to March 25, 2020.

  • FBR may extend date for Tier-1 retailers POS integration

    FBR may extend date for Tier-1 retailers POS integration

    ISLAMABAD: Federal Board of Revenue (FBR) is likely to extend the last date for big retailers to integrate their point of sales (POSs) with the online system of the tax system owing to ongoing lockdown to prevent spread of coronavirus, sources said on Wednesday.

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  • FBR advises duty, tax payment through alternate delivery channels

    FBR advises duty, tax payment through alternate delivery channels

    KARACHI: Federal Board of Revenue (FBR) has advised taxpayers to pay duty and taxes through alternate delivery channels (ADC) during restricted movement in the wake of coronavirus pandemic.

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  • FBR extends date for filing sales tax returns up to April 15

    FBR extends date for filing sales tax returns up to April 15

    ISLAMABAD: In response to the ongoing lockdowns across various regions of the country to curb the spread of COVID-19, the Federal Board of Revenue (FBR) has announced an extension for the filing of monthly sales tax returns. This decision aims to alleviate the burden on taxpayers facing difficulties due to the pandemic-induced restrictions.

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  • FBR allows exemption on import of 61 medical, testing equipment to fight against coronavirus

    FBR allows exemption on import of 61 medical, testing equipment to fight against coronavirus

    ISLAMABAD: Federal Board of Revenue (FBR) has allowed exemption from duty and taxes on import of medical and testing equipment regarding outbreak of coronavirus.

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  • FBR withdraws sugar valuation for sales tax collection

    FBR withdraws sugar valuation for sales tax collection

    KARACHI: Federal Board of Revenue (FBR) has withdrawn valuation of sugar for the purpose of sales tax collection in order to ensure clearance at prevalent international rates.

    The FBR issued SRO 233(I)/2020 dated March 18, 2020 to amend SRO 812(I)/2016 dated September 02, 2016.

    The FBR had fixed valuation at $725 per metric ton through previous notification. However, the prices of the commodity witnessed sharp decline in international market over the time.

    Presently, the international sugar prices is being traded at $334.30 per metric tons. The prices fell by 21 percent during March 20, 2020 in international trade.

  • FBR extends date for filing sales tax returns

    FBR extends date for filing sales tax returns

    ISLAMABAD – The Federal Board of Revenue (FBR) has announced an extension in the deadline for filing sales tax and federal excise return for the month of February 2020.

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  • FBR decides online monitoring sale of petroleum products

    FBR decides online monitoring sale of petroleum products

    ISLAMABAD: Federal Board of Revenue (FBR) has decided online monitoring the sale of petroleum products in order to prevent tax evasion.

    In this regard the FBR issued SRO 23(I)/2020 dated March 16, 2020 to amend Sales Tax Rules, 2006. The amendment has been introduced in Rule 150ZF to include petroleum products in the list of specified items.

    As per the rule 150ZF, it shall apply to electronic monitoring, tracking and tracing of production, import and supply chain on real time basis.

    The FBR has already included items in the list for real-time monitoring of goods, which included: tobacco products; beverages; sugar; fertilizers; and cement.

    The FBR also clarified that specified goods including petroleum products, if brought from non-tariff area as define in the Federal Excise Act, 2005 shall be treated as imported goods.

    Through another amendment to rule 150ZG the FBR also redefined licensing committee as a committee comprising at least three members of Inland Revenue Officers not below the rank of BPS-20 of FBR Headquarters, assisted by technical or IT expert and any other officer or authority designated by the Board.

    Prior to the amendment, the licensing committee was defined as: a committee comprising Commissioner (Zone-1), LTU, Islamabad, Commissioner (Zone-1) LTU Karachi, Commissioner Mardan Zone, RTO Peshawar, Director, Intelligence and Investigation-IR, Islamabad, Chief-IR (Operations-1), FBR Headquarters, Islamabad and any other officer or authority designated by the Board.

  • FBR starts obtaining CNIC information on purchases above Rs50,000

    FBR starts obtaining CNIC information on purchases above Rs50,000

    KARACHI: Federal Board of Revenue (FBR) has started obtaining CNIC information of buyers making purchases above Rs50,000 in order to realize sales tax and for broadening of tax base.

    Sources in FBR said that sales tax registered persons would provide details of Computerized National Identity Card (CNIC) of buyers making purchases above Rs50,000.
    The registered persons will provide the details of CNIC through their monthly sales tax return that is due on March 18, 2020 for the month of February 2020.

    The FBR made it mandatory for sales tax registered persons to obtain CNIC details of unregistered buyers. In this regard an amendment was made to Section 23 of Sales Tax Act, 1990 through Finance Act, 2019.

    The condition was made mandatory on supplies from August 01, 2019. However, on the objections from stakeholders including small traders and shopkeepers the condition was deferred till January 31, 2020.

    The sources said that the sales tax registered persons are required to obtain CNIC details of buyers from February 01, 2020 and provide the same information to the FBR through monthly returns of February 2020, which is due on March 18, 2020.

    They said that the condition is not applicable on ordinary customers.

    For the purpose of this clause, ordinary consumer means a person who is buying the goods for his own consumption and not for the purpose of re-sale or processing.

    The sources said that in case seller was unable to obtain the CNIC information of buyer then in such case the registered person would be responsible.

    However, the FBR through Sales Tax General Order No. 106 dated October 04, 2019 issued clarification regarding CNIC condition.

    The FBR clarified that the CNIC/NTN of the buyer with respect to taxable supplies to an unregistered person shall be deemed to have been reported in good faith by the suppliers with conditions that the invoice should complies with statutory requirements.

    It is also mandatory that payment made by or on behalf of the unregistered purchaser of the amount of the tax invoice, inclusive of sales tax and applicable further tax, is deposited into the supplier’s declared business bank account.

    The CNIC provided by the purchaser is found authenticated by the National Data and Registration Authority (NADRA).

    The FBR also barred that CNIC/NTN provided was not of the employee of the seller or of his associates.

    The sources said that the tax authorities would impose penalty on registered persons on failure to comply with the requirement of obtaining CNIC.