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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 issues withholding tax rates on registration of motor vehicles

    FBR issues withholding tax rates on registration of motor vehicles

    ISLAMABAD: Federal Board of Revenue (FBR) has issued updated withholding tax rates on registration of new motor vehicles effective from July 01, 2019.

    The FBR said that motor vehicle registration authorities are required to collect/deduct advance tax on private motor vehicles under Section 231B of Income Tax Ordinance, 2001 at the time of registration of new motor vehicles from persons getting new locally manufactured motor vehicles in their name.

    Following are the withholding tax rates for registration of new motor vehicles under Section 231B(1):

    Engine capacityTax RatePersons not appearing on ATL*
    Up to 850CCRs7,500Rs15,000
    851CC to 1000CCRs15,000Rs30,000
    1001CC to 1300CCRs25,000Rs50,000
    1301CC to 1600CCRs50,000Rs100,000
    1601CC to 1800CCRs75,000Rs150,000
    1801CC to 2000CCRs100,000Rs200,000
    2001CC to 2500CCRs150,000Rs300,000
    2501CC to 3000CCRs200,000Rs400,000
    Above 3000CCRs250,000Rs500,000

    ** Persons not appearing in the Active Taxpayers List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule of the Income Tax Ordinance, 2001.

    The FBR said that under Section 231B(1A) every leasing company, scheduled bank, investment bank, development finance institution, Modarba (Sharia Compliant or under conventional mode) shall collect four percent of the value of motor vehicles at the time of lease from persons not appearing in the ATL.

    The FBR said that under Section 231B(2) the motor vehicle registration authority shall collect withholding tax from person transferring the ownership/registration at the time of transfer:

    Engine capacityTax RatePersons not appearing on ATL*
    Up to 850CCRs0Rs0
    851CC to 1000CCRs5,000Rs10,000
    1001CC to 1300CCRs7,500Rs15,000
    1301CC to 1600CCRs12,500Rs25,000
    1601CC to 1800CCRs18,750Rs37,500
    1801CC to 2000CCRs25,000Rs50,000
    2001CC to 2500CCRs37,500Rs75,000
    2501CC to 3000CCRs50,000Rs100,000
    Above 3000CCRs62,500Rs125,000

    ** Persons not appearing in the Active Taxpayers List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule of the Income Tax Ordinance, 2001.

    The FBR said that under Section 231B(3) every manufacturer of motor vehicle shall collect withholding tax from purchaser at the time of sale of vehicle at the following tax rates:

    Engine capacityTax RatePersons not appearing on ATL*
    Up to 850CCRs7,500Rs15,000
    851CC to 1000CCRs15,000Rs30,000
    1001CC to 1300CCRs25,000Rs50,000
    1301CC to 1600CCRs50,000Rs100,000
    1601CC to 1800CCRs75,000Rs150,000
    1801CC to 2000CCRs100,000Rs200,000
    2001CC to 2500CCRs150,000Rs300,000
    2501CC to 3000CCRs200,000Rs400,000
    Above 3000CCRs250,000Rs500,000

    ** Persons not appearing in the Active Taxpayers List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule of the Income Tax Ordinance, 2001.

  • FBR transfers 23 inspectors to speed up action against Benami assets

    FBR transfers 23 inspectors to speed up action against Benami assets

    ISLAMABAD: Federal Board of Revenue (FBR) has transferred 23 inspectors of Inland Revenue to newly established Benami zones in three major cities in order to speed up action against Benami assets.

    According to a notification issued on Thursday the FBR transferred and posted following inspectors of BS-16 with immediate effect until further orders:

    01. Muhammad Jahangir has been transferred from LTU Islamabad to Benami Zone, Islamabad.

    02. Muhammad Afzal Khan has been transferred from RTO Islamabad to Benami Zone, Islamabad.

    03. Ms. Tahmina Bibi has been transferred from RTO Islamabad to Benami Zone, Islamabad.

    04. Khawaja Muhammad Zaheer has been transferred from RTO Islamabad to Benami Zone, Islamabad.

    05. Ms. Tabassum Baig has been transferred from RTO Islamabad to Benami Zone, Islamabad.

    06. Osama Idrees has been transferred from RTO Rawalpindi to Benami Zone, Islamabad.

    07. Ms. Sobia Idrees has been transferred from CRTO Lahore to Benami Zone, Lahore.

    08. Syed Muhammad Zulqarnain Shah has been transferred from LTU Lahore to Benami Zone, Lahore.

    09. Muhamamd Usman has been transferred from LTU Lahore to Benami Zone, Lahore.

    10. Shahbaz Amir Ali has been transferred from RTO-II Lahore to Benami Zone, Lahore.

    11. Muhammad Hamza has been transferred from RTO-II Lahore to Benami Zone, Lahore.

    12. Ms. Mah-e-No Mirza has been transferred from RTO-II Lahore to Benami Zone, Lahore.

    13. Muhammad Ahmad Asghar has been transferred from RTO-II Lahore to Benami Zone, Lahore.

    14. Rana Muhammad Awais has been transferred from RTO-II Lahore to Benami Zone, Lahore.

    15. Ms. Nazia Ghazal has been transferred from RTO-II Lahore to Benami Zone, Lahore.

    16. Mehraj Ahamad has been transferred from CRTO Karachi to Benami Zone, Karachi.

    17. Suhail Ahmad has been transferred from CRTO Karachi to Benami Zone, Karachi.

    18. Kamran Taj has been transferred from RTO-II Karachi to Benami Zone, Karachi.

    19. Muhammad Umair Shaikh has been transferred from RTO-II Karachi to Benami Zone, Karachi.

    20. Dileep Kumar has been transferred from LTU Karachi to Benami Zone, Karachi.

    21. Mansoor Farhad has been transferred from RTO-III Karachi to Benami Zone, Karachi.

    22. Muhammad Ilyas has been transferred from CRTO Karachi to Benami Zone, Karachi.

    23. Amit Kumar has been transferred from RTO-II Karachi to Benami Zone, Karachi.

  • FBR issues rules for filing biannual withholding statement

    FBR issues rules for filing biannual withholding statement

    ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified amendments to Income Tax Rules, 2002 under which withholding agents are required to file withholding statements biannually instead monthly.

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  • Comparison of new and old FBR valuations of immovable properties in Karachi

    Comparison of new and old FBR valuations of immovable properties in Karachi

    ISLAMABAD: Federal Board of Revenue (FBR) has revised valuation of immovable properties for various cities of the country in order to boost revenue collection.

    The FBR announced significant increase in valuation of immovable properties in Karachi. In order to calculate the changes in old and new valuation for the purpose of withholding tax rate following are the valuation tables:

  • FBR decides to promote data entry operators

    FBR decides to promote data entry operators

    ISLAMABAD: Federal Board of Revenue (FBR) has decided to promote Data Entry Operators (DEOs) BS-12 to Management Information System (MIS) Officers BS-16 in the upcoming meeting of departmental promotion committee (DPC).

    In this regard the FBR on Tuesday directed 1 to 150 DEOs in final seniority list to complete their PERs for the last five years up to June 30, 2019, which should be submitted to the FBR by July 31, 2019.

    Besides, following information/documents should also be furnished in respect to the concerned DEOs, the FBR said in an office order addressing to heads of departments of Inland Revenue.

    The FBR required following details from the heads of departments:

    Certificate to the effect that no disciplinary / criminal case is pending against the official and that he is not the beneficiary of NRO 2007.

    Details of disciplinary proceedings in progress/pending, if any.

    Details of penalties imposed upon the official, if any, during last five years.

  • FBR issues revised valuation of immovable properties for 20 cities

    FBR issues revised valuation of immovable properties for 20 cities

    ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued notifications for implementing enhanced valuation of immovable properties in 20 major cities.

    The new valuations will be applicable from July 24, 2019.

    Following are the new valuation for 20 cities:

    (1) Abbottabad SRO 829(I)/2019

    (2) Bahawalpur SRO 830(I)/2019

    (3) Faisalabad SRO 831(I)/2019

    (4) Gujranwala SRO 846(I)/2019

    (5) Gujrat SRO 832(I)/2019

    (6) Gwadar SRO 848(I)/2019

    (7) Hyderabad SRO 833(I)/2019

    (8) Islamabad SRO 834(I)/2019

    (9) Jhang SRO 835(I)/2019

    (10) Jhelum SRO 836 (I)/2019

    (11) Karachi SRO 837(I)/2019

    (12) Lahore SRO 838(I)/2019

    (13) Mardan SRO 839(I)/2019

    (14) Multan SRO 840(I)/2019

    (15) Peshawar SRO 841(I)/2019

    (16) Quetta SRO 842(I)/2019

    (17) Rawalpindi SRO 843(I)/2019

    (18) Sahiwal SRO 844(I)/2019

    (19) Sargodha SRO 445(I)2019

    (20) Sukkur SRO 847(I)/2019

  • FBR issues withholding tax rates for winning prize bonds

    FBR issues withholding tax rates for winning prize bonds

    KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates for winning prize bonds, cross word, raffle, lottery and quiz for tax year 2019/2020 as effective from July 01, 2019.

    The FBR said that every person making payment shall collect withholding tax from persons on active taxpayers list (ATL) and double the amount of the tax from persons not appearing on the ATL at the time the prize or winning were actually paid.

    The collection of withholding tax under Section 156 of Income Tax Ordinance, 2001 shall be final.

    The withholding tax shall be collected at the following rates:

    (I) Payments made for prize on quiz bond and cross word the tax rate shall be 15 percent of the gross amount.

    Persons not appearing in the Active Taxpayers’ List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule to the Ordinance), i.e. 30 percent of the gross amount.

    (II) Payments on winning from a raffle, lottery, prize on winning a quiz, prize, offered by companies for promotion of sale crossword puzzles the tax rate shall be 20 percent of the gross amount.

    Persons not appearing in the Active Taxpayers’ List: The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule to the Ordinance), i.e. 40 percent of the gross amount.

  • FBR directs banks to provide details of Benami account holders in 15 days

    FBR directs banks to provide details of Benami account holders in 15 days

    ISLAMABAD: Federal Board of Revenue (FBR) has directed all the banks to provide details of Benami account holders within next 15 days.

    FBR spokesman on Monday said that FBR chairman Shabbar Zaidi had sent communication to all the heads of banks asking them to provide details of Benami accounts.

    The spokesman said that the FBR desired the banks should obtain details of Benami account holders themselves under Benami Act 2017. “The FBR does not want to make direct contact with account holders,” the spokesman said.

    The chairman referred My 30, 2019 meeting with the heads of banks in which it was decided that the banks would arrange details of Banami bank accounts.

    The chairman assured the banks that the details would be kept secret. The spokesman further said that the FBR had authorized to identify Benami holders under the Benami Act, 2017.

    The chairman further desired that FBR and banks should work together to get optimum results. The chairman said that to identify the Benami bank account holders the banks cooperation was very important.

  • Female consumers can present CNIC of husband, father for purchase above Rs50,000: FBR

    Female consumers can present CNIC of husband, father for purchase above Rs50,000: FBR

    ISLAMABAD, February 20, 2024 – The Federal Board of Revenue (FBR) has issued a clarification stating that female consumers can present the CNIC of their husband or father when making purchases above Rs50,000.

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  • FBR issues withholding tax rates for sale, purchase of immovable properties

    FBR issues withholding tax rates for sale, purchase of immovable properties

    KARACHI: Federal Board of Revenue (FBR) has notified withholding tax rate for active and non-active taxpayers at the time of sale and purchase of immovable properties as amended through Finance Act, 2019 and applicable from July 01, 2019.

    The FBR said that every person registering, recording or attesting or transfer including local authorities, housing authorities, housing society cooperative society and registrar or properties shall collect withholding tax under Section 236C of Income Tax Ordinance, 2001 from seller of immovable
    property at the time of registering, recording or attesting the transfer.

    The withholding tax rate shall be one percent of gross amount of the considering received in case of active taxpayer, who filed their income tax return within due date.

    Persons not appearing in the Active Taxpayers’ List : The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule to the
    Ordinance), i.e 2 percent of the gross amount of the consideration received.

    The tax shall be minimum tax if property is acquired and disposed off within the same tax year; Otherwise adjustable.

    Advance tax, under this section, is not be collected if the immovable property is held for a period exceeding five25 years.

    The FBR said that every person registering, recording or attesting or Transfer including local authorities, housing authorities, Housing Society, Co-operative Society and registrar or properties shall collect adjustable withholding tax from the purchaser of immovable properties at the time of registering, recording of immovable properties under Section 236K of Income Tax Ordinance, 2001.

    Under Section 236K(1) the tax rate shall be one percent of the fair market value for active taxpayers.

    Persons not appearing in the Active Taxpayers’ List : The applicable tax rate is to be increased by 100% (Rule-1 of Tenth Schedule to the Ordinance), i.e 2 percent of the fair market value.

    Advance Tax on payment of installment in respect of purchase of allotment of immovable property where transfer is to be effected after making payment of all installments Under Section 236K (3) the tax rate shall be one percent of the fair market value.

    Persons not appearing in the Active Taxpayers’ List : The applicable tax rate is to be increased by 100 percent (Rule-1 of Tenth Schedule to the Ordinance), i.e 2 percent of the fair market value.