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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.

  • Income Tax Ordinance 2001: Income from pension funds tax exempted

    Income Tax Ordinance 2001: Income from pension funds tax exempted

    KARACHI: The government has allowed tax exemption to the income derived by pensioners invested in various schemes, including pension funds.

    The Second Schedule of Income Tax Ordinance, 2001 allowed tax exemption to the income derived by pensioners.

    The following exemptions are available to the pensioners:

    Any payment from a provident fund to which the Provident Funds Act, 1925 applies.

    The accumulated balance due and becoming payable to an employee participating in a recognized provident fund.

    The accumulated balance up to 50 percent received from the voluntary pension system offered by a pension fund manager under the Voluntary Pension System Rules, 2005 at the time of eligible person’s-

    (a) retirement; or

    (b) disability rendering him unable to work.

    The amounts received as monthly installment from an income payment plan invested out of the accumulated balance of an individual pension accounts with a pension fund manager or an approved annuity plan or another individual pension account of eligible person or the survivors pension account maintained with any other pension fund manager as specified in the Voluntary Pension System Rules 2005 shall be exempt from tax provided accumulated balance is invested for a period of ten years:

    Provided that where any amount is exempted under this clause and subsequently it is discovered, on the basis of documents or otherwise, by the Commissioner that any of the conditions specified in this clause were not fulfilled, the exemption originally allowed shall be deemed to have been wrongly allowed and the Commissioner may, notwithstanding anything contained in this Ordinance, re-compute the tax payable by the taxpayer for the relevant years and the provisions of this Ordinance shall, so far as may be, apply accordingly.

    Any withdrawal of accumulated balance from approved pension fund that represent the transfer of balance of approved provident fund to the said approved pension fund under the Voluntary Pension System Rules , 2005.

    Any benevolent grant paid from the Benevolent Fund to the employees or members of their families in accordance with the provisions of the Central Employee Benevolent Fund and Group Insurance Act, 1969.

    Any payment from an approved superannuation fund made on the death of a beneficiary or in lieu of or in commutation of any annuity, or by way of refund of contribution on the death of a beneficiary.

    Any income of a person representing the sums received by him as a worker from out of the Workers Participation Fund established under the Companies Profits (Workers Participation) Act, 1968.

  • FBR temporarily halts raids on tax evaders

    FBR temporarily halts raids on tax evaders

    ISLAMABAD: Federal Board of Revenue (FBR) has temporarily halted raids on tax evaders on assurance of business community.

    The FBR has given an opportunity to non-compliant taxpayers to declare their income and assets by filing annual returns up to March 31.

    At a media briefing on Thursday, Member Inland Revenue (Poilcy) Doctor Hamid Ateeq Sarwar and Member Inland Revenue (Operations) said that the FBR stopped the recovery campaign for fifteen days.

    The members said that the raids have been suspended as a good gesture on the request of the business community.

    Chambers and trade bodies have assured their cooperation in recovery of due amount of taxes from business community.

    Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and other business community had raised the issue of raids by tax offices during recent visit of FBR chairman Mohammad Jehanzeb Khan to Karachi.

    Member IR Operations Seema Shakil confirmed the issuance of notice to former president Asif Ali Zardari. She said that relevant office in Karachi which is dealing the case.

  • FBR notifies transfers, postings of IRS officers of BS-16-19

    FBR notifies transfers, postings of IRS officers of BS-16-19

    ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified transfers and postings of Inland Revenue Service (IRS) officers of BS-16 to BS-19 with immediate effect until further orders.

    Following officers have been notified under the transfers and postings:

    01. Abdur Razzaq Khan (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, Sahiwal.

    02. Ms. Kehkshan Khan (Inland Revenue Service/BS-18) on promotion has been transferred and posted as Additional Commissioner Inland Revenue Large Taxpayers Unit, Lahore.

    03. Ms. Rukhsana Arif (Inland Revenue Service/BS-18) on promotion has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office II, Lahore.

    04. Ghulam Hussain (Inland Revenue Service/BS-18) on promotion has been transferred and posted as Additional Commissioner Inland Revenue Regional Tax Office, Bahawalpur.

    05. Ms. Amra Sarwar (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Lahore from the post of Deputy Commissioner, Corporate Regional Tax Office, Lahore.

    06. Asad Aziz (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Sargodha from the post of Deputy Commissioner, Regional Tax Office, Sargodha.

    07. Ms. Saba Rehmat (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Islamabad from the post of Deputy Director, Directorate of Immovable Property (North), Islamabad.

    08. Karim Baksh Bughio (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, (AEOI Zone) Large Taxpayers Unit, Karachi.

    09. Mrs. Saima Kenan Khan (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Peshawar from the post of Deputy Director, Addl. Directorate of Internal Audit (Inland Revenue), Peshawar.

    10. Husnain Ahmad Hali (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office II, Lahore from the post of Deputy Commissioner, (IR) Regional Tax Office II, Lahore.

    11. Kashif Hafeez (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    12. Inayat Malik (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Large Taxpayers Unit, Islamabad.

    13. Akhtar Abbas (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office II, Lahore from the post of Deputy Director, Directorate of Intelligence & Investigation (Inland Revenue), Lahore.

    14. Jamil Ahmad (Inland Revenue Service/BS-18) has been transferred and posted as Additional Director, (On acting charge) Directorate of Intelligence & Investigation (Inland Revenue), Karachi from the post of Deputy Director, (IR) Directorate of Intelligence & Investigation (Inland Revenue), Karachi.

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

    16. Kamran Ullah (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Regional Tax Office, Rawalpindi from the post of Deputy Director, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad.

    17. Laiq Zaman (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit-II, Karachi.

    18. Naseebullah (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    19. Naseer Ahmed (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Corporate Regional Tax Office, Karachi from the post of Deputy Commissioner, Corporate Regional Tax Office, Karachi.

    20. Muhammad Sajid Ahmad (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Lahore from the post of Deputy Commissioner, Large Taxpayers Unit, Lahore.

    21. Syed Zubair Shah (Inland Revenue Service/BS-18) has been transferred and posted as Additional Commissioner Inland Revenue (On acting charge) Large Taxpayers Unit, Islamabad from the post of Deputy Commissioner, Regional Tax Office, Abbottabad.

    22. Asif Jamali (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.

    23. Amjad Ali Moroojo (AOST/BS-18) has been transferred and posted as Assistant Director (Audit), Large Taxpayers Unit, Karachi from the post of Assistant Director (Audit), Large Taxpayers Unit-II, Karachi.

    24. Muhammad Kashif Khan (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, Large Taxpayers Unit, Karachi.

    25. Asif Nazir (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.

    26. Rabnawaz Ahmad Matiana (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue (BTB) Regional Tax Office II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    27. Danish Qamar (Inland Revenue Service/BS-17) has been transferred and posted as Deputy Commissioner Inland Revenue Large Taxpayers Unit-II, Karachi from the post of Deputy Commissioner, Large Taxpayers Unit, Karachi.

    28. Tanvir Muhammad Niaz (Inland Revenue Service/BS-17) has been transferred and posted as Assistant Commissioner (Prob) Inland Revenue Regional Tax Office, Islamabad from the post of Assistant Commissioner (Prob), Regional Tax Office, Rawalpindi.

    29. Syed M. Ghazanffar (Sales Tax Department/BS-16) has been transferred and posted as Senior Auditor, Large Taxpayers Unit-II, Karachi from the post of Senior Auditor, Large Taxpayers Unit, 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.

  • No change in tax rates on cash withdrawal: FBR

    No change in tax rates on cash withdrawal: FBR

    ISLAMABAD: Federal Board of Revenue (FBR) has said that the government has not revised rates or limits of withholding tax on cash withdrawal from banks.

    In a statement on Thursday, the FBR said that the federal government has not revised rates or limits for tax on cash withdrawal from bank accounts under section 231A and on issuance of cash denominated bank instruments such as pay orders and demand drafts under section 231AA of Income Tax Ordinance 2001.

    The FBR spokesperson has strongly refuted such news appearing on some sections of media

    There has been no change in cash limits or tax rates in any of the two provisions of law.

    The only change which has been made through Finance 2nd Supplementary Act 2019 is taking out the tax filers from the scope of both these provisions.

    Now these withholding provisions are applicable only to non-filers, the spokesperson has further clarified.

    The spokesperson added that this huge concessionary step has been taken by the Government to encourage commercial activity through banking channels which needs to be appreciated.

  • FBR transfers customs officers of BS-18-19

    FBR transfers customs officers of BS-18-19

    ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday issued a notification regarding the transfers and postings of BS-18 and BS-19 officers of the Pakistan Customs Service (PCS).

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  • FBR facilitates return filing on weekly holidays

    FBR facilitates return filing on weekly holidays

    ISLAMABAD: Federal Board of Revenue (FBR) has made special arrangements for income tax return filing on the last two days of this month falling on Saturday and Sunday (March 30 & 31), which are also last two days for filing deadline.

    The FBR directed all Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) to remain open and observe extended working hours till 10:00pm on Saturday March 30 and till 12:00 mid-night on Sunday March 31 to facilitate the taxpayers in payment of duty and taxes.

    The FBR has extended the last date for filing income tax returns for tax year 2018 and March 31 is the last date for filing returns.

    The FBR’s facilitation has been aimed to provide maximum support to taxpayers in fulfilling their liabilities.

    The FBR directed chief commissioners to establish liaison with State Bank of Pakistan (SBP) and authorized branches of National Bank of Pakistan (NBP) to ensure transfer of tax collection by these branches to the respective branches of SBP on the same date so as to account for the same towards the collection for the month of March 2019.

  • FBR notifies promotion of 20 IRS officers to BS-19

    FBR notifies promotion of 20 IRS officers to BS-19

    ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified promotion of 20 Inland Revenue Service (IRS) officers to BS-19 from BS-18 with immediate effect.

    The following BS-18 officers of Inland Revenue Service are promoted to

    BS-19 on regular basis with immediate effect :-

    1. Ms. Kehkshan Khan

    2. Mr. Tanveer Iqbal

    3. Mr. Rais Humayun Abdul Hayee

    4. Mr. Mukhtiar Ahmad Shar

    5. Syed Arsalan Qudus Bukhari

    6. Ms. Rukhsana Arif

    7. Mr. Muhammad Umer Yunus

    8. Mr. Riaz Khan

    9. Mr. Muhammad Qasswar Hussain

    10. Mr. Naheed Ahmad

    11. Mr. Bilal Ahmed

    12. Ms. Saher Aftab Butt

    13. Mr. Muhammad Shakil Anwar

    14. Mr. Ghulam Hussain

    15. Mr. Usman Ahmed Khan

    16. Mr. Sultan Muhammad Nawaz Nasir

    17. Ms. Huma Sarwar

    18. Mr. Bahader Sher Afridi

    19. Mr. Amanullah Virk

    20. Ms. Ayesha Ranjha

    The officers at Sr. Nos. 03, 13, 19 & 20 will actualize their promotion from the date of their return from deputation and join FBR (HQ), Islamabad. 3. The officer at Sr. No. 01 is recommended for promotion to BS-19 on probation

    for one year under Rule 6(2) of Civil Servants (APT) Rules, 1973 and subject to two special reports after every six months each from the date of her promotion.

    The officer at Sr. No. 09 is promoted subject to completion of satisfactory PERs, without any adverse entry/remarks, for the period 25-11-2017 to 30-06-2018. 5. The officers who are drawing performance allowance will continue to draw the same after regular promotion to BS-19.

    The officers already working in OPS as Additional Commissioner/Additional

    Director/Secretary FBR (HQ), Islamabad will actualize their promotion against the present place of posting.

    For actualization of promotion of the remaining officers, transfer/ posting

    order will be issued separately.

    FBR congratulates the aforementioned officers on their regular promotion

    to BS-19.

  • FBR promotes Customs officers to BS-19

    FBR promotes Customs officers to BS-19

    ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday announced promotion of Pakistan Customs Service (PCS) officers from BS-18 to BS-19 with immediate effect.

    Following officers have been promoted on regular basis with immediate effect :-

    1. Nawabzadi Aliya Dilawar Khanji

    2. Dr. Salamat Ali

    3. Ahmad Affan

    4. Muhammad Ali Malik

    5. Tahir Abbas

    6. Kamran Ali Rana

    7. Ansir Anise

    8. Riaz Hussain

    9. Tahir Habib Cheema

    10. Saleha Zakir Shah

    11. Saima Ayyaz

    12. Kanwal Ali

    13. Aftab Ullah Shah

    14. Ali Zeb Khan

    15. Naveed Abbas Memon

    16. Imran Razzaq

    The FBR said the officers at Sr. No. 1, 6 & 7 are promoted to BS-19 on probation for one year under Rule 6(2) of Civil Servants (APT) Rules, 1973 and subject to two special reports after every

    six months from the date of their promotion.

    The officers, who are drawing performance allowance, will continue to draw the same after promotion.

    The officers appearing at Serial No. 5,7 & 9 will actualize their promotion from the date they return from deputation and join FBR.

    The officers mentioned at Sr. No. 1, 2 & 3 may actualize their promotion against their present places of posting in BS-19.

  • FBR freezes 4,000 bank accounts for arrears recovery

    FBR freezes 4,000 bank accounts for arrears recovery

    KARACHI: Federal Board of Revenue (FBR) has frozen around 4,000 bank accounts of tax defaulters in a major crackdown, according to media reports on Tuesday.

    These bank accounts have been attached during last three months to recover outstanding amount from tax defaulters.

    In the major action against tax defaulters the FBR recovered around Rs8.2 billion through various means provided under income tax laws.

    Besides freezing bank accounts, the FBR also attached 78 immovable properties and 46 vehicles for the recovery.

    Further, about nine people were arrested in this recovery drive. The arrests have been made each in Faisalabad and Peshawar. Further, warrants for arrest in two cases have been issued.

  • FBR notifies promotion of IRS officers to BS-22

    FBR notifies promotion of IRS officers to BS-22

    ISLAMABAD – In a significant development, the Federal Board of Revenue (FBR) announced the promotions of two distinguished officers from the Inland Revenue Service (IRS) to the coveted BS-22 rank.

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