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 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.

March 27, 2019
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.

March 27, 2019
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.

March 27, 2019
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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March 26, 2019
Income Tax Ordinance 2001: Corporate tax rate to be reduced to 25pc

The government of Pakistan has undertaken a strategic initiative to gradually reduce corporate income tax rates, aiming to bring them down to 25% by the tax year 2023 and onwards.
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March 26, 2019
FBR suspends customs officer

ISLAMABAD: Federal Board of Revenue (FBR) has suspended an officer Pakistan Customs Service (PCS) BS-16 while taking disciplinary action against him.

In a notification issued on Monday, the FBR while exercising powers under Government Servants (Efficiency & Discipline) Rules, 1973, suspended Mansab Shah, Inspector, BS-16, Model Customs Collectorate of Preventive, Lahore with immediate effect for a period of three months.

March 25, 2019

Tax rates for salary, business individuals

KARACHI: Following are the tax rates for individuals under First Schedule of Income Tax Ordinance, 2001.

The tax rate as updated through Finance Supplementary (Amendment) Act, 2018 to Income Tax Ordinance, 2001, issued by Federal Board of Revenue (FBR).

Rates of tax for individuals

(1) The rates of tax imposed on the taxable income of every individual, not being an individual to which paragraph (1A) of this Division applies, shall be as set out in the following table, namely:—

Table

S. No.	Taxable Income	Rate of Tax
01	Where the taxable income does not exceed Rs. 400,000	0 percent
02	Where the taxable income exceeds Rs. 400,000 but does not exceed Rs. 800,000	Rs1,000
03	Where the taxable income exceeds Rs. 800,000 but does not exceed Rs. 1,200,000	Rs2,000
04	Where the taxable income exceeds Rs.1,200,000 but does not exceed Rs. 2,400,000	5 percent of the amount exceeding Rs. 1,200,000
05	Where the taxable income exceeds Rs. 2,400,000 but does not exceed Rs. 3,000,000	60,000 + 15 percent of the amount exceeding Rs. 2,400,000
06	Where the taxable income exceeds Rs. 3,000,000 but does not exceed Rs. 4,000,000	150,000 + 20 percent of the amount exceeding Rs. 3,000,000
07	Where the taxable income exceeds Rs. 4,000,000 but does not exceed Rs. 5,000,000	350,000 + 25 percent of the amount exceeding Rs. 4,000,000
08	Where the taxable income exceeds Rs. 5,000,000	600,000 + 29 percent of the amount exceeding Rs. 5,000,000

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

Salary persons

(1A) Where the income of an individual chargeable under the head “salary” exceeds fifty per cent of his taxable income, the rates of tax to be applied shall be as set out in the following table, namely:—

Table

S.No.	Taxable Income	Rate of Tax
01	Where the taxable income does not exceed Rs. 400,000	0 percent
02	Where the taxable income exceeds Rs. 400,000 but does not exceed Rs. 800,000	Rs1,000
03	Where the taxable income exceeds Rs. 800,000 but does not exceed Rs. 1,200,000	Rs2,000
04	Where the taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,500,000	5 percent of the amount exceeding Rs. 1,200,000
05	Where the taxable income exceeds Rs.2,500,000 but does not exceed Rs. 4,000,000	65,000 + 15 percent of the amount exceeding Rs. 2,500,000
06	Where the taxable income exceeds Rs. 4,000,000 but does not exceed Rs. 8,000,000	290,000 + 20 percent of the amount exceeding Rs. 4,000,000
07	Where the taxable income exceeds Rs. 8,000,000	1,090,000 + 25 percent of the amount exceeding Rs. 8,000,000

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

March 25, 2019

FBR estimates Rs50 billion income tax loss from salary

The Federal Board of Revenue (FBR) has recently presented a comprehensive revenue position to the finance ministry, highlighting an estimated loss of Rs50 billion resulting from the downward revision of tax rates on salary income.
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March 24, 2019
Income Tax Ordinance 2001: advance tax on paying education fee abroad

KARACHI: Foreign exchange companies are responsible for collecting advance tax on remitting abroad the education related expenses.

The Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 under which Section 236R explained the advance tax on remitting amount abroad for education expenses.

Section 236R: Collection of advance tax on education related expenses remitted abroad

Sub-Section (1): There shall be collected advance tax at the rate specified in Division XXIIV of Part-IV of the First Schedule on the amount of education related expenses remitted abroad.

Rate of collection of tax under section 236R shall be 5percent of the amount of total education related expenses.

Sub-Section (2): Banks, financial institutions, foreign exchange companies or any other person responsible for remitting foreign currency abroad shall collect advance tax from the payer of education related expenses.

Sub-Section (3): Tax collected under this section shall be adjustable against the income of the person remitting payment of education related expenses.

Sub-Section (4): For the purpose of this section, “education related expenses” includes tuition fee, boarding and lodging expenses, any payment for distant learning to any institution or university in a foreign country and any other expense related or attributable to foreign education.

March 24, 2019
FBR holds awareness sessions for online payment of duty, taxes

In a proactive step towards modernizing tax procedures and enhancing ease of doing business, the Federal Board of Revenue (FBR) organized informative sessions in Karachi and Lahore for the business community and tax consultants.
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March 23, 2019