KARACHI: The tax laws have empowered Commissioner of Inland to act as a court under the Code of Civil Procedure for compelling production of records of any person.
(more…)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.
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FBR devises strategy for survey of existing, new shopping centers to identify tax evaders
KARACHI: Federal Board of Revenue (FBR) is set to launch survey in existing and new shopping markets in Karachi for identifying tax evaders.
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Income Tax Ordinance 2001: Tax officials’ power to enter premises without notice
KARACHI: Tax officials have immense powers to enter any premises for the purpose of audit of a taxpayer or survey of a potential taxpayer.
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Procedure for obtaining sales tax registration
KARACHI: The Federal Board of Revenue (FBR) has introduced a streamlined procedure for sales tax registration, aiming to facilitate taxpayers engaged in making taxable supplies in Pakistan.
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Income Tax Ordinance 2001: Taxpayers require to keep 6-year tax record for audit
The Federal Board of Revenue (FBR) has recently introduced amendments to the Income Tax Ordinance, 2001, emphasizing the importance of maintaining accurate records by taxpayers.
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FBR issues tax directories of parliamentarians, companies and individuals
ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued tax directories of parliamentarians and general taxpayers including companies in order to public the information about contribution of different segments of taxpayers.
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Classes of taxpayers require sales tax registration
KARACHI: Federal Board of Revenue (FBR) has listed classes of taxpayers, who are required to get sales tax registration to declare their monthly transactions to the tax authorities.
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Income Tax Ordinance 2001: procedure for claiming refund, additional payment for delay
KARACHI: A commissioner of Inland Revenue is responsible for making payment at KIBOR plus 0.5 percent per annum for late payment of income tax refund.
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Income Tax Ordinance 2001: FTR taxpayers not required to file returns
The Federal Board of Revenue (FBR) in Pakistan has introduced a noteworthy amendment, providing substantial relief to taxpayers falling under the Final Tax Regime (FTR).
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FBR launches trial run for online payment through 18 banks
In a significant leap towards modernization and efficiency, the Federal Board of Revenue (FBR) has initiated a pilot run for the collection of duties and taxes through an online payment system in collaboration with 18 prominent banks.
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