Penalty amount revised for late filing income tax returns

Jun 18

Budget 2022-2023, Taxation

Penalty amount revised for late filing income tax returns

ISLAMABAD: Penalty amount has been revised for filing income tax returns after due date. The Finance Bill, 2022 proposed revision in penalty amount for late filing of income tax returns by salaried persons and other taxpayers. The government presented federal budget 2022/2023 on June 10, 2022 and proposed various amendments to tax laws for ensure […]

by Faisal Shahnawaz

FBR to disable mobile SIMs on non-filing of tax returns

Jun 12

Budget 2022-2023, Taxation

FBR to disable mobile SIMs on non-filing of tax returns

ISLAMABAD: Finance Bill 2022 has proposed to empower Federal Board of Revenue (FBR) to disable mobile phone SIMs of non-filers of annual tax return. Besides, it is also proposed to empower the FBR to disconnect connections of electricity and gas of non-filers. READ MORE: Pakistan amends tax laws to legalize money transfers The amendment has […]

by Mrs. Anjum Shahnawaz

SITE Association signs MoU for tax return filing

Dec 9

Taxation, Trade & Industry

SITE Association signs MoU for tax return filing

KARACHI: SITE Association of Industry has signed a Memorandum of Understanding (MoU) with Befiler for facilitating its members and their employees in tax filing, and related business services for promoting compliance culture among its member organizations. Patron-in-Chief of SITE Association, Muhammad Zubair Motiwala graced the signing ceremony with his presence. Abdul Rasheed, President, SITE Association […]

by Faisal Shahnawaz

Non-filing penalty of each day default implements

Oct 16

Taxation

Non-filing penalty of each day default implements

ISLAMABAD: A penalty of Rs1,000 each day of default has been implemented from Saturday after the expiry of return filing date on October 15, 2021.

by Faisal Shahnawaz

Only 2.6M returns amid putting taxpayers’ money on ads

Oct 16

Taxation

Only 2.6M returns amid putting taxpayers’ money on ads

The Federal Board of Revenue (FBR) in Pakistan has faced a shortfall in tax return submissions for the tax year 2021, despite significant spending on advertising and media campaigns aimed at encouraging taxpayers.

by Hamza Shahnawaz

Hopes for further return filing date extension

Oct 15

Taxation

Hopes for further return filing date extension

ISLAMABAD: Today October 15, 2021 is the last date for filing return or income for tax year 2021. However, a large number persons still require to file their returns. They hope the FBR may further extend the last date beyond October 15, 2021.

by Hamza Shahnawaz

Facilitating return filing: IR offices to work late hours

Oct 14

Taxation

Facilitating return filing: IR offices to work late hours

For facilitating return filing, the Federal Board of Revenue (FBR) has directed the offices of Inland Revenue (IR) to work late hours. The offices will remain open until 12:00 midnight on October 15, 2021, to accommodate individuals and businesses in their efforts to fulfill their tax obligations.

by Faisal Shahnawaz

FBR warns of penalties amid filers grievances

Oct 14

Taxation

FBR warns of penalties amid filers grievances

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday warned non-filers of harsh action including monetary penalty and imprisonment. In a statement, a FBR spokesman said that the last date for filing income tax return for tax year 2021 is October 15, 2021 and it will not be further extended. The actual last date for […]

by Faisal Shahnawaz

Taxpayers urged to file tax returns by October 15

Oct 9

Taxation

Taxpayers urged to file tax returns by October 15

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday urged the taxpayers to avail extended date and file their returns for tax year 2021 by October 15, 2021. In a statement the FBR once again urged all the taxpayers, both old and new, to make the most of one-time extension of 15 days granted for […]

by Faisal Shahnawaz

FBR receives 1.86 million tax returns for TY2021

Oct 9

Taxation

FBR receives 1.86 million tax returns for TY2021

ISLAMABAD: The Federal Board of Revenue (FBR) has received 1.86 million returns of income for tax year 2021 up to September 30, 2021. This was disclosed at a meeting of Board-in-Council held recently. The Board-in-Council meeting appreciated the comprehensive print and electronic media campaign launched by the FATE Wing which helped FBR receive massive number […]

by Faisal Shahnawaz