January 29, 2022

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Pakistan Revenue

Tag: Inland Revenue

IR intelligence conducts two raids against tax evasion
Sep 23
Taxation

IR intelligence conducts two raids against tax evasion

ISLAMABAD: The Intelligence and Investigation of Inland Revenue (IR) has conducted raids in Lahore and Multan against entities involved in tax evasion, said a statement issued by Federal Board of Revenue (FBR) on Thursday. In a drive to curb tax evasion, Directorate of Intelligence & Investigation, Inland Revenue (I&I-IR), Lahore conducted a raid on the […]

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Budget 2021/2022: Inquiry powers of Commissioner Inland Revenue withdrawn
Jun 12
Budget 2021-2022, Taxation

Budget 2021/2022: Inquiry powers of Commissioner Inland Revenue withdrawn

ISLAMABAD: The federal government has withdrawn the discretionary powers of conducing inquiry in certain tax matters by Commissioners Inland Revenue. Finance Minister Shaukat Tarin while presenting budget 2021/2022 on Friday announced curtailing the discretionary power of the tax authorities. He said that the discretionary powers of the income tax authorities are proposed to be curtailed: […]

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FBR starts harmonizing Inland Revenue codes to simplify tax laws
Mar 3
Taxation

FBR starts harmonizing Inland Revenue codes to simplify tax laws

ISLAMABAD: Federal Board of Revenue (FBR) has started harmonizing Inland Revenue codes in order to simplify and consolidate the tax laws, sources said on Wednesday. The harmonization of IR codes has been started under World Bank funded ‘Pakistan Raises Revenue Project’.  The FBR said that it had received financing from the World Bank towards the […]

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IR offices work on Saturday for collection target
Feb 26
Taxation

IR offices work on Saturday for collection target

ISLAMABAD: The offices of Inland Revenue shall observe Saturday February 27, 2021 as normal working day in order to achieve revenue collection target for the month. In a notification issued on Thursday, the FBR said that all Large Taxpayers Offices (LTOs), Medium Tax Office (MTO), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs) would […]

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Fake, flying invoices: IR intelligence unearths mega sales tax evasion
Sep 24
Taxation

Fake, flying invoices: IR intelligence unearths mega sales tax evasion

ISLAMABAD: The Directorate of Intelligence and Investigation, Inland Revenue, Faisalabad has unearthed huge sales tax evasion and arrested culprits for issuing fake and flying invoices. A spokesman of Federal Board of Revenue (FBR) on Wednesday said that I&I IR Faisalabad had arrested proprietor of M/s SAYTEX INTERNATIONAL, one of the major culprits running the racket […]

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Inland Revenue officers empowered to recover non-tax revenue
Aug 1
Taxation

Inland Revenue officers empowered to recover non-tax revenue

ISLAMABAD: The officers of Inland Revenue have been empowered to recover non-tax revenue by invoking provisions of Income Tax Ordinance, 2001. The finance ministry has issued Public Finance Management Act, 2019, which was amended up to June 30, 2020 through Finance Act, 2020. According to Section 40E of the Act, a commissioner of Inland Revenue […]

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IR barred from arresting women on tax default
Dec 22
Taxation

IR barred from arresting women on tax default

KARACHI: The offices of Inland Revenue are prohibited for arresting women on charge of tax default. Besides, the offices also cannot arrest a minor. According to Income Tax Rules, 2002 there is prohibition against arrest of woman or minor. The commissioner of Inland Revenue shall not order the arrest or detention in the civil prison […]

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