ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday said that all the offices of Inland Revenue (IR) will work on Saturdays to meet the revenue collection target. The FBR in an official memo said that in order to enhance the efforts to meet the revenue target for the current financial year 2021/2022, all field […]
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 […]
ISLAMABAD: The federal government has withdrawn the discretionary powers of conducing inquiry in certain tax matters by Commissioners Inland Revenue.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: […]
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 […]
ISLAMABAD: Member Inland Revenue (Operations) will directly receive complaints against corruption in order to provide secure channel of lodging complaints and in this regard SOP has been devised for handling of complaints. The Circular No. 10 of 2021 – Operations issued on Monday, stated that in order to allay the fears of business community and […]
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 […]
KARACHI: The office of Inland Revenue (IR) of Federal Board of Revenue (FBR) has launched examination of persons who purchased large number of vehicles through customs auctions. Sources in IR said on Monday that the probe had been initiated on the directives of the Federal Tax Ombudsman (FTO) regarding some bidders were frequently indulged in […]
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 […]
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 […]
ISLAMABAD: The offices of Inland Revenue have been directed to observe extended working hours on last two days of current fiscal year in order to facilitate taxpayers in payment of duty and taxes. In an office order issued on Monday, the Federal Board of Revenue (FBR) said that all Large Taxpayers Units (LTUs), Corporate Regional […]