Sep 27

PTBA identifies ambiguity in property value declaration

Pakistan Tax Bar Association (PTBA) on Tuesday identified ambiguity in declaring of immovable property in income tax return filing. PTBA President Rana Munir Hussain in a letter to the chairman of Federal Board of Revenue (FBR) stated that the apex tax bar had received several representations from the members of different affiliated tax bars across […]

by Anjum Shah

PTBA suggests measures to resolve refund adjustment ahead return filing deadline

Sep 25

Taxation, Top stories

PTBA suggests measures to resolve refund adjustment ahead return filing deadline

Pakistan Tax Bar Association (PTBA) has suggested measures to tax authorities to resolve the issue of refund adjustment just ahead of the deadline to file income tax return tax year 2022. It is important to note that the last date for filing income tax return is September 30, 2022. READ MORE: Penalties for failure to […]

by Hamza Shah

FBR advised to fix glitches for smooth filing of income tax returns

Sep 20

Taxation, Top stories

FBR advised to fix glitches for smooth filing of income tax returns

Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to fix glitches in Iris portal for smooth return filing for tax year 2022. In a letter sent to FBR chairman, the PTBA advised that the taxpayers should be provided the statutory period of clear 90 days for submission of their income […]

by Faisal Shah

Tax Return becomes invalid on depriving refund adjustment: PTBA

Aug 25

Taxation, Top stories

Tax Return becomes invalid on depriving refund adjustment: PTBA

KARACHI: Pakistan Tax Bar Association (PTBA) has declared that deletion of column to deny refund adjustment made the income tax return invalid. In a letter sent to Asim Ahmed, Chairman, Federal Board of Revenue (FBR) on Thursday, the PTBA apprised about the burning issue due to which the legal fraternity, taxpayers and other stake holders […]

by Hamza Shah

Glitches mar filing of national sales tax return

Feb 15

Taxation

Glitches mar filing of national sales tax return

LAHORE: The Federal Board of Revenue (FBR) has failed to rectify errors in national sales tax form as large number of taxpayers unable discharge their liabilities. Pakistan Tax Bar Association (PTBA) in a letter to the chairman of Federal Board of Revenue (FBR) highlighted the issues in the national sales tax return and demanded to […]

by Faisal Shah

PTBA demands date extension for filing sales tax return

Feb 1

Taxation

PTBA demands date extension for filing sales tax return

ISLAMABAD: Pakistan Tax Bar Association (PTBA) on Tuesday demanded the tax authorities to extend the last date for filing sales tax return for the month of December 2021 because taxpayers have failed to make compliance due to technical issues on the IRIS portal. The PTBA in a letter to the chairman of Federal Board of […]

by Anjum Shah

PTBA criticizes third-party audit of taxpayers

Jan 28

Taxation

PTBA criticizes third-party audit of taxpayers

Pakistan Tax Bar Association (PTBA) has expressed concerns over decisions of the authorities to conduct audit of taxpayers through external auditors. In a statement, the apex tax bar of the country, expressed concerns over the decision taken by the Federal Board of Revenue (FBR) regarding the assignment of cases of Income Tax, Sales Tax and […]

by Anjum Shah

Dec 4

Taxation

PTBA highlights taxation problem of NPOs, Trust

KARACHI: Pakistan Tax Bar Association (PTBA) has highlighted problems faced by Non-Profit Organizations (NPOs) and Trust in changing their status as envisaged under Income Tax Ordinance, 2001. The PTBA said on Saturday it has sent a letter to the chairman of the Federal Board of Revenue (FBR) in this regard. The tax bar pointed out […]

by Faisal Shah

FBR defers digital payment provision for one month

Nov 1

Taxation, Top stories

FBR defers digital payment provision for one month

ISLAMABAD: The Federal Board of Revenue (FBR) has deferred the implementation of a digital mode of payment for one month. The digital mode of payment has been made mandatory for the corporate sector, which was to be implemented from November 01, 2021. The FBR issued Circular No. 09 of 2021-22 on Monday to allow an […]

by Anjum Shah

PTBA declares implementing digital payment not practical

Oct 30

Taxation, Top stories

PTBA declares implementing digital payment not practical

Pakistan Tax Bar Association (PTBA) has demanded the Federal Board of Revenue (FBR) extend the implementation of digital mode of payment for corporate entities the system is not practical to use at present for many business entities. The digital mode of payment has been made mandatory from November 01, 2021. The FBR has already made […]

by Anjum Shah