FBR launches prize scheme for POS customers

Aug 9

Taxation

FBR launches prize scheme for POS customers

ISLAMABAD: Federal Board of Revenue (FBR) on Monday launched prize scheme for customers of retailers, who integrated their sales through Point of Sales (POS) with the tax system. The FBR issued SRO 1005(I)/2021 for launching the prize scheme for customers of tier-1 retailers, who have integrated their retail outlets with the FBR computerized system for […]

by Mrs. Anjum Shahnawaz

Aug 4

Taxation

FBR issues valuation for steel products

Islamabad, January 18, 2024 – The Federal Board of Revenue (FBR) has issued valuation of locally produced steel products for collection of sales tax.

by Hamza Shahnawaz

Tax waiver of Rs64.2 billion avail by only 37 enterprises

Feb 8

Taxation

Tax waiver of Rs64.2 billion avail by only 37 enterprises

ISLAMABAD: An amount of Rs64.2 billion has been granted as waiver to only 37 enterprises, including the State Bank of Pakistan (SBP), Dr. Ikramul Haq, Advocate Supreme Court said on Monday. He was addressing a webinar hosted by Pakistan Institute of Development Economics on the topic of ‘Impact of SROs on Pakistan Economy’. Further highlighting […]

by Mrs. Anjum Shahnawaz

FBR issues SROs for reducing rate of duty, taxes

Apr 7

Taxation

FBR issues SROs for reducing rate of duty, taxes

ISLAMABAD: The Federal Board of Revenue (FBR) has issued concessionary Statutory Regulator Orders (SROs) for reduction in duty and tax rate for import of pulses and edible oil/seeds. The FBR issued two different SROs i.e. SRO 287(I)/2020 and SRO 288(I)/2020 to allow concession of duty and taxes on domestic supply and import of goods. Through […]

by Mrs. Anjum Shahnawaz

Importers wait issuance of concessionary SRO for consignment clearance

Apr 7

Trade & Industry

Importers wait issuance of concessionary SRO for consignment clearance

KARACHI: Around 500 containers of commodities have been stuck up at ports as importers are waiting issuance of concessionary SRO for customs clearance. “The government on March 30, 2020 decided on to bring advance tax on import of pulses to zero from two per cent and exemption of two per cent additional customs duty on […]

by Mrs. Anjum Shahnawaz

FBR increases up to 28.34 percent retail value of CNG for sales tax collection

Jun 29

Exclusive, Taxation

FBR increases up to 28.34 percent retail value of CNG for sales tax collection

ISLAMABAD: Federal Board of Revenue (FBR) has enhanced the consumer value of CNG by 28.34 percent for collection of sales tax from July 01, 2019. The FBR issued SRO 690(I)/2019 to notify the consumer value of CNG for the purpose of charging of sales tax from CNG stations by gas transmission and distribution companies. The […]

by Mrs. Anjum Shahnawaz

FBR imposes up to 7 percent additional customs duty

Jun 29

Pakistan Customs, Taxation

FBR imposes up to 7 percent additional customs duty

ISLAMABAD: Federal Board of Revenue (FBR) has imposed up to seven percent additional customs duty on items falling under tariff slab of 20 percent and higher slabs. The FBR issued SRO 670(1)/2019 on Saturday stated that in supersession of its Notification No. SRO 630(1)/2018, dated the May 24, 2018, the federal government approved to levy […]

by Mrs. Anjum Shahnawaz

FBR amends requirement of cash withdrawal information by banks

Apr 18

Taxation

FBR amends requirement of cash withdrawal information by banks

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued new instructions to banks regarding providing details of cash withdrawal by filers and non-filers. The FBR issued SRO 469(I)/2019 dated April 17, 2019 to amend SRO 1165(I)/2018 dated September 28, 2018. The amendment has been made regarding amount deducted on cash withdrawal from banks by filers […]

by Faisal Shahnawaz