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Tag Archives: Federal Board of Revenue (FBR)

Income tax return filing hits record high of 3.11 million: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has issued Active Taxpayers List (ATL) which revealed that annual income tax return filing hit all time high of 3.11 million. The FBR updated the last weekly ATL for tax year 2019 on February 22, 2021 and received record number on the basis of return filed up to February 21, 2021. The FBR is ... Read More »

Pakistan Customs impounds non-duty paid vehicles worth Rs11.3b

ISLAMABAD: Pakistan Customs has impounded non-duty paid motor vehicles worth Rs11.3 billion during first seven months (July – January) of the current fiscal year, said a spokesman of the Federal Board of Revenue (FBR). The seizure of non-duty paid motor vehicles registered growth around 66 percent as the customs authorities seized motor vehicles worth Rs6.8 billion in the same period ... Read More »

FBR seizes smuggled goods worth Rs35b in 7 months of FY2020-21

ISLAMABAD: The Federal Board of Revenue (FBR) seized smuggled goods worth Rs35 billion during the first seven months of the current fiscal year (July-January 2020-21). According to press statement issued by the Board, this shows an increase of 59 percent when compared to the corresponding period (Jul 2019-Jan 2020) of the last financial year during which smuggled goods worth Rs22 ... Read More »

FBR issues procedure for intimating retirement, submission of pension papers

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for officers and staff of tax machinery regarding intimation about their superannuation retirement and submission of pension papers. In supersession to Board’s earlier SOPs No. 25(20)MIR-IV/2016 dated 10.12.2020, the FBR said that while submitting the cases of retirement, pension papers and encashment of LPR for officers of field formations, the following ... Read More »

FBR implements rules for electronic issuance of income tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) implemented the rules for electronic issuance of income tax refunds. The FBR issued SRO 214(I)/2021 to make amendments in Income Tax Rules, 2002. Previously, the FBR issued SRO 175(I)/2021 on February 10, 2021 inviting suggestions on the draft rules. According to the rules, a Centralized Income Tax Refund Office (CITRO) would be established for ... Read More »

Collector AIIA Azmat Tahira transfers inspectors, sepoys

LAHORE: Collectorate of Customs Allama Iqbal International Airport (AIIA) Azmat Tahira has issued order for transfers and postings of following inspectors, sepoys with immediate effect and until further order:- Intikhab Alam, Inspector is transferred from Royal and SAPS examination to MCD. Nasrullah Khan, Inspector is transferred from Airport Traffic to refund and rebate. Raza Ali Sial, Inspector is transferred from ... Read More »

FBR, OECD join hands to introduce new global tax standards

ISLAMABAD: The Federal Board of Revenue (FBR) and Organisation of Economic Cooperation and Development (OECD) have joined hands to launch a programme for helping Pakistan enacting new global tax standards. After conducting three days of talks with Pakistani authorities, OECD in a statement said it aimed to launch an induction programme to assist the enactment of base erosion and profit ... Read More »

FBR obtains info about Pakistanis’ immovable properties in UK

ISLAMABAD: The Federal Board of Revenue (FBR) has obtained information regarding immovable properties owned by Pakistanis in United Kingdom (UK). The information has been obtained with the assistance of Organization for Economic Cooperation and Development (OECD) and UK tax authorities, said FBR in a brief statement. According to the statement, the information was being analyzed by the board for taking ... Read More »

Govt mulling over to hike duty on over 1,000 imported items

ISLAMABAD: The federal government is planning to levy additional regulatory duty on more than a thousand imported items to generate $1.12 billion, which will assist in reining in the trade deficit Sources said that the new proposal is being finalized by the State Bank of Pakistan, Finance Division, Ministry of Commerce and Textile and the Federal Board of Revenue (FBR). As ... Read More »

Election candidates paid 20% more taxes in 2017 than 2016

ISLAMABAD: The candidates, who are participating in the general elections 2018, paid over 20 per cent more taxes in fiscal year 2017 than 2016. Tax payments reported by the Federal Board of Revenue (FBR) and provided by the ECP reveal the tax payment history for a total of 15,911 candidates. There are more listed for the incoming election, but not ... Read More »

FBR extends Customs powers of FC, Rangers up to June next

ISLAMABAD: The Federal Board of Revenue (FBR) has extended anti-smuggling powers of Pakistan Rangers and Frontier Corps of Balochistan and Khyber Pakhtunkhwa up to June 30, 2019. These forces would continue to conduct physically examine/search persons, screen or x-ray bodies of suspected persons, and arrest of smugglers without warrant under the Customs Act, 1969. Sources in Pakistan Customs said these ... Read More »

Nine Customs officers of BS 17-18 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted nine following officers of Pakistan Customs Service (PCS) of BS 17-18 with mediate effect. According to the notification, the officers who are drawing performance allowance prior will continue to draw this allowance on the new place of posting. All the transferred officers have been requested to relinquish/assume charge, using online HRMS facility ... Read More »

Rs1.172 trillion or Rs1.165 trillion: Dar’s figures contradict FBR revenue collection claim for 1H of FY15  

ISLAMABAD: The Rs1.165 trillion revenue collection figure reported by Finance Minister Ishaq Dar during his press contradicted the Rs1.172 trillion figure reported by the Federal Board of Revenue (FBR) for the first half of the current fiscal year, showing a Rs7 billion gap between the figure reported by both the minister and the FBR. It is to be noted that ... Read More »

Three Customs officers of BS 18-19 assume charge

ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications regarding charge relinquishment/assumption by the Pakistan Customs Service (PCS) officers of BS 18-19. Syed Asad Raza Rizvi (BS-19) has assumed charge of the post of Secretary (Mgt Customs-I), Federal Board of Revenue (HQ) after relinquishing the charge of the post of Additional Director (OPS), Directorate of Intelligence & Investigation-FBR, Lahore. On ... Read More »

77,000 people served notices: 15,000 out of 64,000 companies file income tax returns Dec 31

ISLAMABAD: Federal Board of Revenue (FBR) has given a list of 10,000 companies to the Securities and Exchange Commission of Pakistan (SECP) that have not filed their income tax returns yet. Sources said that only 15,000 out of over 64,000 registered companies filed income tax returns by the last date of December 31, 2014. The figure was also lower than ... Read More »

500,000 tax dodgers: LHC grants FBR access to any person’s account

LAHORE: The Lahore High Court (LHC) has granted Federal Board of Revenue (FBR) direct access to any person’s account in the country after rejecting petitions of various banks, which have challenged the authorisation given to FBR by the federal government. LHC judge Justice Ijazul Ahsan announced a detailed verdict of 30 pages. The banks through their counsels stated that FBR’s ... Read More »

0.5 million tax dodgers: LHC grants FBR access to any person’s account

LAHORE: The Lahore High Court (LHC) has granted Federal Board of Revenue (FBR) direct access to any person’s account in the country after rejecting petitions of various banks, which have challenged the authorisation given to FBR by the federal government. LHC judge Justice Ijazul Ahsan announced a detailed verdict of 30 pages. The banks through their counsels stated that FBR’s ... Read More »

15,000 out of 64,000 registered companies file income tax returns Dec 31

ISLAMABAD: Federal Board of Revenue (FBR) has given a list of 10,000 companies to the Securities and Exchange Commission of Pakistan (SECP) that have not filed their income tax returns yet. Sources said that only 15,000 out of over 64,000 registered companies filed income tax returns by the last date of December 31, 2014. The figure was also lower than ... Read More »

6-month collection: FBR revenue up 14pc to Rs1,171,868m

ISLAMABAD: The FBR’s revenue collection has increased 14 percent to Rs1,171,868 million during the first six months of current financial year 2014-15, against Rs1,081,937 million in corresponding period of last year. According to the Federal Board of Revenue report, the board realized a gross collection of Rs1,230,376m and at the same time issued refunds of Rs58,508 million during the first ... Read More »

Three Inland Revenue officers assume charge after promotion to BS-19

ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications regarding charge relinquishment/assumption by the Inland Revenue Service (IRS) officers after their promotion to BS-19. Syed Bahadur Ali has relinquished the charge of the post of Additional Commissioner-IR (OPS/BS-18), Regional Tax Office, Multan and assumed the charge of the post of Additional Commissioner-IR (BS-19), RTO, Multan. Javed Anwar has assumed the ... Read More »