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Tag Archives: Federal Board of Revenue

FBR announces exemption of additional customs duty on import of auto disable syringes

ISLAMABAD: Federal Board of Revenue (FBR) has removed additional customs duty on import of auto disable syringes with or without needles. The FBR issued SRO 367(I)/2021 dated March 30, 2021 and amended the SRO 572(I)/2020 dated June 30, 2020. According to the latest notification the additional customs duty shall not be collected on the import of auto disable syringes with ... Read More »

Taxpayers require to update profile by March 31: FBR 

ISLAMABAD: Taxpayers are required to update their profile by March 31, 2021 to avoid exclusion their names from Active Taxpayers List (ATL). The last date for updating the profile was December 31, 2020. However, it was extended up to March 31, 2021. Updating profile by all the taxpayers registered under Section 181 of the Income Tax Ordinance, 2001 and other ... Read More »

FBR issues 2.1 million notices to companies & individuals for not filing returns, mis-declaring assets

ISLAMABAD: The tax authorities have issued 2.1 million notices to individuals and companies for non-compliance in annual return filing and to those who misdeclared assets in their annual returns of income. According to a statement issued by FBR, these notices were sent to defaulters by February 28, 2021. The FBR issued notices around 1.4 million by January 31, 2021. It ... Read More »

Aruna Hussain, Soren Skou, Maersk mega scandal case: Importers demand special body to save them from blackmail

KARACHI: Importers have called for setting up a special committee to ensure the implementation of laws to save them from the extortion, blackmail and exploitation of Aruna Hussain, Soren Skou and other officials of Maersk in a mega scandal of illegal collection of demurrage and detention charges. Office-bearers of top chambers of commerce and industry have expressed their grave concern ... Read More »

FBR notifies promotion of 7 PCS officers from BS-20 to BS-21 with immediate effect

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for promotion of following 7 officers of Pakistan Customs Service (PCS) from BS-20 to BS-21 on regular with immediate effect and until further orders:- Muhammad Iqbal Bhawana Wajid Ali Rabab Sikandar Zulfiqar Younus Shahnaz Maqbool Ahmad Rauf Seema Raza Bokhari The officers, who are presently posted against BS-21 posts on OPS, will ... Read More »

FBR promotes 13 PCS officers from BS-19 to BS-20

ISLAMABAD: Federal Board of Revenue (FBR) has issued notification to promote following officers of Pakistan Customs Service (PCS) from BS-19 to BS-20 with immediate effect and until further orders:- Hassan Saqib Sheikh Masood Ahmed Fayaz Rasool Sanaullah Abro Muhammad Tahir Muhammad Saleem Memon Muhammad Amir Thahim Yousaf Haider Orakzai Munib Sarwar Farrukh Sajjad Tayyeba Kayani Moeed Muhmmad Nayyar Shafiq Muhammad ... Read More »

IR offices to remain functional on February 27 to achieve revenue 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 remain open and observe normal ... Read More »

FBR transfers 4 PCS officers of BS-20 with immediate effect

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for transfers and postings of BS-20 officers of Pakistan Customs Service (PCS) with immediate effect and until further orders. The FBR notified transfers and postings of following PCS officers: Abdul Qadir Memon (Pakistan Customs Service/BS-20) on return from NDU (awaiting posting), has been posted as Collector, Model Customs Collectorate, Hyderabad. Asif Saeed ... Read More »

QICT, Maersk case: Customs Dept. not able to implement law, NAB asked to intervene

KARACHI: Traders, Importers and Customs Agents said FBR and Customs Department miserably failed to implement the existing laws regarding demurrage and detention charges as companies like DP World / Qasim International Containers Terminal (QICT) and Maersk Pakistan (Pvt) Ltd have become a ‘shipping mafia’, only working to take benefit of these difficult times and looting the nation on Covid-19 disaster. ... Read More »

FBR Member Sarwat Tahira Habib transferred and posted as FTO

ISLAMABAD: Federal Board of Revenue (FBR) Member Legal & Accounting-Customs Sarwat Tahira Habib has been transferred and posted as Federal Tax Ombudsman. Sources told Customs Today that former chairperson FBR Rukhsana Yasmin had recommended Sarwat Tahira Habib for the post of Member Customs but Election Commission of Pakistan rejected transfers and postings in Pakistan Customs due to general elections 2018. ... Read More »

Nearly 2,000 new declarations made since extension in tax amnesty scheme

ISLAMABAD: Nearly 2,000 new declarations have been made until July 19 since the extension in the deadline of the tax amnesty scheme on July 1. Sources said that nearly 55,000 people had declared their more than Rs1,770 billion worth of domestic and foreign assets under the tax amnesty scheme until June 30 this year and paid around Rs99 billion in ... Read More »

Zero-rating of sales tax granted on textile machinery import

ISLAMABAD: The Federal Board of Revenue has granted zero-rating of sales tax on import of textile machinery. The FBR allowed zero-rating on textile machinery (not manufactured locally and imported by the unit registered with Ministry of Textile Industry as specified in Part IV of the Fifth Schedule to the Customs Act, 1969, subject to same conditions as specified therein)  through ... Read More »

FBR obtains details of Pakistanis having properties in Dubai

ISLAMABAD: The Federal Board of Revenue has claimed to obtain details of Pakistani nationals who have undeclared properties in Dubai. According to a senior FBR official, the data includes quantum of rental income earned from these properties. The data was received from Dubai tax authorities, the tax official said. Meanwhile, the FBR is also intensifying its awareness campaign around the ... Read More »

FBR still updating final figures of amnesty scheme beneficiaries

FAISALABAD: The tax amnesty scheme has received 10 times more response as compared to the previous scheme and Federal Board of Revenue (FBR) is still updating final figures of its beneficiaries and tax collected under this scheme. Addressing a third awareness session on Tax Amnesty Scheme-2018, Withholding Tax Director General Mehmood Aslam Lillah said that placing Pakistan in grey list ... Read More »

FBR issues procedure for adjustment of ST by steel melters at import stage

ISLAMABAD: The Federal Board of Revenue has issued procedure for adjustment of sales tax by steel melters paid at import stage on the specified categories of remeltable iron and steel scrap with effect from July 1, 2018. The FBR, in supersession of Sales Tax General Order No. 119 of 2017 dated 2nd August, 2017, and in exercise of the power ... Read More »

Customs Appellate Tribunal directs to conclude arguments on case filed by M/s Indus Laboratory

ISLAMABAD: A single bench of Customs Appellate Tribunal directed counsels to concluded hearing of arguments in a customs matter submitted by M/s Indus Laboratory against field office of Federal Board of Revenue (FBR) on Thursday. Muhammad Nasir Khan, Member Technical of Customs Appellate Tribunal, reserved the decision. The bench on last hearing had directed parties to submit cases record before ... Read More »

IHC seeks record of four cases filed against ATIR, Customs Appellate Tribunal

ISLAMABAD: Islamabad High Court on Thursday directed parties to submit record of the cases while hearing four customs matters filed against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue. A citizen, M Anwar Khan, had filed four customs references against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue. IHC division bench, comprising Justice Aamer Farooq and Justice Mohsin Akhtar Kiyani, ... Read More »

A Thousand Avenfields

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Member FBR says undeclared assets can hardly benefit people

MULTAN: Federal Board of Revenue’s (FBR) Member Accounting Faheemul Haq has said that experience and observation showed that assets that were kept hidden or undeclared or benami property could hardly benefit the people. The FBR Member said this while giving a briefing on tax amnesty scheme and responding questions raised by representatives of Chamber of Small Traders and Industry, Tax ... Read More »

FBR expects additional Rs50b through new taxes for revised Rs2691b target

ISLAMABAD: Federal Board of Revenue has been expecting to collect additional Rs50b revenue through new tax measures to achieve the revised tax collection target of Rs2691 billion for fiscal year 2014-15. The FBR will collect Rs5 billion revenues through imposition of Regulatory Duty (RD) on furnace oil, during the remaining period (Feb-June) of the current fiscal year. The WHT rate ... Read More »