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Tag Archives: Revenue

Multan Customs collects Rs 10.26 billion in September

MULTAN: The Customs Collectorate has collected revenue worth Rs 10.26 billion in September of fiscal year 2014-15. The collectorate has collected customs duty of Rs 7 billion in September. The total customs duty collected includes Rs 7 billion, regulatory duty of Rs 0.299 million and warehouse surcharge of Rs 0.703 million. The federal excise duty worth Rs 8.418 million has been ... Read More »

IR officials flay manual tax refund system

KARACHI: The Inland Revenue senior officials have revealed their apprehension over the manual refund system, claiming it would direct us to ‘corruption’, as Federal Board of Revenue (FBR) has given flexible powers to commissioners and other officials. Sources at the Karachi Regional Tax Office (RTO) exposed that during the last decade, FBR had given attention on the computerisation of tax ... Read More »

FBR fails to achieve first quarter tax collection target by Rs22b

ISLAMABAD: Federal Board of Revenue (FBR) has failed to achieve the monthly and first-quarter revenue collection targets mainly owing to devastating floods in the country. The Board missed the first-quarter tax collection target by Rs20 billion, which has also raised the question about achieving of annual target of Rs2.81 trillion. As per details, FBR collected Rs549billion from July to September, ... Read More »

Crackdown against Wasa defaulters started

RAWALPINDI: The Water and Sanitation Agency (Wasa) has started a drive against defaulters for recovery of dues. Starting the drive against both domestic and commercial defaulters, Wasa Special Magistrate Amir Ashfaq Qurashi and Deputy Director Revenue Rana Shams ur Rehman have raided a hotel, service stations and various localities and confiscated 5 illegal water motors and served notices to 25 ... Read More »

FBR collects Rs 134b amid Imran, Qadri’s sit-ins

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs 134 billion revenue until August 26 against Rs 110 billion collected during the corresponding period of the last year, depicting a 20 percent increase in the tax collection, said Shahid Hussain Asad, the member of the Inland-Revenue and spokesman for the Federal Board of Revenue (FBR). “The sit-ins by the Pakistan ... Read More »

Imran, Qadri sit-ins: Economy suffers Rs 900b loss

ISLAMABAD: Senator Mushahidullah Khan on Tuesday claimed that sit-ins and protest demonstrations by Imran Khan and Tahirul Qadri had cost the national exchequer Rs 900 billion. Earlier, Commerce Minister Khurram Dastgir had claimed that the direct losses to the national economy due to the protest demonstrations stood at Rs 800 billion. While talking to this scribe here, the chairperson of ... Read More »

Govt to impose 5% tax on Solar Panels by September

ISLAMABAD: The federal government has been planning to impose 5% tax on import of solar panels and related equipment by September this year. However, Parliamentary Secretary for Finance, Revenue, Economic Affairs, and Statistics & Privatization Rana Muhammad Afzal Khan said that government has not yet imposed any tax on solar panels import but it is expected after completion of assessment ... Read More »

Efforts, claims to broaden tax net fail to produce

ISLAMABAD: The government, despite tall claims, failed to broaden tax base by bringing in wealthy non-taxpayers into the tax net as only 14 percent of the people have filed returns out of total notices issued during last financial year 2013-14. The government had planned roping in 100,000 wealthy non-taxpayers into tax net every year over the next five years. The ... Read More »

Work overload: 655 vacancies endanger RTO’s revenue operations

SIALKOT: The incumbents of  Regional Tax Directorate has been suffering work overload due to vacant seats threatening revenue operations in the region. As per details, the Federal Board of Revenue (FBR) has already approved as many as 655 vacancies of different cadre officials at Regional Tax Office (RTO) Gujranwala but still no appointment witnessed. On the other hand, about 375 ... Read More »

Collaborative efforts needed for better revenue collection: Tariq Bajwa

ISLAMABAD: FBR Chairman emphasized Members of FBR to expedite the efforts to achieve the revenue target for FY2014-15. As per details, FBR Chairman Tariq Bajwa presided an important meeting on budget/revenue reforms and their execution plans to achieve the revenue target for FY 2014-15. The Meeting was held at Federal Board of Revenue (FBR) head quarter here the other day. ... Read More »

PRV Section of MCC Appraisement-West recovers Rs16.5m in June

KARACHI: Post Release Verification (PRV) Section of Model Customs Collectorate of Appraisement-West has recovered an amount of Rs 16,511,643 by issuing 70 demand notices to different importers in the month of June, 2014. The PRV Section has recovered an amount of Rs 346,069 through goods declaration (GD) No.119239; Rs 365,919 through GD No.90910; Rs 510,095 through GD No.137133; Rs 230,722 ... Read More »

FBR achieves its revenue collection target

ISLAMABAD: After tough struggle throughout the year, Federal Board of Revenue has reportedly achieved its revenue collection target for the fiscal year 2013-14. Finance Minister Ishaq Dar has congratulated FBR Chairman Tariq Bajwa and Members of the Board for achieving the target. After compilation of the latest data aggregate tax collection figures have so far come up to be Rs ... Read More »

MCC-Appraisement-West collects Rs20.8b against Rs30.3b in June

KARACHI: Model Customs Collectorate of Appraisement-West has collected an amount of Rs 20,776 million against the target of Rs 30,357 million, set by the Federal Board of Revenue for the month of June, 2014. The collectorate has fallen short of its target by Rs 9,581 million. MCC Appraisement-West has collected an amount of Rs 10,766 million in share of customs ... Read More »

June’14: MCC-Appraisement-East collects Rs16.1b against target of Rs28b

KARACHI: Model Customs Collectorate of Appraisement-East has collected an amount of Rs 16,113.5 million against the target of Rs 28,037.7 million, set by the Federal Board of Revenue for the month of June, 2014. The collectorate has fallen short of its target by Rs 11,924.2 million. According to the statistics, MCC Appraisement-East has collected an amount of Rs 5,003.4 million ... Read More »

MCC Multan generates over Rs36.2b during FY 2013-14

MULTAN: Model Customs Collectorate of Multan has generated revenue to the tune of Rs 36,233 million by the end of fiscal year 2013-14 showing ten per cent increase in tax collection over the previous fiscal year. MCC Multan has collected revenue of 10,705 million in share of customs duty during fiscal year 2013-2014. The collectorate collected sales tax of 24,912 ... Read More »

MCC Port Qasim collects Rs26.5b against Rs36.8b in June’14

KARACHI: Model Customs Collectorate of Port Muhammad Bin Qasim has collected revenue amounting Rs 26,480 million by the end of June, 2014 against its target of Rs 36,759 million set by the Federal Board of Revenue for the last month of the Fiscal Year 2013-14. MCC Port Qasim despite all out efforts in order to meet the revenue target for ... Read More »

FY 2013-14: FBR collects Rs2,224b provisionally

ISLAMABAD: Federal Board of Revenue has collected Rs 2,224 billion in the outgoing fiscal year ending on June 30, 2014 against a collection of Rs 1,946 billion during the previous fiscal year. FBR had revised the tax target twice down to Rs 2,275 billion. Initially, the tax target was envisaged up to Rs 2,475 and then reduced to Rs 2,345 ... Read More »

FBR Gujranwala region attains its revenue target for June’14

SIALKOT: Federal Board of Revenue has achieved its recovery target of Rs 1.2 billion set for the month of June 2014 by imposing tax emergency in the region, as the Board has collected Rs 700 million in share of income tax and withholding tax and Rs 500 million as sales tax from the defaulters during this special recovery campaign launched ... Read More »

Banks yet to transfer received amount of taxes to national exchequer

ISLAMABAD: Most of the banks having accounts of various governmental departments and institutions related to revenue including Federal Board of Revenue, have not yet deposited billions of rupees to the national exchequer however having received the amount themselves. As the current fiscal year draws to an end today, Federal Board of Revenue has stressed the banks to immediately deposit the ... Read More »

Customs clearance gets tougher at Islamabad dry port

ISLAMABAD: Assistant Collector of Islamabad Dry Port Yawar Nawaz has made it mandatory for consignments of imported fabrics to go through laboratory testing while strictly directing the staff at the dry port to ensure that the procedures of customs clearance are being properly followed. As per directives, the duties/taxes levied on the import of textile fabrics will be subject to ... Read More »