Pakistan News

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  • FBR urged to resolve double taxation issue

    KARACHI: The Karachi Tax Bar Association (KTBA) has drawn the attention of the Federal Board of Revenue (FBR) towards double taxation on some services on the bases of origin and destination, and sought to get all the provincial sales tax-collecting authorities on the same page...

    It added that Article 14 of the Constitution of Pakistan limits a provincial assembly’s legislative competence to its province only...

  • FBR to launch new system for e-filing

    An official announcement of the FBR said that the new system will require early submission of sales invoice data, enabling buyers to claim input against the same...

    The FBR has also sought feedback from all registered persons, representatives of chambers of commerce and industry, traders/business associations, tax bar associations on the proposed system...

  • FBR barred from making unauthorised raids

    ISLAMABAD: The Senate Standing Committee on Finance on Thursday directed the Federal Board of Revenue (FBR) not to conduct raids at any business entity without the authorisation of its chairman or member operations...

    “The committee will collect monthly details of raids from all chambers of commerce and industry in the country and will scrutinise each case to determine whether the taxpayer was at fault or FBR officials were exploiting...

  • Tax compliance still a major issue for the FBR

    That puts a big question mark about the FBR’s performance as tax compliance and enforcement have deteriorated over the years...

    Now the interesting question arises as to how the FBR managed to achieve its revenue target after several years of regular shortfalls...

  • FBR raids NTS office, seizes tax records, computers

    ISLAMABAD: Two days after the National Accountability Bureau (NAB) took the step of conducting an inquiry into leaked question papers of the National Testing Service (NTS), as well as alleged irregularities in the organisation, the Federal Board of Revenue (FBR) raided the NTS office and confiscated the organisation’s records...

    The FBR raided the office of NTS Islamabad — a private entity that has been operating its business under...

  • Dar orders FBR to pay Rs13bn ST refunds by 31st

    ISLAMABAD: Finance Minister Ishaq Dar has ordered the Federal Board of Revenue (FBR) to release by Oct 31 an amount of Rs13 billion involving more than 4,000 sales tax refund payment orders (RPOs) issued up to Aug 31...

    Chairing a meeting on Thursday, Mr Dar said the government is aware of liquidity problems being faced by the businessmen and traders community and keeping this fact in view he has given instructions to the FBR for...

  • FBR, ministry trade fire over regulatory duties

    ISLAMABAD: The Standing Committee on Finance has directed the Federal Board of Revenue (FBR) and Ministry of Commerce to finalise a new list of items on which regulatory duties (RD) should be imposed in two weeks’ time...

    Confusion was witnessed as to which authority wanted to impose RD as the commerce ministry and the FBR blamed each other...

  • FBR misses revenue collection target

    ISLAMABAD: The tax collection by the Federal Board of Revenue (FBR) in October missed its target by over Rs21 billion, a source told Dawn on Tuesday...

    The FBR expects to receive a few billion rupees in days ahead...

  • FBR launches income tax awareness drive

    This observation was shared by a team of the Federal Board of Revenue (FBR) on Thursday...

    The two-member team, led by FBR member Facilitation and Tax Education (FATE) Nausheen Javaid Amjad, is conducting a tax awareness drive in Karachi which aims to motivate salaried individuals to file their tax returns before the due date of October 31...

  • FBR extends deadline for filing returns

    ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline for filing annual income tax returns and statements to Sept 30...

    Usually, the FBR extends the deadline many times a year to encourage people to file their returns...

  • FBR barred from taking coercive steps against Rahat

    LAHORE: The Lahore High Court on Wednesday restrained FBR from taking coercive measures against singer Rahat Fateh Ali Khan for the recovery of income tax...

    Though a writ petition, the singer challenged freezing of his bank accounts by the FBR on alleged default of income tax...

  • FBR poised to act against those named in Paradise Papers

    “We held an informal meeting today on the issue,” a source in the Federal Board of Revenue (FBR) told Dawn on Monday...

    As it did with the Panama Papers investigation, the FBR will allow its Intelligence & Investigation Wing to issue notices to all those who were identified in the fresh leaks and named in media reports...

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