No Result
View All Result
Monday, June 9, 2025
MM News
اردو
  • Home
  • Latest News
  • Showbiz
    Ana de Armas in a scene from "Ballerina." (Lionsgate via AP)

    How to watch Ana de Armas’ ‘Ballerina’ online

    SI Film

    Love Guru Review: Hit or flop?

    (Credit: Europa Press)

    ‘I Am Georgina’ won’t return as Netflix ends show about Ronaldo’s girlfriend

    Ali Zafar drops first Shina song ‘Karay Karay’ on Eidul Adha

    Ali Zafar releases first Shina language song ‘Kare Kare’

    Hania Aamir, known for her lively spirit, surprised fans with a photo carousel from Makkah, Saudi Arabia while Sana Javed, dressed in a peach ensemble, celebrated Eid with her cricketer husband Shoaib Malik

    Pakistani celebs celebrate Eidul Adha 2025 in style

    Directed by Tarun Mansukhani and produced by Sajid Nadiadwala, Housefull 5 features a power-packed lineup including Akshay Kumar and Abhishek Bachchan

    When will Akshay Kumar’s ‘Housefull 5’ get OTT release?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • Showbiz
    Ana de Armas in a scene from "Ballerina." (Lionsgate via AP)

    How to watch Ana de Armas’ ‘Ballerina’ online

    SI Film

    Love Guru Review: Hit or flop?

    (Credit: Europa Press)

    ‘I Am Georgina’ won’t return as Netflix ends show about Ronaldo’s girlfriend

    Ali Zafar drops first Shina song ‘Karay Karay’ on Eidul Adha

    Ali Zafar releases first Shina language song ‘Kare Kare’

    Hania Aamir, known for her lively spirit, surprised fans with a photo carousel from Makkah, Saudi Arabia while Sana Javed, dressed in a peach ensemble, celebrated Eid with her cricketer husband Shoaib Malik

    Pakistani celebs celebrate Eidul Adha 2025 in style

    Directed by Tarun Mansukhani and produced by Sajid Nadiadwala, Housefull 5 features a power-packed lineup including Akshay Kumar and Abhishek Bachchan

    When will Akshay Kumar’s ‘Housefull 5’ get OTT release?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Thought Box
  • Showbiz
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

FBR urges LCCI members to file tax returns on time

MM News Staff by MM News Staff
November 12, 2022

LAHORE: The Federal board of Revenue (FBR) on Friday urged the Lahore Chamber of Commerce and Industry to ask its members to submit their tax returns on time as filing of tax returns this year is far lower as compared to the previous year.

Speaking at the Lahore Chamber of Commerce and Industry, Member Public Relations, Federal Board of Revenue Sardar Ali Khawaja indicated that the low tax base is the basic problem, which calls for collaboration with business people. He advised LCCI members to submit their tax returns on time because the Lahore Chamber had requested an extension of the deadline of filing of income tax returns.

On the occasion, LCCI President Kashif Anwar gave the FBR an assurance that they would fully cooperate. Senior Vice President LCCI Chaudhry Zafar Mahmood, Chief Commissioner of Inland Revenue Nasir Iqbal, and FPCCI President Irfan Iqbal Sheikh also spoke on the occasion.

According to Sardar Ali Khawaja employees with yearly salaries under 4 lakh and businesses with incomes less than 6 lakh must file tax returns even if they file zero tax. According to him, efforts are being made in collaboration with the Lahore Chamber of Commerce and Industry to implement a fixed tax rate and simple tax returns.

He continued, “This year, we want more tax returns than last year to reach our revenue projections, and our mission is interaction, facilitation, education, and settlement of business community issues. The Federal Board of Revenue, he claimed, desires frequent communication with the business community.

The president LCCI, Kashif Anwar, praised the Federal Board of Revenue for its efforts to simplify the taxation system and urged the use of a simplified tax return form for merchants and shopkeepers with annual sales of more than Rs. 100 million. He also said that the simplification of tax form for the retailers and shopkeepers with an annual turnover of above Rs. 100 million. He said that it will give a good massage to the taxpayers besides helping in expanding the tax net.

Read more: Weekly inflation edges up by 0.74pc

He said that it is an obligation for retailers to register in the POS. “One shop retailers, irrespective of their area, should be excluded from Tier – 1,”, Kashif Anwar urged.

“In today’s era, the information technology has become unavoidable for all sectors”, the LCCI President said adding that the website of Federal Board of Revenue is a great experience for the taxpayers as they have tax related ordinance, rules and regulations, acts and other content like taxpayer facilitation brochure at one platform for which the department deserves appreciation.

He said that there should be no delay in implementing the recommendations given by the Federal Tax Ombudsman. It will be very convenient for the business community.

FPCCI President Irfan Iqbal Sheikh said that economic situation is not good because of political instability. He informed the house that FPCCI has established a research department and 8 publications have been published so far. He said that the Ministry of Commerce has given the task of preparing papers to the FPCCI for Gulf Cooperation Council Conference.

Chief Commissioner of Inland Revenue Nasir Iqbal said that rectifying the taxation system is as like as repairing of a moving car. He said that Lahore had the highest rate of POS registration in the country. He stated that every month, more than 100 firms register with the POS system in Lahore.

LCCI Senior Vice President Chaudhry Zafar Mahmood said that the role of Federal Board of Revenue should be more cooperative and taxation system should be simple and easy to access.

ShareTweetSendShare
Previous Post

Crypto exchange FTX files for bankruptcy as wunderkind CEO exits

Next Post

Sheikh Rashid sees fragmentation of 13-parties alliance after November

Related Stories

Business & Stock

Major targets missed as Pakistan’s Economic Survey 2024-25 to be presented tomorrow

June 8, 2025
Business & Stock

Motor Dealers Association hopes govt will ease used vehicle import restrictions

June 8, 2025
(APP)
Business & Stock

Karachi’s Northern Bypass cattle market sees over 150,000 animals sold since April 19

June 7, 2025
Business & Stock

Budget 2025-26: Govt to increase withholding tax for non-filers

June 7, 2025
Pakistan’s Minister of State for Crypto and Blockchain Bilal Bin Saqib meets New York City Mayor Eric Adams (left) in NewYork City on June 6, 2025. (Pakistan Crypto Council)
Business & Stock

Bilal Bin Saqib meets New York City Mayor to strengthen bilateral cooperation

June 6, 2025
Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)
Business & Stock

Govt likely to impose 18% sales tax on solar panels in budget 2025-26

June 6, 2025
Online file photo
Business & Stock

SSGC issues gas supply schedule for Karachi during Eidul Adha

June 5, 2025
File photo
Business & Stock

Rs343 million renovation plan for PM Office in budget 2025-26

June 5, 2025
Dubai modern architecture landmark skyline view from the Marasi marina in city Business bay downtown area in the United Arab Emirates at blue hour at night. Getty Images Image used for illustrative purpose.
Getty Images/iStockphoto
Business & Stock

Dubai real estate sets record with Dh66.8 billion sales in May 2025

June 5, 2025
Business & Stock

Govt debt and liabilities cross Rs75 trillion

June 5, 2025
Next Post

Sheikh Rashid sees fragmentation of 13-parties alliance after November

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

Ana de Armas in a scene from "Ballerina." (Lionsgate via AP)
Film & TV

How to watch Ana de Armas’ ‘Ballerina’ online

by MM News Staff
June 8, 2025
SI Film
Film & TV

Love Guru Review: Hit or flop?

by MM News Staff
June 8, 2025
File Photo
Uncategorized

Power Division refutes reports of ban on installing two electricity meters

by MM News Staff
June 8, 2025
World

Iran claims it obtained secret Israeli military and nuclear documents

by MM News Staff
June 8, 2025
Khaby Lame, the 'king' of TikTok (Photo: TikTok)
Thought Box

Why was famous TikToker Khaby Lame arrested in the US?

by MM News Staff
June 8, 2025

Opinion

munir ahmed oped
The Betrayals Within: From Homes to Halls of Power
June 5, 2025
- Munir Ahmed
munir ahmed oped
AIF 2025 – A Rallying Cry for Unity in a Fractured World
May 31, 2025
- Munir Ahmed
munir-ahmed-oped-2-1140x1140
Eurasian Economic Union at 10: Looking Beyond the Decade
May 29, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

File photo
Bakra Eid 2025

Eidul Adha holidays: PDMA issues heatwave alert

by MM News Staff
June 5, 2025

Punjab Provincial Disaster Management Authority (PDMA) has issued an alert regarding temperature rise and...

representative image

Severe heatwave warning issued nationwide for Eid holidays

June 5, 2025
President Asif Ali Zardari

World Environment Day: Climate disasters displace millions in Pakistan: President

June 5, 2025
Image: ET

Weather updates for Karachi and other parts of country

June 5, 2025
See all

Prices

Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)
Business & Stock

Govt likely to impose 18% sales tax on solar panels in budget 2025-26

by MM News Staff
June 6, 2025

Pakistan is poised to introduce major changes to its taxation framework in the upcoming...

Karachi consumers get Rs2.99/unit relief, power rates hiked elsewhere

June 5, 2025
(File)

Gold price increases Rs4,300 per tola

June 5, 2025
(Representational Image)

Will govt scrap solar net metering in budget 2025-26?

June 5, 2025
See all

Transport News

Lack of adequate public transportation facilities in Karachi has made rickshaws a popular transport.
Top News

Sindh govt bans four-seat rickshaws in Karachi

by MM News Staff
June 6, 2025

The Sindh government on Friday banned four-seater rickshaws in Karachi, while a decision has...

Air Karachi granted regular public transport license

June 5, 2025
(Representational Image, Credit: ProPakistani)

How to apply for Punjab electric taxi scheme

June 4, 2025
file photo

Govt rolls back fare hike for Islamabad bus services

June 4, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Thought Box
  • Showbiz
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.