SC accepts FBR’s plea over CVT collection

ISLAMABAD: Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Thursday said that the Supreme Court has accepted board’s plea about collection of Capital Value Tax (CVT).

Shabbar Zaidi in a tweet apprised about Supreme Court’s decision regarding acceptance of CVT collection.

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He further said that the CVT is collectible where property is transferred by a company and added that it is collectible in all transfers, not limited to those undertaken by Registrar of Properties.

https://twitter.com/ShabarZaidi/status/1204989668376371200?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1204989668376371200&ref_url=https%3A%2F%2Farynews.tv%2Fen%2Fsupreme-court-fbr-collection-cvt-shabbar-zaidi%2F

Last week, Shabbar Zaidi had said that Federal Board of Revenue released refunds worth Rs5.5 billion under the fully automated faster system.

READ ALSO: Shabbar Zaidi denies deadlock between FBR and traders

The FBR chairman in a tweet had said the most important change in paradigm is that such refunds have been issued under fully automated, impersonal, harassment and corruption-free system.