SC accepts FBR’s plea over CVT collection

Shabbar Zaidi announces to resume office in FBR on January 20
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.

READ MORE: FBR collects Rs320bn in October 2019, says Shabbar Zaidi

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.

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.
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