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FBR

FBR unearths Rs 12.78 billion suspicious transaction in Ghotki

GHOTKI: The Federal Board of Revenue (FBR) has unearthed a Rs 12.78 billion suspicious transactions from a dry cleaner’s account in the Ghotki area of Sindh. According to sources, a dry cleaner identified as Romesh Kumar was shocked after receiving

FBR eliminates regulatory duty on textile sector import

ISLAMABAD: The Federal Board of Revenue (FBR) has eliminated regulatory duty on the import of the textile sector. The FBR has issued another SRO.1043(I)/2020 to amend the regulatory duty SRO.680(I)/2019. AS per the new amendment, the bureau will not charge

FBR officers involved in massive tax scam

ISLAMABAD: The officers at the regional branch of the Federal Board of Revenue (FBR) in the federal capital are involved in a massive tax scam causing immense losses to the national exchequer. Employees of several large hotels and restaurants in

FBR internal audit reveals massive withholding tax scam

ISLAMABAD: An internal audit of the Federal Board of Revenue (FBR) had unveiled a massive scam worth billions in withholding tax regime. Director-general (DG) of Internal Audit has written a letter to the member of Inland Revenue regarding scams in

Govt to ensure transparent, automated tax system: Finance Adviser

ISLAMABAD: Adviser to Prime Minister on Finance Abdul Hafeez Shaikh has said the present government is continuing with reforms for a transparent and automated tax system. The finance adviser was speaking at a ceremony to release tax directory for parliamentarians

FBR releases 2018 tax directory for parliamentarians

ISLAMABAD: The Federal Board of Revenue (FBR) has issued its tax directory of the parliamentarians for the Tax Year 2018. Advisor to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh appreciated the efforts of the FBR for compiling and

FBR launches mobile app for income tax filing

ISLAMABAD: The Federal Board of Revenue (FBR) has launched a user-friendly mobile application for filing income tax returns and also introduced a new and simplified tax return form to facilitate filers. FBR member inland revenue Chaudhry Muhammad Tariq briefed media

FBR directs customs authorities to curb smuggling of food items

ISLAMABAD: The Federal Board of Revenue (FBR) has directed customs authorities to curb the smuggling of food items out of the country in coordination with other institutions. The FRB said the federal government brought an anti-smuggling ordinance to check such

FBR directed to pay income tax refunds up to Rs50 million

ISLAMABAD: Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh has directed the Federal Board of Revenue (FBR) to make payments of all income tax refunds of up to Rs 50 million in the next couple of weeks. “The government

FPCCI urges FBR to resolve commercial importer’s problems

KARACHI: President Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Anjum Nisar has expressed concern over anomalies in the federal budget 2020-21 and assured commercial importers to raise voice in front of policymakers. During a meeting with Amin Yousuf

SBP introduces automation of tax refunds project

KARACHI: Governor State Bank of Pakistan (SBP) Dr Reza Baqir held an online meeting with the business community to seek feedback on an ongoing project of automation of payment of tax refunds. The meeting was attended by the office-bearers of

Customs orders to open shipping companies from Saturday

KARACHI: Member-Customs (Operations) FBR Syed Tariq Huda has with the Federation of Pakistan Chamber of Commerce and Industry (FPCCI)’s proposal to minimize human interaction. Both have made sure social distancing in the presence of COVID-19 pandemic. They have also appointed

FBR to maintain advance FED on tobacco leaf

ISLAMABAD: The Federal Board of Revenue (FBR) has said that advance Federal Excise Duty (FED) on tobacco leaf will remain unchanged for the upcoming fiscal year 2020-21. The FBR told a Special Committee of the National Assembly on Agricultural Products

FBR plans on reducing 5% FED for juice industry

ISLAMABAD: The Federal Board of Revenue (FBR) has planned to reduce or abolish the Federal Excise Duty (FED) for the juice industry in the coming budget. As per sources, the budget markers of the FBR have been reviewing budget proposals

Finance adviser urges BoI, FBR chiefs to facilitate foreign investors

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Tuesday held a meeting with Chairman Board of Investment (BOI) Atif Bokhari and Chairperson Federal Board of Revenue (FBR) Nausheen Javaid Amjad. They discussed measures

FBR tax, duty collection increases by 10.4% in April

ISLAMABAD: Federal Board of Revenue has released the information about the taxes and duties collected in the month of April 2020 showing a 10.4 percent growth in collections. According to official figures, the FBR said it has collected Rs. 256.679

FBR extends sales tax, federal excise return filing date

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline for payment and submission of sales tax and federal excise return for the tax period of March 2020. According to a notification issued by FBR, “In exercise of the

FBR to provide direct electronic transfer of tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) has devised a centralised system of online payment of Sales Tax, Federal Excise Duty (FED), and Income Tax refunds directly in the bank account of the taxpayers. FBR has requested the taxpayers to update

FBR issues notices to 100 KP doctors over assets beyond income

Federal Board of Revenue (FBR) has issued notices to over 100 doctors from Khyber Pakhtunkhwa today (Thursday) for possessing assets more than their income. In this regard, FBR has also prepared a list of doctors that includes 100 physicians from

Tax return filing deadline will not be extended: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has notified there would be no further extension in the deadline for filing the income tax returns for the tax year 2019.  In a press statement, the FBR said the tax authority would reinstate

Shabbar Zaidi’s exit

It seems that FBR chairman Shabbar Zaidi, who was brought with much optimism to spearhead the PTI government’s tax reforms, might be on his way out. The tax authority has failed to meet the tax revenue target in line with

Chairman FBR Shabbar Zaidi denies rumours of his resignation

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Tuesday denied rumours surrounding his resignation, claiming that he was unable to perform his duties due to health issues. Speaking to media Shabbar Zaidi said, “I have not withdrawn from

Mini-budget

An IMF delegation is in Islamabad for the second review of the economic situation for the bailout package given to Pakistan last year. The talks are expected to last for around two weeks and on completion, the IMF could release

Shopping? Show your NIC!

The new law The government’s relaxation has now lapsed and the condition to submit a copy of the NIC on every purchase above Rs50,000 is now effective from February 1. Shoppers will now have to submit a copy of the

Compulsory to show CNIC to purchase over Rs50,000: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) declared on Saturday that it was compulsory for a person to display his or her Computerized National Identity Card (CNIC) if he/she wanted to purchase a commodity of more than Rs50,000 from a

Shabbar Zaidi expected to take long sick leave from FBR

ISLAMABAD: The Pakistan Tehreek-i-Insaf government’s favorite for tax reforms, Chairman  Federal Board of Revenue (FBR) Shabbar Zaidi is expected to leave for health reasons with constantly growing revenue shortfalls against the target for the second year in a row. Mr.

FBR initiates crackdown against illegal trading of cigarettes

ISLAMABAD: The Federal Board of Revenue (FBR) has initiated a crackdown against the trading of illegal cigarettes across the country. FBR in its notice has asked retailers, cigarette making industries, wholesalers and shopkeepers to stop the illegal trade across the

Shabbar Zaidi to resume FBR duties on January 20

ISLAMABAD: Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has announced to resume his office duties from January 20, putting to rest rumours over any friction with the prime minister. The FBR  spokesman earlier said, “Chairman FBR will be the

FBR traces 10,000 people involved in tax evasion

ISLAMABAD: The Federal Board of Revenue (FBR) investigations have disclosed about 10,000 people were allegedly involved in tax evasion. According to FBR officials, during investigation of their cash transactions, the department traced about 10,000 people, who allegedly involved in tax

FBR committed to improve imports, says Shabbar

ISLAMABAD: The chairman Federal Board of Revenue has said on Tuesday that tax collection body is committed to curb the under-invoicing of imports “to save local industry” In a post on Twitter, Shabbar Zaidi said, FBR is seriously working to