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Traders to stage protest against new tax laws in Islamabad

ISLAMABAD: The trader community has decided to launch a strong protest against the promulgation of the Tax Laws (Third Amendment) Ordinance 2021 on 29th September in Islamabad. The protest will be held in front of the Federal Board of Revenue

SAPM Mahmood Moulvi advises Customs and FBR to probe ocean carrier surcharges

KARACHI: Special Assistant on Maritime Affairs Mr Mahmood Moulvi has advised Customs and the FBR to seek an explanation from ocean carriers about congestion and other surcharges levied on exporters and importers. The prime minister’s aide suggested that the Customs

FPCCI raises concern over sweeping powers granted to FBR

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has raised concerns over the Finance Bill 2021-22 which could grant sweeping power to the Federal Board of Revenue (FBR). According to the proposed changes, the FBR will have the

In a first, FBR seizes luxury vehicle under Anti-Benami Initiative in Islamabad

ISLAMABAD: In a first of its kind operation, the Federal Board of Revenue’s (FBR) Anti Benami Initiative confiscated a luxury vehicle n the federal capital. According to a statement, the initial clue to this vehicle’s ownership was traced from Excise

FBR introduces online e-hearings of tax audits, assessments cases

ISLAMABAD: The Federal Board of Revenue (FBR) has introduced online electronic hearing of tax audits and assessments cases. According to a statement, the FBR has launched the software of electronic hearing of tax audit and assessment cases to facilitate the

FBR’s growth shows policies have led to economic revival: PM

ISLAMABAD: The Federal Board of Revenue (FBR) surpassed its revenue collection target to Rs384bn in April, the second highest collection in the second half of current fiscal year (FY21). Prime Minister Imran Khan has commended FBR’s efforts on achieving growth

FBR achieves growth of 57% in April to collect Rs384 bn

ISLAMABAD: The Federal Board of Revenue (FBR) surpassed its revenue collection target to Rs384bn in April, the second highest collection in the second half of current fiscal year (FY21). According to provisional data collected by the tax authorities, the FBR

FPCCI appreciates FBR for facilitating trade in tribal areas

ISLAMABAD: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has appreciated the decision of Federal Board of Revenue to facilitate trade in the erstwhile FATA. In a statement, FPCCI President Mian Nasser Hyatt Maggo and Vice President Nasir Khan

FPCCI President urges FBR to withdraw show cause notices

KARACHI: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Nasser Hyatt Maggo has urged the Federal Board of Revenue (FBR) to withdraw show-cause notices issued under section 161(1A) of Income Tax Ordinance 2001 read with rule 44(4)

Taxpayers can be added on ATL after paying surcharge: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has uploaded the Active Taxpayers List (ATL) for Tax Year 2020 on March 1. According to the bureau, the number of Income Tax Returns for 2020 reached 2.62 million on 28th February, 2021 as

PM lauds FBR for achieving seven-month revenue target

ISLAMABAD: Prime Minister Imran Khan commended the Federal Board of Revenue (FBR) on achieving seven-month revenue targets for the upcoming fiscal year and launching the Track and Trace System. “I commend FBR Field Formations on achieving 7-months revenue targets by

FBR to launch track and trace system in July

ISLAMABAD: The Federal Board of Revenue (FBR) has said the track and trace system would be rolled out from July 2021 and would help in enhancing revenue collection in the country. A meeting of the Senate Standing Committee on Finance,

FBR seeks budget proposals for next fiscal year

ISLAMABAD: The Federal Board of Revenue (FBR) has invited proposals from various stakeholders on Income Tax and Customs for consideration in the upcoming budget for the fiscal year 2021-22. “The Federal Board of Revenue is currently engaged in formulation of

FBR sends Atif Aslam a month notice to pay Rs 58 million tax

KARACHI: Singer Atif Aslam has been sent a tax notice worth 58 million by the Federal Board of Revenue (FBR) after the audit of his income for the year 2018. Atif Aslam has been given one month’s notice to pay the

FBR collects 99.7% tax revenue target for first six months of fiscal year

ISLAMABAD: Federal Board of Revenue (FBR) has achieved over 99 percent tax target for the first six months of the ongoing fiscal year 2020-21 and has collected net revenue of Rs 2,204 billion. According to details, the Federal Board of

FBR seized Rs542mn worth smuggled cigarettes between July-Nov

ISLAMABAD: The Federal Board of Revenue (FBR) has intensified its operations against illicit and smuggled cigarettes across the country. “Tobacco sector is one of the leading sectors of revenue contribution and realizing this significance, FBR has instructed its field formations

Projects worth Rs157bn registered under PM’s construction package: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has said that 348 people have registered 389 projects with a total estimated cost of Rs157 billion so far under the Prime Minister’s construction package. The pace of registration is getting momentum as

FBR receives record taxes in five months

ISLAMABAD: The Federal Board of Revenue (FBR) has collected record taxes in July-November. According to a spokesperson of the Federal Board of Revenue (FBR), the body collected Rs. 1,686 billion in taxes during the five months from July to November,

FBR proposes Rs10 health tax on a pack of cigarettes

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed a health tax on a pack of cigarettes. A health tax of Rs. 10 on cigarettes has long been advocated by the anti-tobacco lobby to discourage smoking among the youth. Approval

FBR restores 2% income tax on chemicals, dye raw materials

KARACHI: The Federal Board of Revenue (FBR) has met the long-standing demand of the Pakistan Chemicals & Dyes Merchants’ Association (PCDMA) by removing Chemicals & Dyes raw materials from Part 3 (finished goods) and Put now in Part 2 (raw

Former FBR chief Shabbar Zaidi praises PM as ‘warrior against status quo’

ISLAMABAD: Former chairman of Federal Board of Revenue (FBR) Syed Shabbar Zaidi has vehemently rejected certain claims made by opposition leaders regarding his working relationship with Prime Minister Imran Khan. Jamiat Ulema-e-Islam (JUI-F) leader Maulana Fazlur Rehman made a reference

FBR sends notice over lavish wedding of businessman’s daughter in Lahore

LAHORE: The Federal Board of Revenue (FBR) has taken notice of the lavish wedding of the daughter of a prominent businessman in Lahore last week. Gujranwala’s chief commissioner of Inland Revenue served notice to Sheikh Muhammad Iqbal, director of Master

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