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Author Archives: M. Faizan

AGP directs FBR to take action against M/s Int’l Complex Projects on concealment of income

audit

ISLAMABAD: Auditor General of Pakistan (AGP) detected the case of non-levy of tax on concealment of income and assets amounting to Rs16,074.90 million by Corporate Regional Tax Office (CRTO) Karachi and recommended to Federal Board of Revenue (FBR) to take action as per law to recover the losses and responsibility may be fixed on the official or the officer at ... Read More »

No information received from Swiss authorities regarding hidden wealth of Pakistanis: Asad Umar

Asad Umar Pic

ISLAMABAD: Federal Minister for Finance, Revenue and Economic Affairs Asad Umar has informed the National Assembly that no information has been received from Swiss authorities under Convention for the Avoidance of Double Taxation with respect to taxes on income (ADTA). While replying a question regarding the hidden wealth of Pakistanis in Switzerland in pursuance of avoidance of double taxation agreement ... Read More »

FBR CRTO registers FIR against owner of Toyota Central Motors Saleem Habib Godil

first-information-report

ISLAMABAD: Federal Board of Revenue (FBR) has accelerated operation against tax defaulters and tax evaders. On the direction of Federal Board of Revenue chief commissioner, Regional Tax Office team has arrested a sales executive of Toyota Central Motors Mohammad Amir Sudagar while the owner of car showroom Saleem Habib Godil will appear before the commissioner CRTO on Monday (today). Corporate ... Read More »

FBR directs field formations to ensure proper record-keeping & reconciliation

FBR chairman Jahanzeb

ISLAMABAD: Federal Board of Revenue (FBR) has directed the field formations to ensure proper record-keeping and reconciliation between import general manifesto, seizure register, detain register and auction lots of each entry of confiscated goods and vehicles. FBR has also issued instructions to field formations for proper monitoring and taking appropriate action under the law against persons at fault and involved ... Read More »

3487 customs cases involving Rs20,160m still pending in courts

revenue

ISLAMABAD: An amount of Rs20,160 million is still stuck up in customs legal cases in different courts due to legal hurdles. According to Federal Board of Revenue customs wing, there are 3,487 cases pending at different levels in courts including the Supreme Court and High Courts. The data showed that 207 cases related to Customs Islamabad, involving amount of Rs334 ... Read More »

FBR detects irregular claim of reduced rate of ST by black listed companies

Investigations Photo

ISLAMABAD: Federal Board of Revenue (FBR) has detected Rs1,013.465 million irregular claim of reduced rate of sales tax by three black registered companies. FBR has directed the Regional Tax Office-III Karachi to take stern action against the officials at fault and proceed for recovery of government revenue. According to condition (xiii) of SRO 1125 (1) 2011 dated 31st December 2011, the ... Read More »

Registration of mobile phones will generate huge revenue for country: Member Customs Jawwad Agha

SENATOR RUBINA KHALID, CHAIRPERSON SENATE STANDING COMMITTEE ON INFORMATION TECHNOLOGY AND TELECOMMUNICATION PRESIDING OVER A MEETING OF THE COMMITTEE AT PARLIAMENT HOUSE, ISLAMABAD ON JANUARY 15, 2019.

ISLAMABAD: Federal Board of Revenue (FBR) Member Customs Jawwad Awais Agha has informed Senate Standing Committee for Information Technology that the measures taken for registration of mobile phones will generate huge revenue for the country. He has assured the committee that all possible steps will be taken to facilitate the overseas Pakistanis at airports regarding the registration of mobile phones. The ... Read More »

Pakistani seamen facing difficulties in obtaining visas to join vessels at ports: Ali Haider Zaidi

Ali-Zaidi-1

ISLAMABAD: Minister for Maritime Affairs Ali Haider Zaidi has admitted that in recent years, due to strict visa policies Pakistani seamen are facing difficulties in obtaining visas to join vessels at different foreign ports. He stated this during the reply of a question asked by Member National Assembly Abdul Shakoor Shad in the National Assembly meeting. He informed the Parliament that ... Read More »

FBR directs field offices to actively follow pending cases

fbr

ISLAMABAD: Federal Board of Revenue (FBR) directed the field offices to actively follow the cases pending at various fora and assign the cases to advocates possessing profound knowledge and good reputation. Federal Board of Revenue also directed the field offices to pass orders strictly in line with applicable law and file references involving question of law only and follow the ... Read More »

FBR four field formations failed to deduct WHT Rs483.28m from nine tax payers

withholding tax (WHT)

ISLAMABAD: Federal Board of Revenue (FBR) four field formations including Karachi and Hyderabad failed to deduct withholding tax worth Rs483.28 million from nine taxpayers. Sources told Customs Today that Federal Board of Revenue directed these field formations to take action as per law to recover the loss and fix responsibility against officials at fault. According to details nine taxpayers under ... Read More »

FBR detects 3798 non-registered persons having industrial electricity connections

FBR detects 3798 non registered persons having industrial electricity connections copy

ISLAMABAD: Federal Board of Revenue has detected 3798 non registered persons having industrial electricity connections liable to be compulsory registered under the sales tax and income tax laws. These non-registered persons having industrial connections fall in the jurisdiction of Lahore Electric Supply Company (LESCO) and Islamabad Electric Supply Company (IESCO). According to details, these persons and their companies are paying millions ... Read More »

Auditor General asks FBR to withdraw sales tax exemptions

sales tax

ISLAMABAD: Auditor General of Pakistan (AGP) recommended to the Federal Board of Revenue (FBR) to withdraw sales tax exemptions on certain sectors including imports and especially zero-rating of sales tax on dairy and meat products. The Auditor-General further stated dairy and meat are the two fast-growing sectors of the economy while livestock including dairy, poultry and meat contributes roughly 12% towards ... Read More »

PM office seeks suggestions from FBR to waive-off tax on disabled persons

Taxcut

ISLAMABAD: Prime Minister Office, while taking notice on a complaint of a poor citizen, has directed Ministry of Commerce (MoC) and Federal Board of Revenue (FBR) to submit recommendations to waive-off tax on items being used by the disabled persons. Proposals have also been sought to waive-off income tax on the income of such government employees who have a severe ... Read More »

Govt directs MoC to release entire collection of export development surcharge

tax revenue

ISLAMABAD: Government directed the Ministry of Commerce (MoC) to release the entire collection under the head of export development surcharge for utilization for the specific purpose to boost the export of the country and develop a mechanism for the reconciliation of export development surcharge. Sources told Customs Today it was observed that rules and procedures governing the collection and remittance ... Read More »

AGP expresses displeasure on BTB for not broadening tax base

tax net

ISLAMABAD: Auditor General of Pakistan report has expressed dismay on the performance of Directorate General of Broadening Tax Base (BTB) Federal Board of Revenue and recommended for enhancing the tax base as there is need to evolve a mechanism for those persons, industrial and commercial consumers who are liable to compulsory registration under the tax laws. In a special audit ... Read More »

34% of tobacco sector paying just 2 percent tax, Chairman FBR briefs Senate Committee

FBR chairman Jahanzeb

ISLAMABAD: The Senate Special Committee rejected the tax department briefing on the matter of declining of production of tobacco sector and submitting fewer taxes by them. The special committee meeting was held at Parliament House under the chairmanship of Senator Kalsoom Parveen. Chairman Federal Board of Revenue (FBR) Jahanzaib Khan informed the committee that 66 percent people are doing legitimate ... Read More »

Difference in tax statements filed by Zong, Jazz, Ufone, Telenor pointed out

audit

ISLAMABAD: It has been revealed that six telecom companies including Jazz, Ufone, Telenor, Warid and Zong under the jurisdiction of Large Taxpayer Unit Islamabad had declared the huge amounts of withholding taxes in their annual income tax return which was higher than the figure of income tax withheld as shown by their corresponding withholding agents as per data available on ... Read More »

Auditor General asks FBR to bring NLC & FWO under tax net

audit

ISLAMABAD: Auditor General of Pakistan Javaid Jahangir has recommended to Federal Board of Revenue to bring National Logistic Cell (NLC)  and Frontier Works Organization (FWO) under tax net by invoking Article 165 A of the Constitution of Islamic Republic of Pakistan instead of granting exemption under section 49 (4) of the Income Tax Ordinance, 2001 Sources told Customs Today that ... Read More »

Rawalpindi I&I shows outstanding performance, seizes goods worth Rs7405m

zahid-Khokar

RAWALPINDI: Directorate General of Customs Intelligence and Investigations showed tremendous and historical performance under the guidance of Director General Muhammad Zahid Khokhar during the first six months (July to December) of the Current financial year (2018-19). Sources told Customs Today that Member Customs Dr. Jawwad Awais Agha has lauded the performance of the directorate. The biggest action in the history ... Read More »

Pakistan allows re-export of impounded seized vehicles to Qatar Embassy

new cars

ISLAMABAD: Pakistan keeping in view the bilateral relations with the State of Qatar has decided to give permission to the Qatar Embassy to re-export the seized vehicles by the Directorate General Customs intelligence and investigation Rawalpindi. Pakistan Foreign office in reply to a show-cause notice has proposed to the Collector of Customs Adjudication Islamabad that ‘keeping in view our bilateral ... Read More »