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Tag Archives: Federal Board of Revenue (FBR)

FBR, OECD join hands to introduce new global tax standards

OECD

ISLAMABAD: The Federal Board of Revenue (FBR) and Organisation of Economic Cooperation and Development (OECD) have joined hands to launch a programme for helping Pakistan enacting new global tax standards. After conducting three days of talks with Pakistani authorities, OECD in a statement said it aimed to launch an induction programme to assist the enactment of base erosion and profit ... Read More »

FBR obtains info about Pakistanis’ immovable properties in UK

page20_property

ISLAMABAD: The Federal Board of Revenue (FBR) has obtained information regarding immovable properties owned by Pakistanis in United Kingdom (UK). The information has been obtained with the assistance of Organization for Economic Cooperation and Development (OECD) and UK tax authorities, said FBR in a brief statement. According to the statement, the information was being analyzed by the board for taking ... Read More »

Govt mulling over to hike duty on over 1,000 imported items

Customs-duty1

ISLAMABAD: The federal government is planning to levy additional regulatory duty on more than a thousand imported items to generate $1.12 billion, which will assist in reining in the trade deficit Sources said that the new proposal is being finalized by the State Bank of Pakistan, Finance Division, Ministry of Commerce and Textile and the Federal Board of Revenue (FBR). As ... Read More »

Election candidates paid 20% more taxes in 2017 than 2016

Customs Export recovers evaded taxes and duties of Rs 7 18m copy

ISLAMABAD: The candidates, who are participating in the general elections 2018, paid over 20 per cent more taxes in fiscal year 2017 than 2016. Tax payments reported by the Federal Board of Revenue (FBR) and provided by the ECP reveal the tax payment history for a total of 15,911 candidates. There are more listed for the incoming election, but not ... Read More »

FBR extends Customs powers of FC, Rangers up to June next

pakistan-customs

ISLAMABAD: The Federal Board of Revenue (FBR) has extended anti-smuggling powers of Pakistan Rangers and Frontier Corps of Balochistan and Khyber Pakhtunkhwa up to June 30, 2019. These forces would continue to conduct physically examine/search persons, screen or x-ray bodies of suspected persons, and arrest of smugglers without warrant under the Customs Act, 1969. Sources in Pakistan Customs said these ... Read More »

Nine Customs officers of BS 17-18 transferred

FBR logo4

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted nine following officers of Pakistan Customs Service (PCS) of BS 17-18 with mediate effect. According to the notification, the officers who are drawing performance allowance prior will continue to draw this allowance on the new place of posting. All the transferred officers have been requested to relinquish/assume charge, using online HRMS facility ... Read More »

Rs1.172 trillion or Rs1.165 trillion: Dar’s figures contradict FBR revenue collection claim for 1H of FY15  

revenue figures

ISLAMABAD: The Rs1.165 trillion revenue collection figure reported by Finance Minister Ishaq Dar during his press contradicted the Rs1.172 trillion figure reported by the Federal Board of Revenue (FBR) for the first half of the current fiscal year, showing a Rs7 billion gap between the figure reported by both the minister and the FBR. It is to be noted that ... Read More »

Three Customs officers of BS 18-19 assume charge

FBR

ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications regarding charge relinquishment/assumption by the Pakistan Customs Service (PCS) officers of BS 18-19. Syed Asad Raza Rizvi (BS-19) has assumed charge of the post of Secretary (Mgt Customs-I), Federal Board of Revenue (HQ) after relinquishing the charge of the post of Additional Director (OPS), Directorate of Intelligence & Investigation-FBR, Lahore. On ... Read More »

77,000 people served notices: 15,000 out of 64,000 companies file income tax returns Dec 31

FBR

ISLAMABAD: Federal Board of Revenue (FBR) has given a list of 10,000 companies to the Securities and Exchange Commission of Pakistan (SECP) that have not filed their income tax returns yet. Sources said that only 15,000 out of over 64,000 registered companies filed income tax returns by the last date of December 31, 2014. The figure was also lower than ... Read More »

500,000 tax dodgers: LHC grants FBR access to any person’s account

FBR inquiry

LAHORE: The Lahore High Court (LHC) has granted Federal Board of Revenue (FBR) direct access to any person’s account in the country after rejecting petitions of various banks, which have challenged the authorisation given to FBR by the federal government. LHC judge Justice Ijazul Ahsan announced a detailed verdict of 30 pages. The banks through their counsels stated that FBR’s ... Read More »

0.5 million tax dodgers: LHC grants FBR access to any person’s account

FBR inquiry

LAHORE: The Lahore High Court (LHC) has granted Federal Board of Revenue (FBR) direct access to any person’s account in the country after rejecting petitions of various banks, which have challenged the authorisation given to FBR by the federal government. LHC judge Justice Ijazul Ahsan announced a detailed verdict of 30 pages. The banks through their counsels stated that FBR’s ... Read More »

15,000 out of 64,000 registered companies file income tax returns Dec 31

FBR

ISLAMABAD: Federal Board of Revenue (FBR) has given a list of 10,000 companies to the Securities and Exchange Commission of Pakistan (SECP) that have not filed their income tax returns yet. Sources said that only 15,000 out of over 64,000 registered companies filed income tax returns by the last date of December 31, 2014. The figure was also lower than ... Read More »

6-month collection: FBR revenue up 14pc to Rs1,171,868m

FBR oficce

ISLAMABAD: The FBR’s revenue collection has increased 14 percent to Rs1,171,868 million during the first six months of current financial year 2014-15, against Rs1,081,937 million in corresponding period of last year. According to the Federal Board of Revenue report, the board realized a gross collection of Rs1,230,376m and at the same time issued refunds of Rs58,508 million during the first ... Read More »

Three Inland Revenue officers assume charge after promotion to BS-19

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ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications regarding charge relinquishment/assumption by the Inland Revenue Service (IRS) officers after their promotion to BS-19. Syed Bahadur Ali has relinquished the charge of the post of Additional Commissioner-IR (OPS/BS-18), Regional Tax Office, Multan and assumed the charge of the post of Additional Commissioner-IR (BS-19), RTO, Multan. Javed Anwar has assumed the ... Read More »

Customs Examiner dismissed over inefficiency, misconduct

FBR inquiry

ISLAMABAD: Federal Board of Revenue (FBR) has dismissed Ejaz Ahmed, Examiner (BS-16), Model Customs Collectorate of Export, Karachi over inefficiency and misconduct. As per details, MC Port Muhammad Bin Qasim Collector Dr Jawwad Uwais Agha was appointed as Inquiry Officer to probe into the account of various acts of omission and commission committed by the accused officer costing inefficiency and ... Read More »

Enforcement-South misses tax collection target by Rs 140.42 million

Port Qasim

KARACHI: The Enforcement-South Collectorate has collected customs duty of Rs 1868.08 million in December 2014 against target of Rs 2008.50 million with a shortfall of Rs 140.42 million. The Enforcement-South comprises of Model Customs Collectorates (MCC) of Preventive, Hyderabad, Exports, Exports (Port Qasim), Quetta and Gwadar. According to details, the MCC-Preventive collected Rs 1341.64 million customs duty in December 2014 ... Read More »

Rs68b likely shortfall: Govt yet to revise Rs2.81tr target; Rs1,652b to be collected in 6-month

fbr

ISLAMABAD: The Federal Board of Revenue will have to collect Rs 1,652 billion in remaining six months (January-June) of the ongoing financial year achieve the annual tax collection target of Rs2.81 trillion while the government has yet to revise the revenue target as it is likely to face a shortfall of Rs 68 billion owing to reduction in oil prices ... Read More »

Three Inland Revenue officers of BS-19 assume charge

FBR

ISLAMABAD: Federal Board of Revenue (FBR) has issued notification of charge relinquish/assumption of Inland Revenue Service (IRS) officers after their promotion to BS-19. Fazal-e-Subhan has relinquished the charge of the post of Deputy Commissioner-IR, Regional Tax Office, Abbottabad and assumed the charge of the post of Secretary (BS-19), FBR (HQ), Islamabad on December 29, 2014. Muhammad Nabeel Rana has relinquished ... Read More »

Juneid Akram posted as DG Post Clearance Audit

fbr

ISLAMABAD: Juneid Akram, a BS-20 officer of Pakistan Customs Service, has been transferred and posted as Director General (OPS), Directorate General of Post Clearance Audit, Islamabad with mediate effect. The officer, who was posted as Director, Directorate of Intelligence & Investigation, FBR, Faisalabad, has been asked to relinquish/assume charge using online HRMS facility made available at all FBR major field ... Read More »

12.2% growth: FBR collects Rs1,157b in July-Dec 2014 against Rs1,031b of last year; Rs30b shortfall in Dec

fbr

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs1,157 billion during July to December of the current fiscal year as it collected Rs1,031 billion during the same period of last financial year, reflecting the growth of 12.2 per cent. During the month of December 2014, the Board faced Rs30 billion revenue shortfall as it collected Rs253 billion against the target ... Read More »