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Tag Archives: Federal Board of Revenue

FBR expects additional Rs50b through new taxes for revised Rs2691b target

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ISLAMABAD: Federal Board of Revenue has been expecting to collect additional Rs50b revenue through new tax measures to achieve the revised tax collection target of Rs2691 billion for fiscal year 2014-15. The FBR will collect Rs5 billion revenues through imposition of Regulatory Duty (RD) on furnace oil, during the remaining period (Feb-June) of the current fiscal year. The WHT rate ... Read More »

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

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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 »

Two Customs inspectors dismissed over inefficiency, misconduct

FBR inquiry

LAHORE: Federal Board of Revenue has dismissed two Inspectors of Model Customs Collectorate (MCC) each of Appraisement and Preventive Lahore over inefficiency and misconduct. As per details, Collectorate of Customs (Adjudication) Additional Collector Saira Agha has been appointed as Inquiry Officer to conduct inquiry on account of various acts of omission and commission committed by the accused officers including Muhammad ... Read More »

Rs65-70b/annum loss after POL prices cut: Govt may impose more taxes, reduce development budget

Ishaq dar

ISLAMABAD: The federal government may impose new taxes or reduce development budget at it has to face Rs65-70 billion per annum loss in revenue after declining trend in prices of petroleum products. Official sources said that defence expenditures and debt servicing could not be halted, so the deficit or loss could be overcome by slashing development budget or imposing new ... Read More »

Rs65-70b/annum loss after POL prices cut: Govt may impose more taxes, reduce development budget

Ishaq dar

ISLAMABAD: The federal government may impose new taxes or reduce development budget at it has to face Rs65-70 billion per annum loss in revenue after declining trend in prices of petroleum products. Official sources said that defence expenditures and debt servicing could not be halted, so the deficit or loss could be overcome by slashing development budget or imposing new ... Read More »

Tuesday December 16 – Monday December 22, 2014

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Amir Khan Marwat relinquishes charge of DG Post Clearance Audit

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ISLAMABAD: Amir Muhammad Khan Marwat, BS-22 officer of Pakistan Customs Service has relinquished the charge of the post of Director General, Directorate General of Post Clearance Audit, Islamabad. The officer, in pursuance of the notification of Federal Board of Revenue’s Establishment Division, relinquished the charge of the said post. Meanwhile, Mumtaz Ahmad, an officer of Inland Revenue Service, on promotion ... Read More »

FBR collects Rs900b against Rs973b target in 5 months of 2014-15 , faces Rs73b shortfall

FBR

ISLAMABAD: The Federal Board of Revenue faced a shortfall of Rs73 billion in revenue collection during the first five months (July-Nov) of this fiscal year 2014-15. The collection stood at Rs900bn against the target of Rs973bn. However, it recorded a marginal growth of 14 per cent over the last year’s collection of Rs789bn. The growth in revenue collection was the ... Read More »

Deputy Chemical Examiner of Customs retired

Customs House

ISLAMABAD: Mashkoor Ali Khan, Deputy Chemical Examiner (BS-18), Model Customs Collectorate of Exports, Custom House, on attaining the age of superannuation, will be retired from Government Service on December 09, 2014. Meanwhile, Imran Khan (IRS/BS-17) has assumed the charge of the post of Second Secretary, Accounting Wing, Federal Board of Revenue (HQ), Islamabad. He relinquished the charge of the post of ... Read More »

FBR Member Admin Shahid to appear in SHC

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ISLAMABAD: Federal Board of Revenue Member Administration Shahid Hussain Jatoi has left for Karachi to represent the FBR in a case filed in the Sindh High Court. He is expected to come back on Monday. Read More »

Rs22b rebate: OICCI urges FBR to return foreign investors’ tax refunds

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ISLAMABAD: Overseas Investors Chamber of Commerce and Industry (OICCI) Chief Executive Abdul Aleem has criticised Federal Board of Revenue (FBR) over withholding Rs22 billion of the foreign investors as tax refund. Abdul Aleem, while talking to media, said that the tax refunds were the major hurdle in ease of doing business in Pakistan. The OICCI perception survey 2013 had revealed ... Read More »

Taxing the parliamentarians

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According to official sources, a deadline set by the Federal Board of Revenue (FBR) has passed but a large number of parliamentarians have not yet filed their income tax returns. The FBR has already written to the speakers of the National Assembly, Senate and provincial assemblies, informing them that the board has allowed the parliamentarians to file their tax returns ... Read More »

FBR committee soon to issue final list of promoted officers

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ISLAMABAD: A meeting of Departmental Promotion Committee of the Federal Board of Revenue (FBR) was held on Wednesday. The agenda of the meeting was promotions of officers of Inland Revenue and Pakistan Customs from Grade-18 to -19. Federal Board of Revenue Chairman Tariq Bajwa presided over the meeting. The committee will soon issue a final list of promoted officers. Read More »

FBR’s RTO-I recovers Rs 29m from bank accounts of 2 companies

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LAHORE: The Federal Board of Revenue (FBR) Regional Tax Office-1, Zone II recovered 29 million by attaching bank accounts of two companies. As per details, RTO-I regional tax office recovered Rs 4.2 million by attaching bank accounts of Info Tech  Company PVT. Official sources said that the account of the company was attached at Askari Bank Limited Branch Gulberg against ... Read More »

FBR chief, Member Customs direct Chief Collector Nazim to end smuggling, tax evasion

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KARACHI: Federal Board of Revenue Chairman Tariq Bajwa along with the Member (Customs) Nisar Muhammad Ali Khan on Tuesday visited Customs House Karachi. Both the high-ups of the FBR arrived at Customs House, Karachi at around 9.30am and held long hour meetings at the Chairman’s Secretariat with the officers concerned of the Pakistan Customs. The meeting was attended by the ... Read More »

FBR offers free assistance to taxpayers regarding e-filing and IRIS

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LAHORE: The Federal Board of Revenue (FBR) Regional Tax Offices have computer laboratories to train and facilitate taxpayers regarding the e-filing and new software IRIS. Talking to Customs Today, an official said the FBR has computer labs since the automation of the department and experts are available to resolve issues of taxpayers regarding the new software and e-filing. He said ... Read More »

FBR Chief Bajwa chairs meeting at Port Qasim Collectorate

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Chairman Bajwa lauds measures taken by MCC Port Qasim for examination of containers at Qasim International Container Terminal   KARACHI: Federal Board of Revenue (FBR) Chairman Tariq Bajwa on Monday visited Model Customs Collectorate (MCC) of Port Qasim and chaired a meeting. MCC-Port Qasim Collector Surraiya Butt, Additional Collectors Irfan Javed, Ehsan Ali Shah and other officers attended the meeting. ... Read More »

FBR decides to extend last date for filing of tax returns on traders’ request

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ISLAMABAD: The Federal Board of Revenue has decided to extend last date for the filling of tax returns on traders’ request. The FBR said that the All Pakistan Tax Bar Association, Federation of Pakistan Chambers of Commerce and Industry and various other trade and business organisations had requested for extension in the last date for the filling of tax returns. ... Read More »

FBR approves Suleman’s appointment at special monitoring cell of Finance Division

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ISLAMABAD: The Federal Board of Revenue has approved the appointment of Suleman Yaqub Khan at the special cell at Finance Division and he will be joining the office in next two or three days. In February this year, Suleman Yaqub Khan was transferred and posted as Second Secretary, FBR (Hq), Islamabad and in September, he.was appointed Second Secretary, (Management Customs-IV) ... Read More »

NADRA likely to issue tax-payer cards before Dec15

NADRA

KARACHI: The Federal Board of Revenue (FBR) assigned a task to National Database and Registration Authority (NADRA) for issuing cards to tax-payers which is about to complete. According to reports before December 15, 2014 these cards will be issued to all the tax-payers on their homes addresses who have submitted their tax returns in 2013. These cards will help FBR ... Read More »