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News Others April 4, 2014

July-March fiscal year 2014: FBR raises WHT demand of over Rs 32 billion

Date: April 04, 2014

The Federal Board of Revenue (FBR) has raised withholding tax demand of over Rs 32 billion
during July-March 2013-14, which would result in substantial recovery of billions of rupees
through effective monitoring and audit of withholding agents. Sources told Business Recorder
here on Thursday that the Directorate General of Withholding Taxes had made huge tax demand
of Rs 32 billion against the withholding agents during the period under review.

News Others April 4, 2014

Tax Evasion

Two Foreign IT Firms’ Officials Held

Date: April 04, 2014

The Directorate General of Intelligence and Investigation Inland Revenue (IR) on Thursday
arrested two high-profile executives of an international IT giant in Karachi, selling computer
products and accessories on alleged involvement in tax evasion. Sources told Business Recorder
here on Thursday that it was the first of its kind of case where the directorate has successfully
nabbed senior executives of a top IT company. The agency has taken action against the local
office of the international IT company.

News Others April 1, 2014

Proposal Under Consideration to Impose Tax on Agriculture Sector

Date: 31 March, 2014

Punjab Minister for Finance Mujtaba Shuja-ur-Rehman on Saturday said that taxes have been
levied only on affluent segments of society, while there is also a proposal under consideration to
impose tax on agriculture sector. While talking to various delegations of the PML-N workers in
Lahore, Mujtaba said that property tax, motor vehicle tax and tax on services are the major
sources of provincial income and government is taking solid steps to simplify the tax
collecting/paying system.
He added that present government has launched many public welfare oriented projects, so that to
uplift the socio-economic status of the masses. Mujtaba told the PML-N activists that an amount
of Rs 102 billion is being utilised on the provision of standardised health facilities, which is 10.9
percent of the total budget. He said huge amount of Rs 7.5billon is being spent on the provision
of free treatment and medicines to the poor and destitute in public sector hospitals of the
province. He further said government is spending Rs 244 billion on education sector which is 26
percent of the total budget.