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News Others May 9, 2014

Tax recovery, registration: DGI&I IR empowered to carry out assessment, audit

Date: May 09, 2014 The Federal Board of Revenue has empowered the Directorate General (Intelligence & Investigation), Inland Revenue (IR) to enforce filing of income tax returns, wealth statements and compulsory registration of new taxpayers, authorising the directorate to carry out assessment/provisional assessment and audit of the registered persons for recovery of taxes. The FBR […]

News Others April 16, 2014

Tax directory unveiled

Date: April 16, 2014 The Federal Board of Revenue Tuesday issued Annual Tax Directory containing the names of more than 800,000 taxpayers for (Tax Year 2013) disclosing titles and tax payments of the income tax return filers, corporations, Association of Persons (AOPs) and individuals. The tax directory has not disclosed the annual income of all […]

News Others April 16, 2014

FBR not satisfied with RTOs” and LTUs” performance

Date: April 16, 2014 The Federal Board of Revenue has expressed dissatisfaction over the performance of the Chief Commissioners of Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) in the collection of estimated revenue through budgetary measures introduced in Finance Act, 2013. Sources told Business Recorder here on Tuesday that the FBR has conveyed […]

News Others April 14, 2014

Import of 993 items from Sri Lanka: FBR announces tariff concessions

Date: April 12, 2014 The Federal Board of Revenue (FBR) announces tariff concessions on the import of 993 items from Sri Lanka under Free Trade Agreement (FTA). In this regard, the FBR superseded SRO 570(I)/2005 dated June 6, 2005, through SRO 280(I)/2014 issued here on Friday. According to the notification, the Federal Government exempts import […]

News Others April 4, 2014

FBR’s erratic ARC a cause of problem for taxpayers

Automated Revenue Collection (ARC) is ‘Pain in the Neck’ Date: April 04, 2014 Federal Board of Revenue’s (FBR’s) automated revenue collection (ARC) is ‘pain in the neck’, creating hurdles instead of facilitating the tax payers. The existing system being implemented by the FBR in collaboration with Pakistan Revenue Automation Private Limited (PRAL) is not delivering […]

News Others April 4, 2014

Tax Collection

FBR Lobbies to Switch Back to ‘Old Circle System’ Date: April 04, 2014 ‘Imported’ administrative reforms implemented over the last 12 years in the Federal Board of Revenue (FBR) with the help of $149 million in external assistance could not work in Pakistan, believe top tax officials who have now started lobbying for reverting back […]

News Others March 29, 2014

FBR Verifying Exemption Certificates

Date: March 29, 2014 The Federal Board of Revenue is verifying authenticity of thousands of exemption certificates used for clearance of imported consignments without payment of withholding tax during July 1, 2013 – January 2014. The FBR issued instructions to field formations here on Friday. The FBR has launched verification of exemption certificates on national […]