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Author Archives: M. Faizan

FBR to create taxpayer friendly system of taxation: Member FATE Nausheen Javaid Amjad

ISLAMABAD: A group of students of Department of Government and Public Policy from the School of Social Sciences and Humanities at National University of Sciences & Technology (NUST) visited FBR House to learn about the working of FBR and its role in fiscal policy, tax collection and revenue generation. Member Facilitation and Taxpayers Education (FATE) Wing FBR Ms. Nausheen Javaid ... Read More »

NA Finance Committee directs FBR to hold meeting with industrial & commercial importers

ISLAMABAD: The Finance Committee of national Assembly has recommended to FBR to arrange a meeting with the stakeholders of industrial and commercial importers at the earliest. The committee recommended that suggestions received from real estate, construction sector and Pakistan Automative Manufacturers Association (PAMA) may be forwarded to FBR for favorable consideration. The meeting of the Standing Committee on Finance, Revenue ... Read More »

FBR Member Dr. Iqbal advises non-filers to take advantage of tax amnesty scheme

ISLAMABAD: Federal Board of Revenue (FBR) Member Inland Revenue Policy Dr. Muhammad Iqbal has warned the tax evaders that tax amnesty scheme date will not be extended, therefore, they should take advantage and declare their moveable and immovable assets, otherwise action will be take against them after end of the scheme Talking to Customs Today, Dr. Iqbal said that amendments ... Read More »

Difference of tax receipts between FBR and SBP stands at Rs16099.93m

ISLAMABAD: Variation in the figures of tax receipts (net) of direct and indirect taxes between the Federal Board of Revenue and the State Bank of Pakistan is Rs16099.93million. The lapse was pointed out after the scrutiny of the record of the State Bank of Pakistan maintained by Main Office, Karachi, and Director Research and Statistics, Federal Board of Revenue. As ... Read More »

AGP launches inquiry into hirings made during 2010-11 to 2014-15 in KPT

ISLAMABAD: The Auditor General of Pakistan has started an inquiry into the appointments made during 2010-11 to 2014-15 in the Karachi Port Trust. An inquiry into the matter is also underway in the ministry of port and shipping. There were 1450 appointments made against various posts in the Karachi Port Trust in scales 1 to 8 and Basic Scales 09 ... Read More »

FBR proposes hike from five to 10pc duty on luxury items in upcoming budget

ISLAMABAD: The Federal Board of Revenue has suggested an increase of five to 10 percent duty on cigarettes and imported food, electronic items and use of luxury articles including milk powder, chocolates, energy drinks, pet foods, cheese, Juicers, blenders, air-conditioners, microwave ovens, electric ovens, LCD TVs, toys and all kinds of cosmetics in the coming budget of Financial Year 2018-19. ... Read More »

Trade Dispute Resolution Act, 2018 to promote global trade with Pakistan

ISLAMABAD: The National Assembly Standing Committee on Commerce and Textile, discussed the draft Trade Dispute Resolution Act, 2018 aimed at providing swift and effective resolution of disputes relating to the export as well as import. Committee met here with Siraj Muhammad Khan in the chair and observed that the act would help in promoting international trade in Pakistan by aligning ... Read More »

Taxpayers from salaried classes excluded from FBR’s audit list

ISLAMABAD: The Federal Board of Revenue (FBR) has announced that the taxpayers from salaried classes, including government officials and private sector employees, have been excluded from the FBR’s audit list. Chairing the ceremony for Computerized Balloting for Audit, Advisor to PM Haroon Akhtar Khan said that tax amnesty scheme is in the interest of Pakistan and it has not been ... Read More »

RIMS to help make economy documented: Haroon Akhtar

ISLAMABAD: The Federal Board of Revenue (FBR) has sought information from the Civil Aviation Authority, mobile phone companies, National Data base Registration Authority (NADRA) and commercial banks to bring tax evaders into the tax net, said Haroon Akhtar Khan, Special Assistant to the Prime Minister on Revenue. Addressing the participants at the launching ceremony of Restaurant Invoice Management System (RIMS) ... Read More »

Tax amnesty scheme will pave way for rapid national development: Haroon Akhtar

ISLAMABAD: Special Assistant to Prime Minister on Revenue, Haroon Akhtar Khan has said the recent tax amnesty scheme is different from the schemes announced earlier and it will pave the way for rapid national development. While speaking at a pre-budget meeting at Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Haroon Akhtar Khan said that the scheme has been ... Read More »

ABAD welcomes acceptance of proposal by PM on property tax

ISLAMABAD: Association of Builders and Developers of Pakistan (ABAD) Chairman Arif Yousuf Jeewa has welcomed the announcement of unified property tax by Prime Minister Shahid Khaqan Abbasi and said that they were glad to hear that the Prime Minister accepted their proposal regarding property tax. Taking to Customs Today , the ABAD chairman said that ABAD was working since the ... Read More »

Govt has doubled country’s GDP growth, tax revenues: Haroon Akhtar

ISLAMABAD: Special Assistant to the Prime Minister on Revenue/Federal Minister Senator Haroon Akhtar Khan has said the government has doubled the country’s GDP growth as well as the tax revenues and halved inflation during the last five years. “The economic indicators themselves are a proof of the gains we have achieved on these fronts and this has been made possible ... Read More »

Customs AFU surpasses FED collection target by 74.47pc

LAHORE: Customs Air Freight Unit (AFU) Allama Iqbal International Airport (AIIA) surpassed revenue collection target of Federal Excise Duty (FED). According to the details, Federal Board of Revenue assigned revenue collection target of Rs880 million to Air Freight Unit, while the AFU successfully collected Rs954.47 million, which is more than the assigned target. The Customs Air Freight Unit was assigned ... Read More »

FBR registers 16% growth in first nine months

ISLAMABAD: Federal Board of Revenue is struggling hard to achieve the revenue target of current financial year but it seems difficult because in last quarter FBR would have to collect Rs1400 billion to meet the set revenue target for 2017-18. According to Federal Board of Revenue, during first nine months of the current financial year, the board recorded a provisional ... Read More »

FBR launches Knowledge Base Portal for guidance of taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) has launched first version (beta) of Knowledge Base Portal for guidance and facilitation of taxpayers. The portal was launched jointly by Member Customs Muhammad Zahid Khokhar and Member Information Technology Khawaja Adnan Zaheer. According to the details, Knowledge Base Portal is a digital help library for taxpayers, tax collectors and other related stakeholders. ... Read More »

FBR, NTC sign MoU for electronic exchange of information

ISLAMABAD: Federal Board of Revenue (FBR) and National Tariff Commission (NTC) have signed a Memorandum of Understanding (MoU) for electronic exchange of information for accurate and timely implementation of notifications for levying countervailing, anti-dumping and safeguard duties. The electronic exchange will help save time, reduce cost of doing business and improve efficiency. INTRA (Integration of Regulatory Authorities) is initiative of ... Read More »

Taxpayers outreach programme to promote culture of tax compliance: Member FATE Nausheen Amjad

I ISLAMABAD: As part of the Federal Board of Revenue (FBR) taxpayers outreach programme aimed at acknowledging the contribution of taxpayers and offering them further help and assistance in a bid to broaden the tax base, Ms Nausheen Javaid Amjad, Member Facilitation and Taxpayers Education (FATE) Wing FBR met the top leadership of Pakistan State Oil Company Limited at the ... Read More »

Online tax collection system will provide relief, convenience to taxpayers: Haroon Akhtar

ISLAMABAD: The State Bank of Pakistan and the Federal Board of Revenue (FBR) have formally launched online tax collection system. This will allow the tax payers to pay FBR taxes and duties using Internet banking accounts or ATMs without the hassle of visiting banks. The system was launched by Haroon Akhtar, Special Advisor to Prime Minister on Revenue, in a ... Read More »

FBR Member Customs Zahid Khokhar orders probe into misuse of green channel facility at Port Qasim

ISLAMABAD: Federal Board of Revenue Member Customs Muhammad Zahid Khokhar has stated that he has ordered the chief collector Karachi to investigate the scam of misuse of green channel facility at the Port Qasim and report back to him. During an exclusive interview with Customs Today, the FBR Member Customs disclosed that China Tax Administration has agreed to provide the ... Read More »

Govt not in favour of counter-productive taxation, says Haroon

ISLAMABAD: Special Assistant to Prime Minister on Revenue and Federal Minister Senator Haroon Akhtar Khan has said that the government is willing to review and adjust high taxation rates in case they are found to be stymieing growth of any sector. “The government is not in favour of counter-productive taxation as our prime objective is to promote growth and help ... Read More »