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Author Archives: M. Faizan

Three different taxes on cell phones clubbed into one: Hammad Azhar

ISLAMABAD: Three different taxes on cell phones have been clubbed into one. A combined tax will be imposed on import of mobile phone sets,” State Minister for Revenue Hammad Azhar along with Member Customs Awais Jawwad said in a press briefing regarding imposition of taxes under the third finance bill. Hammad Azahar said Rs400 tax will be imposed on cell ... Read More »

Clearance of goods imported from China against CoO bearing unverifiable signatures

ISLAMABAD: It has been revealed that the Customs Collectorate of Preventive Karachi cleared ten consignments by granting the benefit of China Pakistan Free Trade Agreement (CPFTA) wherein the specimen signatures of the authorized Chinese officials were not tallied with those put on the Certificate of Origin (CoO). According to FBR sources, the government has sustained the loss of Rs82.74 million ... Read More »

FBR gets actionable tax information of 150,000 cases from 28 jurisdictions: Hammad Azhar

ISLAMABAD: State Minister for Revenue Hammad Azhar has disclosed that Pakistan has obtained actionable tax information of approximately 150,000 cases from 28 jurisdictions. Talking with Customs Today at the Parliament House, he said the data obtained is being examined and cross matched against the existing tax payers. He said it is hoped that the substantial number of non-filers and under ... Read More »

FBR launches drive to identify high risk plazas, shopping malls & chain of luxury apartments

ISLAMABAD: Federal Board of Revenue (FBR) has launched countrywide exercise wherein high risk plazas, shopping malls, residential towers and chain of luxury apartments are being identified. According to FBR sources, thousands of unregistered cases have been identified and likewise massive concealment in the cases of existing taxpayers has been unearthed. Sources said that actions are also underway in respect of ... Read More »

FBR starts crackdown against high net worth tax evaders

ISLAMABAD: Federal Board of Revenue (FBR) has launched a crackdown on high net worth tax evaders. The certain parameters are set to identify high net worth tax evaders having properties above Rs 20 million, vehicles above 1800CC and annual rental income above Rs10 million. FBR sources told Customs Today that under the crackdown against high net worth tax evaders, 3,121 notices ... Read More »

PM Imran shows displeasure over 6pc growth in revenue collection

ISLAMABAD: Prime Minister Imran Khan and Finance Minister Asad Umar showed dissatisfaction over the poor performance of tax revenue collection by the Federal Board of Revenue. According to the details, Finance Minister has directed to the Chairman FBR to enhance the enforcement efforts. The Federal Board of Revenue has collected Rs1,725 billion in six and a half months (July to ... Read More »

AGP directs FBR to take action against M/s Int’l Complex Projects on concealment of income

ISLAMABAD: Auditor General of Pakistan (AGP) detected the case of non-levy of tax on concealment of income and assets amounting to Rs16,074.90 million by Corporate Regional Tax Office (CRTO) Karachi and recommended to Federal Board of Revenue (FBR) to take action as per law to recover the losses and responsibility may be fixed on the official or the officer at ... Read More »

No information received from Swiss authorities regarding hidden wealth of Pakistanis: Asad Umar

ISLAMABAD: Federal Minister for Finance, Revenue and Economic Affairs Asad Umar has informed the National Assembly that no information has been received from Swiss authorities under Convention for the Avoidance of Double Taxation with respect to taxes on income (ADTA). While replying a question regarding the hidden wealth of Pakistanis in Switzerland in pursuance of avoidance of double taxation agreement ... Read More »

FBR CRTO registers FIR against owner of Toyota Central Motors Saleem Habib Godil

ISLAMABAD: Federal Board of Revenue (FBR) has accelerated operation against tax defaulters and tax evaders. On the direction of Federal Board of Revenue chief commissioner, Regional Tax Office team has arrested a sales executive of Toyota Central Motors Mohammad Amir Sudagar while the owner of car showroom Saleem Habib Godil will appear before the commissioner CRTO on Monday (today). Corporate ... Read More »

FBR directs field formations to ensure proper record-keeping & reconciliation

ISLAMABAD: Federal Board of Revenue (FBR) has directed the field formations to ensure proper record-keeping and reconciliation between import general manifesto, seizure register, detain register and auction lots of each entry of confiscated goods and vehicles. FBR has also issued instructions to field formations for proper monitoring and taking appropriate action under the law against persons at fault and involved ... Read More »

3487 customs cases involving Rs20,160m still pending in courts

ISLAMABAD: An amount of Rs20,160 million is still stuck up in customs legal cases in different courts due to legal hurdles. According to Federal Board of Revenue customs wing, there are 3,487 cases pending at different levels in courts including the Supreme Court and High Courts. The data showed that 207 cases related to Customs Islamabad, involving amount of Rs334 ... Read More »

FBR detects irregular claim of reduced rate of ST by black listed companies

ISLAMABAD: Federal Board of Revenue (FBR) has detected Rs1,013.465 million irregular claim of reduced rate of sales tax by three black registered companies. FBR has directed the Regional Tax Office-III Karachi to take stern action against the officials at fault and proceed for recovery of government revenue. According to condition (xiii) of SRO 1125 (1) 2011 dated 31st December 2011, the ... Read More »

Registration of mobile phones will generate huge revenue for country: Member Customs Jawwad Agha

ISLAMABAD: Federal Board of Revenue (FBR) Member Customs Jawwad Awais Agha has informed Senate Standing Committee for Information Technology that the measures taken for registration of mobile phones will generate huge revenue for the country. He has assured the committee that all possible steps will be taken to facilitate the overseas Pakistanis at airports regarding the registration of mobile phones. The ... Read More »

Pakistani seamen facing difficulties in obtaining visas to join vessels at ports: Ali Haider Zaidi

ISLAMABAD: Minister for Maritime Affairs Ali Haider Zaidi has admitted that in recent years, due to strict visa policies Pakistani seamen are facing difficulties in obtaining visas to join vessels at different foreign ports. He stated this during the reply of a question asked by Member National Assembly Abdul Shakoor Shad in the National Assembly meeting. He informed the Parliament that ... Read More »

FBR directs field offices to actively follow pending cases

ISLAMABAD: Federal Board of Revenue (FBR) directed the field offices to actively follow the cases pending at various fora and assign the cases to advocates possessing profound knowledge and good reputation. Federal Board of Revenue also directed the field offices to pass orders strictly in line with applicable law and file references involving question of law only and follow the ... Read More »

FBR four field formations failed to deduct WHT Rs483.28m from nine tax payers

ISLAMABAD: Federal Board of Revenue (FBR) four field formations including Karachi and Hyderabad failed to deduct withholding tax worth Rs483.28 million from nine taxpayers. Sources told Customs Today that Federal Board of Revenue directed these field formations to take action as per law to recover the loss and fix responsibility against officials at fault. According to details nine taxpayers under ... Read More »

FBR detects 3798 non-registered persons having industrial electricity connections

ISLAMABAD: Federal Board of Revenue has detected 3798 non registered persons having industrial electricity connections liable to be compulsory registered under the sales tax and income tax laws. These non-registered persons having industrial connections fall in the jurisdiction of Lahore Electric Supply Company (LESCO) and Islamabad Electric Supply Company (IESCO). According to details, these persons and their companies are paying millions ... Read More »

Auditor General asks FBR to withdraw sales tax exemptions

ISLAMABAD: Auditor General of Pakistan (AGP) recommended to the Federal Board of Revenue (FBR) to withdraw sales tax exemptions on certain sectors including imports and especially zero-rating of sales tax on dairy and meat products. The Auditor-General further stated dairy and meat are the two fast-growing sectors of the economy while livestock including dairy, poultry and meat contributes roughly 12% towards ... Read More »

PM office seeks suggestions from FBR to waive-off tax on disabled persons

ISLAMABAD: Prime Minister Office, while taking notice on a complaint of a poor citizen, has directed Ministry of Commerce (MoC) and Federal Board of Revenue (FBR) to submit recommendations to waive-off tax on items being used by the disabled persons. Proposals have also been sought to waive-off income tax on the income of such government employees who have a severe ... Read More »

Govt directs MoC to release entire collection of export development surcharge

ISLAMABAD: Government directed the Ministry of Commerce (MoC) to release the entire collection under the head of export development surcharge for utilization for the specific purpose to boost the export of the country and develop a mechanism for the reconciliation of export development surcharge. Sources told Customs Today it was observed that rules and procedures governing the collection and remittance ... Read More »