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Author Archives: Shahid Minhas

FBR delegation holds talks with IMF team

ISLAMABAD: A delegation of Federal Board of Revenue (FBR), headed by its Chairman Jehanzeb Khan held negotiations with the officials of International Monetary Fund (IMF) in connection with the expected bailout package and hinted at raise in tax collection target by Rs600b in the next fiscal year. The sources said that the FBR officials briefed the IMF officials about tax ... Read More »

FBR takes notice of increase in smuggling of tyres

ISLAMABAD: Federal board of Revenue (FBR) has taken notice of increase in the smuggling volume of tyres in the country and decided to devise a comprehensive strategy in the tax policy in order to discourage the smuggling against the legal import of tyres. As per sources, rise in smuggling of tyres is due to discouraging duty and taxes policies from the government ... Read More »

FBR decides not to extend final date of sales tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) has decided not to extend the date of sales tax refund bonds from April 10. Official sources from FBR told Customs Today that the board had earlier extended the date of sales tax returns from March, 25 to April 10, 2019, in order to facilitate the taxpayers. The board has amended Section 67-A of ... Read More »

SC issues detailed verdict in excessive tax collection by cellular companies case

ISLAMABAD: Supreme Court of Pakistan has released its written verdict related to excessive tax collection on calls being charged by the cellular companies. The verdict has been written by a two member-bench of the apex court comprising Justice Qazi Faez Isa and Justice Ijazul Ahsan. According to the verdict, the federal and provincial governments were asked to submit details of ... Read More »

FBR directs field formations to ensure timely deduction of WHT

ISLAMABAD: Federal Board of Revenue (FBR) has directed filed formations to ensure timely deduction of withholding tax from development funds provided through Public Sector Development Fund (PSDF) and Annual Development Project (ADP) and also provide funds details of all districts of Punjab province. According to official sources, the board has issued an official letter to field formations of RTO Lahore, RTO-II ... Read More »

FBR seeks money trail of Rs37m from ex-president Asif Zardari

ISLAMABAD: Federal Board of Revenue (FBR) has issued a notice to former President of Pakistan Asif Ali Zardari under Anti-Money Laundering (Amendment) Act, 2017 and advised him to provide the money trail of Rs 37 million, it is learnt here. Official sources told Customs Today that the board in its notice advised the former president Asif Ali Zardari to provide ... Read More »

FBR prepares list of 2000 taxpayers having luxurious life

ISLAMABAD: Federal Board of Revenue (FBR) prepared the list of 2,000 taxpayers having luxurious life. The list included cricketers, bureaucrats, Industrialists and politicians. Official sources told Customs Today that on the special directives of Prime Minister Imran Khan the board has prepared list of 2,000 taxpayers by evaluating the tax returns, which will be further moved to prime minister after ... Read More »

FBR to start survey in twin cities to dig out potential taxpayers

ISLAMABAD: Federal Board of Revenue (FBR) has decided to start door to door survey of potential taxpayers in the twin cities (Islamabad and Rawalpindi) and advised the field formations to spread awareness among the masses prior to the campaign against the tax evaders. According to official sources, the board has decided to launch door to door survey campaign in Islamabad ... Read More »

Govt directs FBR to review pending refunds of Rs7100m of TCP

ISLAMABAD: Government has directed the Federal Board of Revenue (FBR) to review the pending refunds of Rs7100 million of Trading Corporation of Pakistan (TCP) and recommended to adjust the refunds amount with the interests due on the loan taken from the banks by the Trading Corporation of Pakistan, it is learnt here. Official sources told Customs Today that at least ... Read More »

FBR Chairman Jahanzaib Khan to review revenue collection measures in Karachi today

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Dr. Jehanzeb Khan will visit Karachi on Saturday, 16th March (today) to review efforts being made towards broadening of tax base, curbing sales tax evasion, audit of withholding taxes and clearance audit of containers. Official sources told Customs Today that FBR chairman will meet chief collectors, chief commissioners and other officials, business community, ... Read More »

FBR concludes probe of 15 cases related to Panama Papers scam

ISLAMABAD: Federal Board of Revenue (FBR) has confirmed that investigation into 15 cases related to the persons named in Panama Papers’ leaks has been completed. Federal Board of Revenue (FBR) sources said that about 450 persons had been named in Panama Papers case having offshore companies. FBR has acquired details of 291 persons and investigation into 15 cases have been ... Read More »

FBR to impose 70pc sales tax on supply of maize

ISLAMABAD: Federal Board of Revenue (FBR) has decided to impose at least 70 percent of sales tax on the supply of maize, it is learnt here. Official sources told Customs Today that the board has reviewed and sought suggestions from the stakeholders including commerce ministry and advised them to provide feedback prior to the next ECC meeting. The board has ... Read More »

ASO recovers narcotics worth of Rs35m from Toyota Land Cruiser

ISLAMABAD: Collectorte of Customs, Anti-Smuggling Organization (ASO) seized 490 kilograms of narcotics along with carrier vehicle worth of Rs35 million. Sources told Customs Today that Collector Seema Raza Bokhari received an information that narcotics would be smuggled from Khyber Pakhtoon Khawa to Punjab through a white Toyota Land Cruiser (Lexus). She directed the Additional Collector Ashfaq Khan who immediately constituted ... Read More »

FBR decides to establish new field formations to expand tax net

ISLAMABAD: Federal Board of Revenue (FBR) has decided to further expand its network across the country, it is learnt here. Official sources told Customs Today that the board has decided to further expand its field formations network and establish seven new Regional Tax Offices (RTOs), three new Large Taxpayers Units (LTUs) and 18 Inland Revenue (IR) offices across the country ... Read More »

FBR to start awareness campaign for beneficiaries of Tax Amnesty Scheme 2018

  ISLAMABAD: Federal Board of Revenue (FBR) has decided to start an awareness campaign for the beneficiaries of Tax Amnesty Scheme 2018 in order to exhale their fear of action against them, it is learnt here. Official sources told Customs Today that the board in this regard has prepared a clarification memorandum which is pending for approval and the campaign ... Read More »

FBR working to bring transactions through Easypaisa & Western Union under tax net

ISLAMABAD: Federal Board of Revenue (FBR) has started working to document the transfer of money through Easypaisa and Western Union and mechanism in this regard is being prepared, it is learnt here. Official sources told Customs Today that the board with the aim to broaden the tax net and document the international money transfer via both the applications Easypaisa and ... Read More »

FBR introduces ADRP to bring domestic resources under tax net

ISLAMABAD: Federal Board of Revenue (FBR) has introduced Automated Domestic Resource Mobilization Program (ADRP) with the aim to bring the domestic resources in the tax net, it is learnt here. Official sources told Customs Today that the board with the collaboration of World Bank (WB) launched Automated Domestic Resource Mobilization Program based on Information Communication Technology for the purpose to ... Read More »

FBR raids Green School, Medina Cash & Carry, Top Builder on tax evasion

ISLAMABAD: Federal Board of Revenue (FBR) has raided Green School, Medina Cash & Carry and Top City Builder involved in tax evasion and confiscated important record and computers. Official sources told Customs Today that the board under its drive against tax evaders has formed teams and raided the Green School situated in Diplomatic Enclave, Medina Cash and Carry and a ... Read More »

FTO shows concerns over complaints filed against tax authorities

ISLAMABAD: Federal Tax Ombudsman (FTO) has raised the concerns regarding the harassment of the litigator by tax authorities after they submitted the complaints with FTO. Official sources told Customs Today that the Federal Tax Ombudsman has received several complaints from the taxpayers regarding the harassment by the tax authorities, while the FTO has decided to consult with the FBR to ... Read More »

DGTR conducts workshop on “Preparing of Budget and other Financial Statements”

  ISLAMABAD: Federal Board of Revenue (FBR) wing of Directorate General of Training and Research Customs has conducted a workshop on the theme of ‘Preparing of Budget and other Financial Statements’ for the officers and officials of the FBR. The board has conducted the workshop before the upcoming budget 2019-2020 preparation. The trainer Director (Finance) at STI, Establishment Division Safdar ... Read More »