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FBR braces for reply to address concerns of Japanese automobile companies

ISLAMABAD: In pursuance of the explanation sought by Finance Minister Ishaq Dar, the Federal Board of Revenue (FBR) is busy in preparing reply to the reservations expressed by the Japanese automobile companies. Japanese automobile companies have certain reservations regarding customs duties, withholding tax, refund and others and this time they used diplomatic channel to highlight their concerns and Japanese Ambassador ... Read More »

FBR transfers 13 IRS officers of Grade 17-19

ISLAMABAD: FBR has transferred and posted 13 IRS officers of Grade 17-19. Following officers are transferred: Read More »

FBR transfers 4 IRS officers of BS 19-21, Syed Ijaz Husain made Member Taxpayers Audit

ISLAMABAD: FBR has announced transfers/postings of four of Inland Revenue Service (BS-19-21). Following officers are transferred: Syed Ijaz Husain (Inland Revenue Service/BS-21) has been transferred from DG, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad and posted as Member (Taxpayers Audit) Federal Board of Revenue (Hq), Islamabad. Haroon Muhammad Khan Taren (Inland Revenue Service/BS-21) has been transferred from Member ... Read More »

FBR seeks nominations of IR officers for Senior Management Course

ISLAMABAD: Federal Board of Revenue (FBR) Establishment Division has sought nominations of BS-19 Officers of Inland Revenue Service for the forthcoming 17th Senior Management Course (SMC) at National Management College, Lahore and National Institute of Management, Karachi. According to a notification, FBR will arrange the nominations in order of seniority. The Board has requested the BS-19 officers of Inland Revenue ... Read More »

FBR to settle down low growth in provincial tax revenues

ISLAMABAD: The Federal Board of Revenue (FBR) has expectations that low growth in provincial tax revenues will settle down after witnessing an initial spurt following the devolution of sales tax collection. “The FBR was concerned over the low growth in provincial tax collection after rising substantially in the previous year, the pace of tax collection weakened in third quarter of ... Read More »

DC Kokab Farooq issues ONO in seizure case of black tea

ISLAMABAD: Deputy Collector Customs Adjudication Kokab Farooq has passed the order in original (ONO) No 217 of 2014 against Amanullah Khan r/o Upper Dir and Amjad r/o Charsadda, in the seizure case of foreign origin black tea. In the ONO, she released the 1,050 kg black tea against redemption fine of 30% of the customs appraised value in addition to ... Read More »

Finance Ministry ponders more taxes to curb tobacco use

Ishaq Dar-led ministry has sent proposal to Federal Board of Revenue (FBR) to increase taxes on tobacco products in Budget 2014-15    ISLAMABAD: The Finance Ministry proposed an increase in the excise duty by 23% and 13% on lower to upper slab of tobacco products respectively with an objective to curtail tobacco use. The ministry considered taxes as the single-most ... Read More »

Commerce Ministry finalising agenda for fifth session of Pakistan-Japan business dialogue

Japan-Pakistan Business Coordination Committee and Pakistan-Japan Business Forum are pursuing means to enhance bilateral trade   ISLAMABAD: The Commerce Ministry is finalising agenda for the upcoming fifth session of dialogue, Pakistan-Japan Government Business Dialogue, likely to be held in the federal capital. The 4th session was held in Tokyo in March 2012. “The dialogue will be held as a result of ... Read More »

UN to organise moot on e-learning for law enforcers

ISLAMABAD: The United Nations Office on Drugs and Crime (UNODC) is organising a national conference on e-learning for Pakistan’s law enforcement officials. The conference will be held on November 12 from 1000-1300 hours at Serena Hotel. This event is being jointly organised by UNODC, the Narcotics Control Division of the Ministry of Interior and Narcotics Control; and the National Police ... Read More »

ANF seizes 53kg heroin, 5kg opium worth Rs362.5m

ISLAMABAD: Anti-Narcotics Force (ANF), during its anti-smuggling drive in Peshawar, has seized 53kg heroin, 5kg opium worth Rs362.5 million during and arrested one drug trafficker and confiscated a vehicle as well. The ANF Peshawar, on a tipoff that drugs are being smuggled from Khyber Agency to Peshawar and later on to Punjab, established a picket on Bara Road and stopped ... Read More »

PNSC’s operaionalisation issues affect contract with PSO

ISLAMABAD: Operationalisation issues of the Pakistan National Shipping Corporation (PNSC) are negatively affecting the positive yields of the contract of afrieghtment (COA) with the Pakistan State Oil. The PNSC and PSO entered into a memorandum of understanding (MoU) in August 2012 and thereafter, signed a Contract of Afreightment (COA) after two months, i.e in October, followed by an Addendum in ... Read More »

FBR officials in Malaysia to attend seminar on double taxation treaties

ISLAMABAD: A two-member delegation of the Federal Board of Revenue (FBR) has arrived in Kuala Lumpur, Malaysia to attend a two-week long seminar on double taxation treaties. The treaties are conventions between two countries that aim at eliminating the double taxation of income or gains arising in one territory and paid to residents of another territory. They work by dividing ... Read More »

FBR Member Admin Jatoi for establishing effective Intelligence setup in Karachi

Agenda for meeting was to set up intelligence and investigation office in Karachi along with induction of officials to curb tax evasion   ISLAMABAD: Federal Board of Revenue Member Admin Shahid Hussain Jatoi has held a meeting with officials to discuss tax evasion in Karachi. The agenda for the meeting was to establish infrastructure of Intelligence and Investigation Department in ... Read More »

Sales Tax (Amendment) Ordinance promulgated to avoid SC order

ISLAMABAD: On the recommendations of the Finance Ministry, the government promulgated Sales Tax (Amendment) Ordinance 2014 in March this year to avoid implementation of the Supreme Court order. The said amendment ordinance amended sub-section (2) of section 3 B of the Sales Tax Act 1990. An official source at Finance Ministry told this scribe here the other day that as ... Read More »

Islamabad collectorate showing exemplary performance in current fiscal year

ISLAMABAD: The Model Customs Collectorate Islamabad is showing exemplary performance in the current fiscal year. The collectorate has collected total revenue Rs 1065.83 million under the heads of duties and taxes in October 2014 which is Rs 448.96 more than October’s target of Rs 616.87 and it is 87 percent more than the last year’s revenue. The collectorate has gathered ... Read More »

Ahsan Iqbal gives presentation about ministry’s performance

ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal has delivered a presentation to the federal cabinet pertaining to the ministry’s performance during the last 17 months and its future agenda. The minister highlighted that when the present government assumed the office, Planning and Development Division lacked autonomy and independent role and was a part of the Ministry of ... Read More »

FBR to recruit 600 Grade 1-16 officials of Customs, Inland Revenue

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to recruit as many as 600 Grade-1 to 16 officials to overcome a shortage of manpower. The recruitment aims at improving enforcement system. Ads will be published in the newspapers in this regard. The FBR is facing a shortage of manpower which is affecting its enforcement system. The former government had ... Read More »

FBR decides to establish Integrity & Performance Management Unit

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to establish Integrity & Performance Management Unit (IPMU) at HR Wing at Islamabad Headquarters. FBR through an office order stated Board-in-Council in its meeting held on 30-4-2014 (minutes circulated vide FBR/Revenue Division C.No. 6(96) S (BIC)/2013-14 dated 10-5-2014), has decided to establish Integrity & Performance Management Unit (IPMU) at HR Wing ... Read More »

FBR in pursuit of Rs2810b achieves Rs750b in Oct up from Rs661b, records 17% growth

ISLAMABAD: Federal Board of Revenue (FBR), in pursuit of Rs2810 billion target, has collected Rs750 billion during July-October this year against Rs661 billion in corresponding period of 2013-14. Sources said that during July to October 2014, FBR collected Rs265 billion as direct taxes, Rs355 billion as sales tax, Rs47 billion as federal excise duty and Rs86 billion customs duty. During ... Read More »

Investigation body yet to collect facts against Agility Logistics

ISLAMABAD: Investigation committee formed by the FBR could not collect facts against Agility Logistic Private Limited after a lapse of one year. It seems that a “hidden hand” does not want so, therefore, the committee failed to collect the facts in the case. The inquiry committee was established on 19 October 2013 in a meeting of the Federal Board of ... Read More »