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Tag Archives: FBR Chairman

2,350 pending cases in apex courts cost Rs 200b to national exchequer

ISLAMABAD: Over 2,350 cases have been pending in apex courts costing Rs 200 billions to national exchequer. “Increasing misunderstanding of revenue laws, flexibility of some laws and trivialization of cases are some of the main factors responsible for pendency of these cases”. As per details, over 1550 cases in Honourable Supreme Court and about 800 cases in High Courts making ... Read More »

Collaborative efforts needed for better revenue collection: Tariq Bajwa

ISLAMABAD: FBR Chairman emphasized Members of FBR to expedite the efforts to achieve the revenue target for FY2014-15. As per details, FBR Chairman Tariq Bajwa presided an important meeting on budget/revenue reforms and their execution plans to achieve the revenue target for FY 2014-15. The Meeting was held at Federal Board of Revenue (FBR) head quarter here the other day. ... Read More »

Dar, Misbah meeting ends cricketers’ tax issue

ISLAMABAD: After finding themselves in hot waters for their tax filings, the members of Pakistan cricket team have requested the finance minister to direct the Federal Board of Revenue (FBR) to collect outstanding taxes of cricketers at a flat rate of 10 per cent. National team captain Misbahul Haq along with Test cricketer Azhar Ali met with Finance Minister Ishaq ... Read More »

FBR to start awareness campaigns about revised finance bill

Islamabad: Federal Board of Revenue (FBR) has decided to organize seminars and conferences with collaboration of chambers of commerce and trade unions to guide business community on revised finance bill. As per details, FBR Chairman Tariq Bajwa directed FBR Member Tax Facilitation Riffat Shaheen, to start nationwide awareness campaigns for business and trade community on revised bill. The decision has ... Read More »

FBR Chairman returns back from Umrah

ISLAMABAD: FBR Chairman Tariq Bajwa has returned back home after performing Umrah and joined his office on Monday. After meeting revenue target and getting appreciation from the government, the FBR Chairman went to Saudi Arabia for performing Umrah on two official leaves at the end of last week and returned back on the first working day of this week.  Read More »

SCCI pleas FBR for issuing longstanding refunds

SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) has expressed grave concerns over the inordinate delay in the prolonged pending duty draw back and sales tax refund claims of Sialkot exporters. SCCI President Dr. Sarfraz Bashir said that Sialkot’s exporters were much perturbed due to their prolonged stuck capital. He said that this critical situation was badly affecting business and ... Read More »

FBR to collect Rs160b in one week

ISLAMABAD: Federal Board of Revenue has collected net taxes of Rs 2,217 billion until June 23. Rs 101 billion refunds and rebates are included in the sum. This takes the net revenue figures reach a total of Rs 2,116 billion. FBR has yet to collect Rs 159 billion in remaining one week of the current fiscal year ending on June ... Read More »

FBR union suggests one-day salary donation for IDPs

LAHORE: The Federal Revenue Alliance Employees Union (FBR Union) has suggested the government to donate their one day salary to the Internally Displaced Persons (IDPs) of North Waziristan. In a letter written to FBR Chairman Tariq Bajwa, Prime Minister Nawaz Sharif and leader of the Opposition in the National Assembly Syed Khursheed Shah, FBR Union Central President Mian Abdul Qayyum ... Read More »

FBR chief yet to visit Customs House, Karachi

KARACHI: Federal Board of Revenue Chairman Tariq Bajwa is yet to visit Customs House, Karachi. FBR chairman is scheduled to hold series of meetings regarding the revenue collection status. Just a week remains before ending of the current fiscal year. FBR Chairman Tariq Bajwa will also visit the offices of Inland Revenue Service and Regional Tax Offices RTOs. Chief Collector ... Read More »

Member Customs visits Customs House, FBR chairman due today

KARACHI: Member Customs Nisar Muhammad Ali Khan has visited Customs House, Karachi. Strict security measures were witnessed during his visit to Customs House. Member Customs held several in-house meetings with Pakistan Customs officers related to field formations and Model Customs Collectorate of Preventive. It is pertinent to mention here that Federal Board of Revenue Chairman Tariq Bajwa was also scheduled ... Read More »

FBR chief, Member Customs due in Karachi today

KARACHI: Federal Board of Revenue Chairman Tariq Bajwa and Member Customs Nisar Muhammad Ali Khan are due to arrive in Karachi on Friday (today). Sources in FBR informed Customs Today that the FBR chief and Member Customs will hold closed door marathon of meetings with the high-ups of Pakistan Customs over the revenue collection status as the end of the ... Read More »

Dar unveils package to jack up exports

ISLAMABAD: Finance Minister Ishaq Dar extended support package to cover nine value-added non-textile products to boost exports. The announcement is expected to accelerate exports to European countries under the GSP Plus status. Winding up his budget speech, Dar said that drawback for local taxes and levies is to be given to exporters on FoB value of their enhanced exports if ... Read More »

No date extension for officials to submit returns: FBR

ISLAMABAD: Federal Board of Revenue has announced that there will be no extension in the last date for filing returns by FBR officials. According to sources in FBR, officers and staff of the Board were warned to submit their returns and details of their assets by June 16. It was clarified that special allowance of the officials who fail to ... Read More »

FBR fine-tunes Finance Bill 2014-15 for NA approval

ISLAMABAD: After compilation of proposals and recommendations provided by the members of both Upper and Lower houses and Senate’s Standing Committee on Finance as discussed during the different sessions of debate over the next budget, Federal Board of Revenue has finalised the Finance Bill 2014-15. Sources said that the proposals and recommendations of the Finance Bill have reached the Finance ... Read More »

Committee to sort out anomalies in budget from July: Tariq Bajwa

ISLAMABAD: Federal Board of Revenue will form a committee to identify and eliminate anomalies in Budget 2014-15 which will start working in July 2014. The committee will analyse the proposals regarding customs duty tariffs and exemptions forwarded by Federation of Pakistan Chambers of Commerce, other Chambers and various trade organisations. Sources in FBR informed Customs Today that FPCCI President Zakria ... Read More »

FBR reservations: Govt undertakes revision of FTAs, PTAs

ISLAMABAD: The Federal government has decided to reconsider the status of all standing Free Trade Agreements (FTA) and Preferential Trade Agreements (PTA) signed with different countries including China. Currently FTA-2 with China is also under consideration. As per details, the government has taken the decision following the Federal Board of Revenue reservations regarding all these agreements. The board has pinpointed ... Read More »

Dairy sector enjoys concessions: Bajwa insists FBR empowered to issue SROs

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa said that the government did not violate any law while issuing statutory regulatory orders (SROs), saying that the federal government had the legal authority to revise tax rates under Income Tax Ordinance 2001, Sales Tax Act, 1990 and Federal Excise Act, 2005. Talking to the media at Parliament House here, Tariq ... Read More »

FBR tightening noose around tax evaders: Bajwa tells senate committee

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has said that FBR is tightening the noose around tax evaders including people who pay lesser amount of tax despite owing more to national exchequer. He said this while attending a meeting of Senate’s Standing Committee on Finance. Bajwa informed the committee that taxes will be levied on stock markets as well ... Read More »

10,000 retailers to be brought into tax net, Senate body told

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has informed the Senate Standing Committee on Finance that top 10,000 retailers will be brought into the tax net under the new scheme proposed through Finance Bill (2014-15). Briefing the Senate Standing Committee here, Mr Bajwa informed that currently more than 2.5 million retailers were operating across the country, adding that ... Read More »

FBR Chairman seeks data of all cases, appeals from regional offices

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has directed all the regional offices to forward data of all kinds of ongoing cases and appeals under consideration along with the details of funds involved. In a letter written from FBR headquarters, Islamabad to regional offices of Customs, Excise and Inland Revenue, all the offices have been directed to send a ... Read More »