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Tag Archives: revenue collection

Revenue collection down due to smuggling: Deputy Minister Chanda

NEW DELHI: India Deputy Minister of Home Affairs, Gerry Chanda, said that government is concerned about the revenue losses it is incurring through rampant smuggling of goods into the country. Colonel Chanda said Government through the Zambia Revenue Authority (ZRA) is losing colossal sums of money due to smuggling. Col. Chanda said this at his office when British American Tobacco ... Read More »

Appraisement-West surpasses revenue target by Rs 533.88 million in March

KARACHI: The Model Customs Collectorate (MCC) Appraisement-West has collected Rs 21.32 billion during March against the set target of Rs 20.78 billion, with a surplus of Rs 533.88 million. The Appraisement-West collected revenue under the heads of customs duty (CD), sales tax (ST), income tax (IT) and federal excise duty (FED) during the said period. According to revenue statistics, the ... Read More »

6-month collection: FBR revenue up 14pc to Rs1,171,868m

ISLAMABAD: The FBR’s revenue collection has increased 14 percent to Rs1,171,868 million during the first six months of current financial year 2014-15, against Rs1,081,937 million in corresponding period of last year. According to the Federal Board of Revenue report, the board realized a gross collection of Rs1,230,376m and at the same time issued refunds of Rs58,508 million during the first ... Read More »

$15b reserves by Dec end, revenue collection up by 14.3%, remittances by 15.2% in 4 months: Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has once again claimed that the government will achieve $15 billion foreign exchange reserves target by December, 31 2014 against the present $14 billion as IMF to release the 3rd and 4th tranches on December 17. He said this while talking to the office-bearers of APNS. The minister revealed that international experts had predicted if ... Read More »

Rs60b shortfall in 5 months: FBR sets Rs286b revenue target for Dec

ISLAMABAD: Federal Board of Revenue (FBR) has set Rs286 billon revenue collection target for the current month of December 2014, amid the Rs60 billion revenue collection shortfall. FBR has collected Rs900 billion from July to November during the ongoing financial year against the target of Rs960 billion leaving shortfall. Sources said that FBR could not meet the first half target ... 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 »

FBR collects Rs180b in Oct with 17pc growth

ISLAMABAD: Federal Board of Revenue’s (FBR) gross revenue collection stood at Rs180 billion during the month of October this year against Rs156 billion it collected in October 2013, reflecting a growth of 17 per cent. The FBR has paid refunds/rebates of Rs8 billion during the month against Rs4 billion paid in last October. The Board has collected Rs750 billion during ... Read More »

FBR collects Rs63b ‘more’ revenue in July-Sept

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs563 billion in July-September of current fiscal year as compared to last year’s Rs500 billion, showing growth of 12 per cent. However, there is Rs20 billion shortfall as FBR collected Rs563 billion during the first quarter FY 2014 against the target of Rs583 billion. Sources said that despite the ongoing political turmoil, ... Read More »

Dastgir to visit Netherlands to improve trade ties

ISLAMABAD: Federal Commerce Minister Khurram Dastgir is scheduled to start a four-day official visit to Netherlands on coming Tuesday. The invitation for this visit was extended by Dutch Minster for Trade Ms Liliame Ploumen during her visit to Pakistan in May this year. During his stay in Amsterdam, minister will hold meetings with Dutch officials on matters of bilateral interest ... Read More »

Bajwa assures tax relief for solar industry

ISLAMABAD: Pakistan Solar Association Vice Chairman Nouman Yousafzai asked Federal Board of Revenue Chairman Tariq Bajwa to give tax compensation in solar system, in a meeting here on Wednesday. As per details, Nauman Yousaf was of the view that by reducing tax value more public could be benefitted from solar power in recent energy crisis faced by country. FBR chairman ... Read More »

Revenue rises 24pc in 16 days of September: Shahid Asad

ISLAMABAD: The Federal Board of Revenue (FBR) claimed to have collected Rs 112 billion in 16 days of the ongoing month which is 24 percent more than Rs 90 billion collected in the corresponding period of last year. According to FBR Member Inland Revenue (IR) and official spokesperson Shahid Hussain Asad, FBR revenue collection has witnessed a growth of 24 ... Read More »

LHC disposes of petition by SM Foods seeking quashing of FIR

MULTAN: The Multan bench of the Lahore High Court (LHC) has disposed of a petition filed by Saim Mobeen Food Company in case of mis-declaration of imported goods from Austria. The quashing of the FIR filed by the Saim Mobeen Food Company in case of mis-declaration in the import of iron rods used in the baking of biscuits was disposed ... Read More »

FBR Chairman Bajwa seeks list of seized vehicles from all collectorates

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Tariq Bajwa has sought all model customs collectorates to provide the details of all seized non-customs paid vehicles. As per details, in a notification issued by chairman office, it was stated that all model customs collectorates should send lists of non customs paid vehicles at warehouses and ports, seized by customs. It ... Read More »

Revenue Alliance Union asks FBR chief to accept demands

LAHORE: The Federal Revenue Alliance Employees Union (FRAEU) FBR Pakistan has sent a letter to the FBR chairman, asking him to accept their charter of demands or the union will call for a strike. The union reiterated its demands in the letter regarding the service structure policy for FBR employees from BS-1 to BS-16, grant of one time scale to ... Read More »

Traders seek govt permission to import textile machinery from India

ISLAMABAD: Traders and textile groups have asked the federal commerce ministry to allow them imports textile machinery from India. As per details, importers want to import boilers and gear boxes via Wagha Border as the cost of import is much higher in Karachi. Sources told Customs Today that some traders have imported gear boxes for textile machinery via Wagha Border ... Read More »

Customs reveals another multi-million scam by Telenor

ISLAMABAD: The Directorate General Customs Intelligence and Investigation Islamabad has brought another mega scam of Rs 23 million duty evasion by Telenor into light. As per details, the customs has issued notice to the telecommunication service provider, Telenor, for its alleged involvement in another Rs 23 million duty evasion in mis-declaration/mis-classification. Telenor has assured the customs that they were ready ... Read More »

FBR to make e-filing of tax returns user friendly

SIALKOT: The Federal Board of Revenue (FBR) is removing flaws from E-filing system of tax returns submission to make it more user-friendly, to facilitate the business community and potential taxpayers. The FBR has launched an awareness seminar on “E-filing tax returns filing” at Gujranwala Chamber of Commerce and Industry (GCCI). The FBR chief of FATE Wing Islamabad Bukhtiar Muhammad, Secretary ... Read More »

Punjab fixes Rs 5.74 billion revenue target for Gujranwala

SIALKOT: The Punjab government has fixed a recovery target of Rs 5.74 billion as agricultural income tax, stamps duty, registration fees, land revenue tax and capital value tax on the sale, purchase and transfer of the properties and lands in Sialkot, Narowal, Gujrat, Hafizabad, Mandi Bahauddin and Gujranwala districts. According to the senior officials of the Board of Revenue Punjab, ... Read More »

PM, cabinet assure support to Bajwa on tax collections

ISLAMABAD: The Prime Minister Muhammad Nawaz Sharif instructed Federal Board of Revenue (FBR) Chairman Tariq Bajwa to start crackdown on tax evaders without any discrimination. He also told FBR chairman to broaden the tax net without taking any political pressure. As per details, FBR Chairman Tariq Bajwa has briefed the PM Nawaz and cabinet in a federal cabinet meeting on ... Read More »

Bajwa, US councillor meeting cancelled due to Imran, Qadri sit-ins

ISLAMABAD: The meeting between Federal Board of Revenue Chairman Tariq Bajwa and economic councillor of US Embassy has been cancelled due to security situation in the federal capital. As per details, economic councillor of US Embassy was scheduled to meet the FBR chairman at headquarter on Thursday, however, meeting has been cancelled due to sit-ins and marches by Pakistan Tehreek-e-Insaf ... Read More »