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Tag Archives: Shahid Hussain Asad

Misbah, Azhar’s bank accounts seized for non-payment of taxes

ISLAMABAD: Already facing severe criticism after losing series from Australia, now national skipper Misbah-ul Haq’s bank accounts have been seized for recovering due taxes. Federal Board of Revenue (FBR) spokesman Shahid Hussain revealed that batsman Azhar Ali’s accounts have also been frozen. He said, “Misbah has not paid taxes of 3.9 million rupees and Ali owes 1.5 million rupees in ... Read More »

FBR woman officer gets promotion purely on merit

ISLAMABAD: What can be described as surprising as well as pleasant, Prime Minister Nawaz Sharif approved the promotion of an FBR woman officer to Grade-22 position, despite having no political backing among the aspirants to the top slot. Interestingly, FBR officer Farzana Jabeen, from Inland-Revenue Service (IRS) cadre, is scheduled to retire from service with effect from October 22, 2014. ... Read More »

FBR collects Rs 134b amid Imran, Qadri’s sit-ins

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs 134 billion revenue until August 26 against Rs 110 billion collected during the corresponding period of the last year, depicting a 20 percent increase in the tax collection, said Shahid Hussain Asad, the member of the Inland-Revenue and spokesman for the Federal Board of Revenue (FBR). “The sit-ins by the Pakistan ... Read More »

FBR Chairman visits customs house

KARACHI: The Federal Board of Revenue (FBR) Chairman Tariq Bajwa has visited customs house, offices of Inland Revenue Services (IRS) and Regional Tax Offices (RTOs) here the other day. In his one-day visit, FBR chief held several meetings with the Chief Collectors, Collectors and directors of different wings, in which he stressed upon to broaden the tax net to achieve ... Read More »

Long marches, political upheavals demolish FBR’s efforts: Shahid Asad

LAHORE: Acting Chairman of Federal Board of Revenue (FBR) Shahid Hussain Asad has expressed his grave concern over long marches and political upheaval ahead of FBR’s efforts to broadening the tax net for strengthening the economy. He said that these impediments could cause huge loss to the national exchequer as local business across the country shut down in result. Acting ... Read More »

FBR to issue tax cards to 850,000 filers

ISLAMABAD: Federal Board of Revenue (FBR) will issue tax cards to about 8, 50,000 filers of tax returns which would help taxpayers to get tax favor on vehicles and property sale/purchase. FBR acting Chairman Shahid Hussain Asad told Customs Today that issuing of tax cards would benefit tax payers and they will get favors and exemptions on their withholding taxes. ... Read More »

Hyderabad Customs reluctant to fill vacant seats

HYDERABAD: Hyderabad Customs has failed to appoint new officers on many vacant seats tax officers even after passing 40 days. Also new appointed officers have yet not assigned duties and they are confused about their authority. On the other hand, taxpayers were also facing difficulties regarding submission of their tax returns and other tax related operations because the shortage of ... Read More »

FBR to tighten the noose around Swiss depositors

ISLAMABAD: Federal Board of Revenue has decided to tighten the noose around Pakistanis having black money in Swiss banks and to retrieve money back into Pakistan. The FBR acting Chairman Shahid Hussain Asad told Customs Today that a team of FBR experts will visit Switzerland 24th of this month to pursue Pakistan’s efforts to recover untaxed billions of dollars of ... Read More »

FBR exceeds revenue target by Rs 1 billion in July

ISLAMABAD: The committed work of field formation officers under new acting Chairman helped the Federal Board of Revenue (FBR) in exceeding the revenue collection target in July 2014 by one billion rupees as it collected Rs 138 billion during the month of July against Rs 137 billion target. Acting Chairman of FBR Shahid Hussain Asad while talking to Customs Today ... Read More »

Govt to re-shuffle FBR’s top officials

KARACHI: The federal government has been mulling over to reshuffle the top bureaucracy of Pakistan Customs, Inland Revenue Services (IRS), Regional Tax Offices (RTOs) and Directorate General of Customs Intelligence and Investigation. A source told Customs Today that the changes would be on cards at chief collector, collector and commissioner and director level. He said that the federal government was ... Read More »

Eid holidays: Exchequer likely to suffer Rs25-30b loss

ISLAMABAD: National exchequer may suffer Rs25-30 billion loss due to long holidays of Eid-ul-Fitr. Due to which revenue target of the first month of FY2014-15 could not be achieved. Acting FBR Chairman Shahid Hussain Asad told Customs Today that closure of businesses during Eid holidays will certainly affect the revenue collection. “At least Rs 6 billion revenue is being collected ... Read More »

Seminar held to explain budgetary changes to tax officials

ISLAMABAD: A one-day seminar on “Budgetary changes brought in through Finance Act 2014” was held at Federal Board of Revenue (FBR) Headquarters. Member Facilitation and Taxpayers Education (FATE) FBR, Ms Riffat Shaheen Qazi chaired the seminar. Officers from Regional Tax Office (RTO) Islamabad, RTO Rawalpindi, LTU Islamabad, RTO Peshawar and RTO Abbottabad attended the seminar. Chief Sales Tax and Automation ... Read More »

Bajwa’s absence: Race for FBR chairman post hots up

ISLAMABAD: The race for the Chairman post of the Federal Board of Revenue has been taking curious turns with the senior officers throwing their hats into the ring. After the FBR Chairman Tariq Bajwa left his office few days ago on leave, there were huge curiosity that “who will be the next FBR Chairman” if Mr. Bajwa will transferred to ... Read More »

Shahid Hussain Asad given look-after charge of FBR Chairman

ISLAMABAD: Member Inland Revenue Policy and FBR Official Spokesperson Shahid Hussain Asad has been given look-after charge of FBR Chairman during the leave period of Tariq Bajwa, FBR Chairman/Secretary Revenue Division w.e.f. 18th July, 2014 to 14th August, 2014. It is worthy to mention here that Customs Today had already mentioned in its story published on Saturday about Shahid Hussain ... Read More »

Govt decides to appoint Tariq Bajwa as Finance Secretary

ISLAMABAD: The government has decided to appoint FBR Chairman Tariq Bajwa as Finance Secretary, sources told Customs Today. Sources said that Tariq Bajwa will replace incumbent Finance Secretary Waqar Masood in the middle of August. Seat of FBR Chairman will be vacant after posting of Tariq Bajwa to the office of Finance Secretary. The federal government has also started mulling ... Read More »

FBR to collect Rs530b in two months

LAHORE: Federal Board of Revenue’s Member Inland Revenue Service and Official Spokesman Shahid Hussain Asad had said that FBR has collected tax to the tune of Rs 1,745 billion by April 30, as compared to Rs 1,505 billion in the previous year in the same duration as that of first ten months. He said that 530 billion rupees will have ... Read More »

FBR taking special measures to meet target: Shahid Asad

LAHORE: Federal Board of Revenue Official Spokesperson Shahid Hussai Asad has said that FBR will reinforce its collection mechanisms as it is taking special measures to meet target of 2,345 billion rupees. A source quoted Asad, who is also Member Inland Revenue, as saying that the government has decided not to put extra burden on masses through increasing sales tax ... Read More »

Target time 3-year: FBR works out phasing out Rs500b tax exemptions: Shahid Hussain

ISLAMABAD: The government has worked out phasing out tax exemptions worth Rs500 billion being offered in the head of sales tax/excise duty, income tax and customs duty over the next three years. Federal Board of Revenue (FBR) official spokesperson and Member Inland Revenue Shahid Hussain Asad informed that certain exemptions would be done away with in the upcoming budget for ... Read More »

Rs 65m WHT fraud: Q Mobile official released after assurance of clearing due taxes

KARACHI: Asif Ali Abro Assistant Director Intelligence and Investigation-Inland Revenue, Karachi said that Q Mobile Manager (Operations) Babar Sultan was detained yesterday by their three-member team in a Rs65 million withholding tax fraud case. Asif Ali Abro confirmed to the Customs Today that Q Mobile did not pay Rs65 million WHT for a year and they raided their office and ... Read More »

Rs 58m sales tax fraud: Q Mobile clears Rs40m after accountant’s arrest

ISLAMABAD: FBR Official Spokesperson and Member Inland Revenue Shahid Hussain Asad has confirmed that Q Mobile accountant was apprehended during a raid by Directorate of Intelligence and Investigation-Inland Revenue, Karachi in a sales tax fraud of Rs 58 million. Giving further details about the arrest and recovery made by the directorate, Shahid Hussain Asad revealed that Q Mobile accountant, whose ... Read More »