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Tag Archives: tax

Premier awards ‘Privilege cards’ to top taxpayers

ISLAMABAD: The Prime Minister Muhammad Nawaz Sharif handed over the Privilege Cards to top 100 taxpayers of different categories at Prime Minister’s office Auditorium. The cards will be valid for one year. As per details, the ceremony was also attended by Mr. Ishaq Dar, Finance Minister and Chairman Federal Board of Revenue (FBR), Mr. Tariq Bajwa. The scheme has been ... Read More »

LCCI asks FBR to withdraw SRO 608(I)/2014

LAHORE: Lahore Chamber of Commerce & Industry in a press release confirmed that all trade associations of city had rejected tax measures of SRO 608(I)/2014 unanimously and called for it’s immediately withdrawal. AS per details, trade associations of LCCI urged the government to facilitate the business community to put the economy back on track. The demand was raised at a ... Read More »

FBR to audit 42,000 tax payers for FY2013-14

ISLAMABAD: Audit selection of taxpayers will be held at FBR headquarters in September of this year. The selection will be made on the tax returns filed by taxpayers in year 2013. As per details, about 45 thousands taxpayers from cooperate and non-cooperate sector will be selected for audit for year 2013-14. Audit selection will be made through National tax number ... Read More »

Economic Survey 2013-14: GDP crosses 4pc, tax collection rises by 16.4pc

ISLAMABAD: Finance Minister, Senator Ishaq Dar on Monday launched the Economic Survey of Pakistan for the financial year 2013-14. The gross domestic product (GDP) has crossed 4 per cent, industrial growth recorded at 5.84 per cent as against 1.37pc last year, large-scale manufacturing registered growth of 5.135pc against 4.08pc last year, transport and communication recorded growth of 2.89 per cent ... Read More »

Govt succumbs to int’l pressure, NGOs to have tax exemption

ISLAMABAD: Succumbing to the international pressure, the govt has turned down the decision to bring NGOs in the tax net. FBR sources, however, said Finance Bill would be amended in the next budget, after which NGOs would have to submit details of income and expenditure as well as sources of income. European and other western countries had been pressing Pakistan ... Read More »

FBR denies tax waiver to Najam Sethi

ISLAMABAD: Federal Board of Revenue (FBR) clarified that tax waiver was not granted by government to PCB Chairman Najam Sethi. An FBR statement said: “It has been clarified that income tax amounting to Rs10,625,133 was imposed on Najam Sethi for the tax year 2009. On an appeal filed by the taxpayer, Commissioner (Appeals) Lahore cancelled the order creating the tax ... 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 »

An uphill task

The government has revised downward its overall fiscal framework in view of expected revenue shortfall faced by the Federal Board of Revenue (FBR) during the current fiscal year. In a crystal clear objective under the stringent IMF conditionalities, the main focus of the government is maintaining the budget deficit within the agreed limit with the Fund as both sides are ... Read More »

Authorities need to tap potential revenue-generating sectors: Siraj Khan

ISLAMABAD: Successive governments overcrowded and overburdened the Commerce and Textile Ministry through hiring of their ‘favourites’ without taking its capacity and planning into account which adversely affected the ministry’s performance. National Assembly Standing Committee on Commerce and Textile Chairman MNA Siraj Muhammad Khan made these remarks during an exclusive chat with Customs Today. Siraj said that the committee held its ... Read More »