Postings of BS-17 probationary officers notified
KARACHI: Federal Board of Revenue (FBR) has notified postings of 61 probationary officers of Inland Revenue Service (BS-17) with immediate effect.
Prosecution in multi-billion Afghan Transit Scam hangs in balance
KARACHI: The decision vis-a-vis revenue recovery in the mega-scale Afghan Transit Trade (ATT) scam- wherein imported goods meant for transit to Afghanistan were pilfered in Pakistan – hangs in balance…
Revenue collection by Pakistan Customs reaches Rs335 billion in four months
KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. four months (July-October 2016) stood at Rs335 billion as against Rs337 billion in the same…
IR Tribunal stays recovery of tax demand
KARACHI: Judical Member Inland Revenue Appellate Tribunal Muhammad Javed Zakaria has stayed the recovery of tax demand against M/s PAIR Investment Company Limited. The company’s representative stated that income tax…
Government revenues to be short of Rs145 billion as SHC strikes down GIDC Act
KARACHI: The government revenues would be short of Rs145 billion as the Sindh High Court (SHC) has struck down Gas Infrastructure Development Cess (GIDC) Act 2015 for being unconstitutional. In…
Pakistan Customs revenue collection surge 1.5 percent
KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. three months (July-September 2016) has surged by 1.5 percent to Rs246.165 billion as against Rs242.552…
MCC Gwadar surpasses revenue collection target
KARACHI: MCC Gwadar has exceeded Revenue Collection over the assigned target by massive 78 percent for the first quarter (July- September FY 2016-17. Total revenue collection target of the Collectorate…
Officials of Oil Section Kemari issued Appreciation Letters
KARACHI: Chief Collector Appraisement South Mohammad Zahid khokhar has acknowledged the extra-ordinary performance of Customs staff of Oil Section Kemari. Chief Collector has issued Appreciation Letters in the names of…
Pakistan Customs collect revenue of Rs159.17 billion in two months
KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. two months (July-August 2016) stood at Rs159.17 billion as against Rs159.547 billion in the same…
FBR notifies transfers and postings in IRS
KARACHI: The Federal Board of Revenue (FBR) has notified transfers/postings of BS-20 and BS-19 officers of Inland Revenue Service (IRS). The BS-20 officers shuffled include Dr. Muhammad Akram Khan is…
IRS officials promoted to Grade-16
KARACHI: The Federal Board of Revenue (FBR) has notified promotion of Inspector Inland Revenue and Assistant Private Secretary (APS) on regular basis as Inland Revenue Officer (BS-16). The promoted officials…
Internal Audit points short-realization of revenue by MCC Gwadar
KARACHI: The Directorate of Internal Audit – Customs has made an observation that MCC Gwadar short-realized an amount of Rs53.102 million from ship breakers during 2014-15. The Audit Team comprising…
Inland Revenue Tribunal strikes down audit proceedings against M/s Ahmed Medicose
KARACHI: Inland Revenue Appellate Tribunal Muhammad Javed Zakarya has set aside the order of DC Inland Revenue who had rejected 25 percent of the claim of purchases in the trading…
Inland Revenue Tribunal strikes down penalty imposed for non-filing of WHT statement
KARACHI: Inland Revenue Appellate Tribunal comprising Muhammad Javed Zakarya has set aside the penalties imposed on M/s Resilience Xpert Pvt Ltd by Commissioner Inland Revenue for non-filing of withholding tax…
FBR’s incompetency affecting its cases in Courts and Tribunals Losing billions of rupee cases in Tribunal as it didn’t follow it properly
KARACHI: The Ministry of Finance through Federal Board of Revenue (FBR) spends millions of rupee for improving tax recovery system and appoints commissioners, assistant commissioners and tax specialist lawyers, but…
IRS initiates campaign against ST/FED evaded cigarettes
KARACHI: Directorate of Intelligence – Inland Revenue, Karachi has seized large quantities of cigarettes on which Sales Tax and FED was not paid. Director General I&I-IRS Khawaja Tanveer has initiated…
IRS officers of BS-21, BS-20 reshuffled
KARACHI: Federal Board of Revenue (FBR) has notified transfers and postings of BS-21 and BS-20 officers of Inland Revenue Service (IRS). IRS officers of BS-21 transferred include Hafiz Muhammad Ali…
FBR given revenue collection target of Rs 3.601trn while LTUs to collect Rs 1.243trn in 2016-17
KARACHI: The federal government has given Federal Board of Revenue (FBR) a new tax collection target of Rs 3.601 trillion in the upcoming fiscal year (2016-17) while the Large Tax-Payer…
Pakistan Customs’ revenue collection crosses Rs1.0 trillion mark
KARACHI: The revenue collection by Pakistan Customs crossed the trillion mark, as Pakistan Customs collected Rs1.076 trillion in the fiscal year 2015-16, up 16 percent as compared with the total…
Oil Section MCC Preventive surpasses all revenue collection targets
KARACHI: The Oil Section of MCC Preventive has surpassed all revenue collection targets as the total collection for the year 2015-16 stood at Rs112.56 billion, which is 18 percent higher…