KCCI presents budget proposals in a meeting with FBR
KARACHI: A meeting was held on 16 April’2020 between the Karachi Chamber of Commerce and Industry (KCCI) and the Federal Board of Revenue to discuss the proposals of KCCI for…
Names of Member Customs (Operation), Member Inland Revenue (Operation) and Member Admin FBR to be notified today
KARACHI: The Federal Board of Revenue (FBR) is likely to announce the appointments of officers on the seats of Member Customs (Operation), Member Inland Revenue (Operation) and Member Admin (FBR)…
FPCCI finalizes proposals for the upcoming budget; seeks reduction in tax rates
KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has finalized its proposals for ensuing federal budget, and recommended to reduce the tax rates to help increase competitive edge…
FBR orders Inland Revenue to complete sales tax refund process by April 20, 2020
KARACHI: The Federal Board of Revenue FBR has advised all Chief Commissioners of Inland Revenue to complete sales tax refund process by the end of this week i.e. April 20,…
FBR devises system for online payment
KARACHI: Federal Board of Revenue FBR has devised a centralized system for online payment of Customs Duty Drawback directly in the bank account of the Exporters FBR has required from…
FBR finalizes amendments in Income Tax Rules to enable online integration of businesses
KARACHI: The Federal Board of Revenue (FBR) has proposed further amendments in Income Tax Rules, 2001, whereby another Chapter VIIA is being inserted to enable online integration of businesses. According…
FBR notifies concessions, exemptions on the import of edibles, pulses
KARACHI: The Federal Board of Revenue (FBR) has notified reduced rate of income tax i.e. 1.5 percent on the payments received against tea, spices, salt, dry milk, sugar, pulses, wheat…
Nausheen Javaid Amjad officially notified as FBR Chairperson on regular basis
KARACHI: The Establishment Division, Government of Pakistan, has terminated the appointment of Syed Muhammad Shabar Zaidi as Chairman Federal Board of Revenue (FBR) and appointed Ms. Nausheen Javaid Amjad as…
14 IRS officers promoted to BS-21
KARACHI: The Establishment Division has notified 14 Inland Revenue Service (IRS) officers into BS-21 on regular basis with immediate effect. The officers promoted include Dr. Farrukh Ansari, Sajidullah Siddiqui, Dr.…
FBR exempts of 61 Diagnostic Support goods from all import duties and income taxes
KARACHI: The Federal Board of Revenue (FBR) has notified exemption from all customs duty, regulatory duty, additional customs duty and all income tax on import of 61 Diagnostic support items…
FBR orders Members, Director Generals to cut the presence of staff by 40 percent
KARACHI: The Federal Board of Revenue (FBR) has advised its Members and Director Generals to cut the presence of employees by at least 40 percent initially for two weeks. FBR…
Return filers surge to 2.44mn
ISLAMABAD: The Federal Board of Revenue (FBR) on Friday announced that nearly 45 per cent more income tax returns were received for the tax year 2019 compared to the preceding…
Government collects Rs205bn revenue on oil and gas products despite production/import decline
ISLAMABAD: The government is estimated to have collected almost 43.7 per cent higher revenue on key oil and gas products during the first half of this fiscal year than the…
Shabbar denies reports of resignation, yet his return to FBR is unlikely
KARACHI: Syed Muhammad Shabbar Zaidi has clarified that he has not tendered his resignation from the office of Chairman Federal Board of Revenue (FBR). Zaidi also mentioned that he was…
FBR extends date of filing tax returns/statement till February 28, 2020
KARACHI: The Federal Board of Revenue (FBR) has notified extension in the date of filing income tax returns and statements for Tax Year 2019 till February 28, 2020. The date…
Khawaja Adnan posted DG FATF Cell
KARACHI: The Establishment Division has notified that Khawaja Adnan Zahir, a BS-21 officer of Inland Revenue Service presently posted at Director General Federal Ombudsman Secretariat, is transferred and posted as…
FBR allows auto manufacturers to adjust input tax to the extent of 95% of output tax
KARACHI: The Federal Board of Revenue (FBR) has allowed automobile manufacturing companies to adjust input tax to the extent of 95% of the output tax for that tax period, and…
FBR to be reinstituted into seven Wings; staff into five Groups
KARACHI: The steering committee for restructuring of Federal Board of Revenue (FBR) has discussed to institute the Board into seven wings including Policy Wing; Audit Wing; Enforcement Wing; Law Wing;…
FBR wants revenue allowance equal to 150% of basic pay for its employees
ISLAMABAD: The FBR’s officers have proposed to the PTI government for awarding a revenue allowance at rate of 150 percent of the basic pay to their employees on pattern of…
FBR clarifies procedure for clearance of imported goods on which retail price is not printed
KARACHI: The Federal Board of Revenue (FBR) has clarified that the provisions of (Sales Tax General Order) STGO 103 of 2019 shall be applicable in clearing of imported goods on…