Transfers/postings
KARACHI: The Federal Board of Revenue (FBR) has notified transfers and posting of eight officers of Customs/Sales Tax Department (BS-16). These include Shahid Farooq (Sales Tax) from Inspector RTO-II Lahore…
Another amnesty scheme to boost revenue collection
KARACHI: The Revenue Division is quite desperate to increase its revenue collection numbers for the fiscal year, which is evident from the unprecedented measures the Ministry of Finance and the…
Charge relinquishment of probationers of PCS
KARACHI: On completion of Common Training Programme (CTP), as many as five Assistant Collector Probationers (BS-17) of Pakistan Customs Service (40th CTP), have relinquished their charge at Civil Service Academy,…
Sales tax on mobile phones rationalized; burden of collection shared with cellular companies
KARACHI: The Ministry of Finance (Revenue Division) has rationalize the sales tax on import and supply of mobile phones or satellite phones and shifted part burden of collecting sales tax…
All Customs Collectorates to remain open on Saturday & Sunday until June 30, 2013
KARACHI: The Federal Board of Revenue (FBR) has directed all the Model Customs Collectorate and other subordinate functionaries of these collectorates to observe Saturdays and Sundays as normal working days…
Declaration of income and assets; FBR warns IRS/PCS officers for non-compliance
KARACHI: The Federal Board of Revenue (FBR) has warned several officers of Inland Revenue Service (IRS) and Pakistan Customs Services (PCS) who are not submitting the declaration of their income,…
Revised strength of IRS and PCS
KARACHI: Consequent upon the approval of the Prime Minister of Pakistan to the creation of additional posts in Inland Revenue Services (IRS) and Pakistan Customs Services (PCS), the administrative control…
Date extended for payment, filing of returns of sales tax and federal excise duty
KARACHI: The Federal Board of Revenue (FBR) has extended the last date for payment of taxes/duty and filing of sales tax / federal excise duty returns for the period April…
Manufacturing Bond Scheme; FBR lays down procedure for release of credit instruments
KARACHI: Federal Board of Revenue (FBR) has laid down the procedure for release of indemnity bond/post dated cheque and issuance of delay and detention certificates to the importers for manufacturing…
FBR directs recovery of short paid duty/taxes on cellular phones
KARACHI: The Federal Board of Revenue (FBR) has directed all the collectorates to make necessary action for recovery of short paid amount of duty/taxes on the import of cellular mobiles…
MCC PaCCS’s post-clearance audit starts bearing fruit
KARACHI: The Model Collectorate of Customs (MCC) PaCCS’s post-clearance audit has starting bearing fruit as in a case of short payment of duty and taxes, the importer has paid Rs6.0…
Ansar Javed appointed new FBR Chairman
KARACHI: The Federal Board of Revenue (FBR) has notified that in pursuance of Establishment Division notification No.31/02/2013-E-1, Ansar Javed, a BS-22 officer of Inland Revenue Services (IRS) has assumed the…
IRS officer imposed major penalty for proven corruption
KARACHI: The Member (Admn) Federal Board of Revenue has imposed a major penalty of ‘Reduction to lower stage in his current time scale equal to three increments’ upon Walayat Khan…
FBR fails to entertain hundreds of applications on last day of amnesty scheme
KARACHI: The Federal Board of Revenue (FBR) has failed to entertain hundreds of applications seeking amnesty for legalizing smuggled and non-duty paid vehicles on the last day of the facility.…
Billions of rupees recovery at stake as FBR top brass intervenes to shelter corrupt elements
KARACHI: The recovery of billions of rupees in cases of misusing exemption regime has been put at stake as top brass of Federal Board of Revenue (FBR) is sheltering the…
Non-recovery of duty and taxes found in departmental audit
KARACHI: The Departmental Audit Committee (DAC) of Federal Board of Revenue (FBR) has identified non-realization of government revenue of Rs1.124 million as the Model Customs Collectorate (MCC) did not recover…
DAC finds non-recovery of Rs662.142 million in adjudged cases
KARACHI: The Departmental Audit Committee (DAC) of Federal Board of Revenue (FBR) has identified non recovery of government revenue to the tune of Rs662.142 million in 648 adjudged cases in…
MCC PaCCS, Appraisement collections post marginal growth
KARACHI: The duty and tax collection of Pakistan customs posted a marginal increase of 2.2 percent during first eight months of current fiscal year owing to fall in sales tax…
Illegal refunds; IRO sacrificed to protect entire IRS chain involved in corruption
KARACHI: The Federal Board of Revenue (FBR) has accorded major penalty to an Inland Revenue Service (IRS) officer of Grade 16 for inefficiency, misconduct and corruption, the practice termed as…
FBR Quarterly Review recommends post clearance audit where taxes/duties have escaped.
KARACHI: The Federal Board of Revenue (FBR) in its quarterly review has noted that loss of revenue could be quantified into undue exemptions of income tax, misuse of reduced WHT…