Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the Advisor to the Prime Minister on Finance Dr. Abdul Hafeez…
KARACHI: The Federal Board of Revenue (FBR) has formed Financial Action Task Force (FATF) Cell in the office of Chairman FBR to ensure effective and timely completion of FATF related…
ISLAMABAD: The government has shown its inability to collect Rs1071 billion envisaged by FBR as tax collection target to meet the IMF performance criteria and indicative target for end September…
KARACHI: The Federal Board of Revenue (FBR) has barred officials of Inland Revenue from conducting raids on taxpayers’ premises without approval. “No commissioner or authorised officer shall undertake exercise of…
ISLAMABAD: The Federal Board of Revenue (FBR) has moved a summary to the federal cabinet for excluding import of storage batteries, auto parts, tyres and tubes from purview of retail…
KARACHI: The tax department is obtaining information about doctors, medical practitioners and medical consultants from Pakistan Medical Association, autonomous government hospitals and medical colleges, private sector hospitals, provincial health departments…
KARACHI: Pakistan has not been able to get out of the Financial Action Task Force (FATF) grey list; it is hardly avoiding the blacklisting, while on the internal front, Chairman…
KARACHI: The Federal Board of Revenue (FBR) has Invitation for License (IFL) for IT-based solutions for electronic monitoring of tobacco products in the country. FBR is seeking applications for the…
KARACHI: The Federal Board of Revenue (FBR) has linked extension of due date of income tax return and statement for Tax Year 2019 with payment of all the due taxes.…
KARACHI: Around Rs177 billion has been documented since the termination of Rs40,000 denomination bearer prize bonds, announced by the fiscally strapped government in June as part of its ongoing clampdown…
KARACHI: The Inland Revenue has notified the changes in withholding tax rates for cotton ginners as provided in the Income Tax Ordinance, 2001 effective from July 01, 2019. The rate…
KARACHI: The Federal Board of Revenue (FBR) has missed revenue collection target by a whopping margin of Rs50 billion for August 2019 despite introducing several revenue and administrative measures in…
KARACHI: The Financial Monitoring Unit (FMU) of the State Bank of Pakistan (SBP) has reported Barketullah s/o Karimdad to Directorate of Inland Revenue Intelligence & Investigation for possible tax evasion,…
KARACHI: The meeting of Departmental Promotion Committee (DPC) for promotion from BS-17 to BS-18 is being convened shortly. The Federal Board of Revenue (FBR) has advised all BS-17 officers of…
KARACHI: The Federal Board of Revenue (FBR) has approached Land Utilization Department, Sindh seeking demolishment of buildings and structures illegally erected on CBR/FBR land in K-28, Trans Lyari Quarters, Hawks…
KARACHI: Federal Board of Revenue (FBR) on Tuesday notified transfers and postings of 37 Commissioners of Inland Revenue Service (IRS) in BS-19-20 with immediate effect under further orders. Dr. Shahid…
ISLAMABAD: The Federal Board of Revenue has initiated investigation against 247 persons owning foreign bank accounts, who did not avail themselves of the amnesty schemes offered by PML-N and PTI…
ISLAMABAD: Federal Board of Revenue (FBR) appears to be taking advantage of lifetime token tax collection by the provinces on small cars by seeking to recover lifetime income tax from…
KARACHI: The Federal Board of Revenue (FBR) has proposed certain amendments in the Income Tax Rules, 2002 pertaining to business license scheme. According to the proposed Chapter XIIIA for the…
KARACHI: Federal Board of Revenue has advised the consumers to ask for invoices/receipts having Sales Tax Number (STRN) on the invoices/receipts on purchase of goods and services. FBR noted that…