FBR promotes 43 IRS officers into BS-18

KARACHI: The Federal Board of Revenue (FBR) has notified promotion of 43 Inland Revenue Service (IRS) officers into BS-18 with immediate effect. The promoted IRS officers include: Mr. Azzam-ul-Asad Mazhar Hayat Omer Malik Ms. Tooba Ahmed Khan Ms. Saman Zahra Mr. Ahmad Faiz Ms. Mehak Fatima Ms. Fatima Anjum Mr…. Continue reading

Customs agents seek measures towards the trade facilitation in view of ongoing lockdown

KARACHI: Karachi Customs Agents Association (KCAA) has urged the authorities including Federal Board of Revenue (FBR) and ministries to take appropriate measures towards the trade facilitation in view of ongoing lockdown situation in the country due to outbreak of novel coronavirus (covid-19). KCAA urged the authorities of FBR to extend… Continue reading

Pakistan Customs steps up anti-smuggling enforcement across country

KARACHI: In line with the recommendations of the Prime Ministers Steering Committee on Anti-smuggling, Pakistan Customs being the country’s lead Anti-Smuggling Organization has accordingly stepped up enforcement actions in coordination with other Law Enforcement Agencies. Pakistan is losing around $3.0 billion worth of revenue a year, due to smuggling of… Continue reading

FBR advises eligible taxpayers update their profile to claim exclusion from adjustable input tax

KARACHI: The Federal Board of Revenue (FBR) has advised the taxpayers to update their online registration profile in the light of SRO 1190(I)/2019 to entitle them to claim exclusion from the purview of Adjustable Input Tax under Section 8B of the Sales Tax Act, 1990. According to SRO 1190(I)/2019, persons… Continue reading

Pakistan Customs Officers Association seeks clarity on the proposed restructuring of FBR

KARACHI: The Pakistan Customs Officers Association has asked the Federal Board of Revenue (FBR) high-ups to share the details/document on restructuring of FBR and proposed formation of Pakistan Revenue Authority with all the Members, Chief Collectors and Director Generals officially and seek comments on the same. President Pakistan Customs Officers… Continue reading

FBR bars IR officers/officials from meeting taxpayers in their rooms

KARACHI: The Federal Board of Revenue (FBR) has barred Inland Revenue officers from meeting taxpayers in their offices. In pursuance of international best practices to facilitate the taxpayers by minimizing contact between the taxpayers and tax collectors and to ensure transparency; authority directed that Dedicated Hearing Rooms / Cubicles should… Continue reading

China’s tax collecting authority offers to help FBR

ISLAMABAD: The Ambassador of China  in Pakistan has offered assistance and cooperation of State Taxation Administration of the People’s Republic of China in streamlining affairs at Federal Board of Revenue (FBR), which is struggling to broaden the tax base and increase collection. [the_ad id=”32940″]The Ambassador of China in Pakistan Yao Jing… Continue reading

FBR clarifies implementation of Benami Transactions (Prohibition) Rules, 2019

KARACHI: After Implementation of Benami Transactions (Prohibition) Rules, 2019.The Federal Board of Revenue (FBR) has clarified that a Benami property means any property which is subject matter of Benami transaction and also includes proceeds from such property. Benami transaction encompasses where a property is transferred to, or is held by,… Continue reading

FBR issues advice for payment of Rs7.23 billion Sales Tax refunds

KARACHI: Federal Board of Revenue (FBR) has issued an advice to the State Bank of Pakistan (SBP) for making payment of sales tax refunds amounting to Rs7.236 billion to facilitate the exports. The payment will benefit 898 claimants involved in exports of textile, carpets, leather, sports goods, surgical instruments, rice,… Continue reading

FBR binds banks to report profits earned on deposits by account holders

KARACHI: The Federal Board of Revenue (FBR) on Tuesday has bound the banking companies to report details regarding account holders earning profit on deposits while relieving the banks from the requirement of providing/filing account holders’ details regarding currency transactions report and suspicious transactions reports. The Federal Board of Revenue (FBR)… Continue reading