SHC stays suspension of exemption certificate of Sahara Welfare Trust

KARACHI: A division bench of High Court of Sindh stayed suspension of exemption certificate issued in favor of Sahara Welfare Trust. The impugned order was passed by Commissioner Inland Revenue without issuing any show cause or assigning reasons for adverse action, submitted Ms Dil Khurram Shaheen advocate representing the NGO…. Continue reading

FBR urged to withdraw discretionary power of FBR for Multiple audit and posting of Inland Revenue Official at business premises – FPCCI

MianAnjumNisar, President and Zakaria Usman, Convener,Budget Advisory Council of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) urged the FBR to withdraw the discretionary powers vested with the tax officials to avoid their misuse, provide relief to the taxpayers, simplify taxation law and restore the diminishing confidence of… Continue reading

Inland Revenue launches crackdown on money launderers, money smurfers

KARACHI: Inland Revenue Intelligence and Investigation has launched a crackdown against individuals and entities who have been smurfing the ill-gotten money in offshore tax havens. Information was received from multiple sources that illegal and tax evaded money have been deposited in far flung bank accounts in tax exempt areas to… Continue reading

SHC issue notice in petition by Steel Re-rolling Mill

KARACHI: Pre-admission notice was issued in a petition filed by Mehboob Re-rolling Mills by a division bench of High Court of Sindh here on Friday. The bench earlier heard the counsel for petitioner mills who submitted that Sales Tax Special Procedure Rules were repealed in June this year as the… Continue reading

FBR notifies large scale transfers and postings of Inland Revenue officers

KARACHI: Federal Board of Revenue (FBR) on has announced massive reshuffle in Inland Revenue Service (IRS) and transferred 78 officers ranging BS-17 to BS-20. The FBR announced transfers and postings of following IRS officers: 01. Sahibzada Abdul Mateen (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue… Continue reading

FTO dismisses real estate developer’s application against Inland Revenue

KARACHI: The Federal Tax Ombudsman (FTO) has dismissed a complaint filed by M/s Black Stone Developers against Inland Revenue for failing to issue refund for Tax Year 2017. M/s Black Stone Developers filed a complaint against Inland Revenue for failing to issue refund for Tax Year 2017, determined vide order… 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

Inland Revenue advised to sanction refund against provincial sales tax invoices

KARACHI: The Federal Board of Revenue (FBR) has advised all Inland Revenue formations to also process and sanction refunds against provincial sales tax invoices.[the_ad id=”31605″]FBR noted that during the process of refund claims of the registered persons, field formations reportedly do not entertain the input/refund claims of the invoices issued… Continue reading

SHC stays recovery of Income tax

KARACHI: An appellate bench of High Court of Sindh (SHC) stayed a notice of recovery issued by Additional Commissioner, Inland Revenue, Range 2, RTU 3, Zone 2 against petitioner Nova Hemis Pharmaceuticals Private Limited. The petitioner represented by Ms Dil Khurram Shaheen advocate assailed the notice amounting to rupees 32,107,198… Continue reading

Federal Excise Duty given in the jurisdiction of Inland Revenue Intelligence and Investigation

KARACHI: The Federal Board of Revenue (FBR) has included the Federal Excise within the ambit of Directorate General Intelligence and Investigation – Inland Revenue and notified the function of the Directorate General accordingly. The functions of Directorate General of Intelligence and Investigation, Inland Revenue include to carry out intelligence activities… Continue reading