Income tax return to be treated invalid without CNIC / NTN number
KARACHI: Federal Board of Revenue (FBR) has said that income tax return filed for tax year 2014 would be treated as invalid or incorrect in case National Tax Number (NTN)…
FPCCI seeks extension in filing of income tax return to December 31
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday urged the Federal Board of Revenue (FBR) to extend the last date for filing of income tax return…
FBR issues promotion examination procedure for Inspector IR (BS-16) post
KARACHI: The Federal Board of Revenue (FBR) has issued examination procedure for promotion to the post of Inspector Inland Revenue BS-16, against the reserved quota, a notification said on Thursday.…
FBR frames conditions to NPOs for obtaining exemption certificate, rebate
KARACHI: The Federal Board of Revenue (FBR) has framed multiple conditions for non-profit organizations (NPOs) in order to get exemption certificate and rebate under new regime of tax credit in…
KTBA suggests changes to income tax return form
KARACHI: Karachi Tax Bar Association (KTBA) has sent suggestions and proposals for income tax returns 2014 that is uploaded on web portal of the Federal Board of Revenue (FBR). The…
List of nominated BS-19 officers for 16th Senior Management Course
KARACHI: The 16th Senior Management Course (SMC) is commencing from September 8, 2014 to January 23rd, 2015 for BS-19 officers at National Management College (NMC), Lahore and National Institute of…
KTBA highlights anomalies in sales tax return form, urges FBR to extend last date for e-filing
KARACHI: The Federal Board of Revenue (FBR) has been informed that taxpayers would not able to comply the last date of August 25, 2014 for filing sales tax return for…
FBR says wholesalers, dealers liable to get sales tax registration
KARACHI: The Federal Board of Revenue (FBR) has said that under sales tax laws all wholesalers and dealers prescribed as withholding agents are liable to get sales tax registration. In…
Fake companies still active to give benefit registered persons under sales tax concessionary regime
KARACHI: Though the Federal Board of Revenue (FBR) has prevented the leakage of illegal refunds through taking stern measures yet many companies having registrations on fake documents are still active…
FBR revises conditions for issuance of exemption certificate
KARACHI: The Federal Board of Revenue (FBR) has revised the conditions for issuance of exemption certificate on import of raw material by manufacturers, according to an statutory regulatory order (SRO)717(I)/2017.…
IRS officers nominated for 18th Mid Career Management Course
KARACHI: Establishment Division has issued a list of nominated officers of Inland Revenue Service (IRS) BS-18 for 18th Mid Career Management Course (MCMC) at National Institute of Management (NIM), Federal…
FBR directs IRS, PCS officers to file declaration of assets by August 15
KARACHI: The Federal Board of Revenue (FBR) has directed the officers of Inland Revenue service (IRS) and Pakistan Customs Service (PCS) to file declaration of assets for the year ending…
FBR issues 120,000 notices by June 30, 2014 to expand tax base
KARACHI: More than 120,000 initial notices (u/s 114 of the Income Tax Ordinance 2001) have been issued – based on large potential fiscal liabilities and location to ensure the initiative…
FBR to update active taxpayers list every month
KARACHI: The Federal Board of Revenue (FBR) has decided to update the details of active taxpayers on its web portal on 15th day of every month. Statutory regulatory order (SRO)…
No major tax reforms announced; Unrealistic FBR target major risk to fiscal deficit: SBP
KARACHI: The State Bank of Pakistan (SBP) on Saturday identified major risk to fiscal deficit target of 4.9 percent in the current fiscal year is from the revenue side as…
All resident persons belonging to association, trade bodies required to file income tax returns
KARACHI: The Federal Board of Revenue (FBR) has said that all the resident persons belonging to any association or trade body are required to file income tax returns. Through the…
There is urgent need to clampdown on corruption, leakages in tax machinery: State Bank
KARACHI: The State Bank of Pakistan (SBP) has said that there is urgent need to clampdown on corruption and leakages in the tax collection machinery for increasing the tax to…
FBR officials directed to implement revenue measures of revised sales tax, FED
KARACHI: The Federal Board of Revenue (FBR) has directed its officials to properly implement the revenue measures of revised sales tax and federal excise duty (FED) which have been taken…
Procedure to collect sales tax from retailers unveiled
KARACHI: The Federal Board of Revenue (FBR) on Thursday amended the Sales Tax Special Procedure Rules, 2007 to impose sales tax on retailers as announced in the federal budget 2014/2015.…