Category: Press Release

FBR has decided to extend the date for availing the “Default Surcharge and Penalty Waiver Scheme” under SRO-547(I)/2012 and SRO-548(I)/2012 upto 25th June 2012, in view of the positive response of the taxpayers for availing the said scheme. FBR had earlier announced a “Default Surcharge and Penalty Waiver Scheme” through SRO-547(I)/2012 of Income Tax and…

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As requested by the Federal Board of Revenue, the State Bank of Pakistan has issued instructions to SBP BSC field offices, to NIFT and to NBP to remain open for extended hours till 8:00pm (2000 hrs) on 31st May 2012, to facilitate trade and industry in getting their cargo cleared for imports and exports and…

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The Federal Board of Revenue has identified 119,870 non-filer salaried persons, drawing annual salary of more than 5 lacs. They were required to e-file their Returns of Income for tax year 2011 on e-portal of FBR but they did not discharge their legal obligation on this count. The information regarding these non filers has been…

Read More “FBR Intensifies efforts to recover Withholding Tax” »

Pakistan Mobile Communication Ltd (Mobilink) owed Rs. 8.6 billion to the exchequer on account of mis-declaration of Sales Tax and FED. The Income Tax Appellate Tribunal recently upheld the decision of LTU, Islamabad and confirmed the payable tax amount of 8.6 billion rupees. On receiving the decision of the Tribunal, Syed Ijaz Hussain, Chief Commissioner,…

Read More “FBR ATTACHES MOBILINK ACCOUNTS” »

Chairman, FBR has directed that FBR Headquarters as well as all of its field offices shall observe full working hours on Friday the 25th May, 2012 (i.e. from 08.30 am to 04:00 pm) with lunch and Juma Prayer break from 01:00 pm to 02:00 pm. An Office Order in this regard has been issued to…

Read More “FBR and all of its field offices to observe full working hours tomorrow on Friday the 25th May” »

FBR in its ongoing campaign to recover outstanding tax liabilities against various companies, the Large Taxpayers Unit (LTU), Islamabad has attached all Bank Accounts of the Pakistan Telecommunication Authority (PTA) which owed Rs.3.6 billion to the exchequer on account of Income Tax. The PTA was served with recovery notice under Section 138(10 of the Income…

Read More “FBR attaches PTA Accounts in its ongoing Tax Recovery drive. Recovery action on PTA” »

The Federal Board of Revenue has provided relief to the business community by extending the warehousing period and waiving off the penal surcharge on overstayed goods, lying un-cleared in the Customs Bonded warehouses. This measure has been taken to facilitate the trade and industry and commercial importers who have not been able to clear their…

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The FBR has decided to re-inforce its resources on monitoring of Withholding Taxes. The Tax Reform Coordination Groups was also apprised of the campaign being launched for this purpose during its meeting held in FBR on 1st May, 2012. The Income Tax and Sales Tax laws provide the prescribed persons to withhold the tax at…

Read More “FBR concentrates on Withholding taxes–action envisaged against defaulting Withholding agents” »

All Model Customs Collectorates / Large Tax payer Units/Regional Tax Officers/Tax Facilitation Centers shall remain open till 18:00 hours on 27-4-2012 and 28-4-2012 and till 22:00 hours on 30-4-2012 in order to facilitate the trade and industry in getting their cargo cleared for imports and exports and for receiving of returns and payment of duty…

Read More “Custom Houses and RTOs / LTUs to remain open till 18:00 on 27th and 28th April 2012 and till 22:00 hours on 30-4-2012” »