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,…
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…
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…
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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…
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…
The Tax Reforms Coordination Group (TRCG) met in FBR today, under the chairmanship of Federal Minister for Finance Dr. Abdul Hafeez Sheikh. Chairman FBR Mr. Mumtaz Haider Rizvi, in his opening remarks informed the Minister about the discussions so far held between the TRCG and FBR. Exclusive discussions on policies and strategies to improve the…
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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…
Senior bureaucrats undergoing the 96th National Management Course visited FBR headquarters here today. The 61 officers and 11 faculty member group was led by Rector of National School of Public Policy (NSPP) Mr. Ismail Qureshi. FBR’s Member (SP&S) Ms. Azra Mujtaba briefed the visiting officers on the history, structure, significance and working of FBR. The…
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The Honorable Chief Justice of Pakistan, Mr. Justice Iftikhar Muhammad Chaudhry, while addressing the concluding session of the International Judicial Conference, held a few days ago, said that “To streamline the expeditious disposal of cases pertaining to assessment or collection of public revenues, it is desirable that sufficient courts are established.” The Honorable CJP said,…
Chairman FBR Mr. Mumtaz Haider Rizvi today held a meeting in Karachi with FPCCI / KCCI committee for Recovery of unlawful / illegal Sales Tax Input Adjustment. Extensive discussion was held between the Committee and the FBR team to resolve the pending tax related issues. The Chairman on this occasion said that unlawful / illegal…
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