Useful information for businessmen
In view of 9th and 10th Muharram holidays falling on 14th and 15th November, 2013 and the weekend following immediately, the Federal Board of Revenue, in exercise of the powers conferred under section 74 of the Sales tax Act, 1990 and section 43 of the Federal Excise Act, 2005, is pleased to extend the date…
A group of fifty seven senior civil servants participating in the 99th National Management Course (NMC), along with the Rector, Dean and the faculty of the National School of Public Policy (NSPP) visited FBR House, here today. The group was welcomed by Member Facilitation & Taxpayers’ Education (FATE) Mrs. Riffat Shaheen Qazi. She briefed the…
In a section of the press, reports have been published today regarding the Broadening of the Tax Base Initiative by FBR. The position is clarified as under:- During the 1st Quarter of current financial year 30,533 notices were issued to potential taxpayer in cases where FBR had information of quantifiable economic activity and the person…
Read More “FBR CLARIFIES NEWS REPORTS REGARDING BROADENING OF TAX BASE INITIATIVE” »
FBR has not imposed any new tax on household gas and electrical appliances, tiles, tyres etc.. these goods were chargeable to sales tax on retail price basis. Sales Tax on retail price basis means that sales tax of the complete chain from manufacturer till retailer is paid upfront by the manufacturer. This business community approached…
FBR has notified the return forms for filing of income tax returns by Company, AOP and Individuals. All the returns forms can be downloaded from FBR’s website by visiting https://fbr.gov.pk Electronic filing of income tax returns is mandatory for Companies and AOPs. Moreover, all individuals registered for sales tax, drawing salary income of Rs. 500,000…
FBR has collected revenue of Rs.202 billion in September this year against a total collection of Rs.180 billion in September, 2012. The total collection for the first quarter (July–September) stands at Rs.481 billion against an amount of Rs.414 billion collected for the corresponding period last year. The revenue of Rs.481 billion includes Rs.161 billion Income…
As per the directions of Federal Minister for Finance Mr. Ishaq Dar, the facility of zero-rating has been restored on various dairy products, stationery items and bicycles along with their raw materials, packing materials, sub-components, components, sub-assemblies and assemblies, imported or purchased locally for manufacture of said goods. In this regard S. R. O. 670(I)/2013…
Read More “Sales Tax Zero Rating facility restored on various items” »
Clarifying a news item appearing in a section of the press, the official spokesperson of FBR, stated that Sales Tax on old and used clothes has been reduced by the Federal Minister for Finance Mr. Mohammad Ishaq Dar, from 17% as stated on the floor of the National Assembly in his Budget speech on 5th…
Read More “Sales Tax on old and used clothes has been reduced from 17% to 5%” »
In order to facilitate the taxpayers in depositing their duties and taxes during the last few days of the current financial year, the State Bank of Pakistan, on request of FBR has decided to keep the designated branches of State Bank of Pakistan, National Bank of Pakistan, major branches of Commercial Banks and national Institute…
Read More “Collection of Duties / Taxes on 28th , 29th and 30th June, 2013” »
FBR has started an intensive effort to Broaden the Tax Base through using the National Data Warehouse and has finalized a detailed implementation plan in this regard. The most important step in this direction has been the decision to use the National Data Warehouse (NDW) for identification of new taxpayers who can be brought into…
