Useful information for businessmen
Federal Government’s Amnesty Scheme for smuggled and non duty paid vehicles has received phenomenal response. Till March 31, 2013, over 34,000 vehicles have been assessed to import duty and taxes at various custom offices all over the country. The total revenue collected on such vehicles is approximately Rs. 10 billion. The success is unprecedented compared…
Keeping in view the facilitation of taxpayers, FBR officially launched today its Taxpayers’ Facilitation Portal accessible at FBR’s web address http://www.fbr.gov.pk This major paradigm shift from an official website towards a Taxpayers’ Facilitation Web Portal is the initiative of FBR’s Chairman Ali Arshad Hakeem with a view towards maximum online facilitation, guidance and help for…
In order to facilitate taxpayers in timely payment of tax liabilities, all designated branches of State Bank of Pakistan and National Bank of Pakistan shall remain open on 30th and 31st March, 2013 (Saturday and Sunday) for receipt of duties / taxes. For facilitation of the taxpayers, all Inland Revenue Offices will also remain open…
The smuggled vehicles’ amnesty scheme notified by the Federal Government, for legitimizing smuggled vehicles upon payment of duty and taxes, has fetched Rs. 3 billion approximately to date, through legitimizing around 10,000 (ten thousand) vehicles across the country. It is reiterated here again today, that the last date to avail this facility of the amnesty…
Read More “10,000 SMUGGLED VEHICLES LEGITIMIZED THROUGH AMNESTY SCHEME SO FAR” »
The amnesty scheme notified by the Federal Government, for legitimizing the smuggled and non-duty paid vehicles upon payment of duty and taxes, will expire on 31st March, 2013. The scheme will not be extended beyond 31st March, 2013. The rumors suggesting possible extension in the deadline are absolutely unfounded. 2. Those seeking to avail of…
Read More “SMUGGLED VEHICLES’ AMNESTY SCHEME NOT TO BE EXTENDED BEYOND 31ST MARCH” »
Federal Board of Revenue has conducted computer ballot for selection of cases for audit pertaining to tax year 2011. The selection has been made on the basis of three separate risk parameters for Income Tax, Sales Tax and Federal Excise Duty laws for corporate and non-corporate cases. The business community representatives, who pressed the button…
Federal Board of Revenue (FBR) has extended the Sales Tax Withholding Regime through its notification SRO 98(1)/2013, dated 14-02-2013. The said SRO says that all companies as defined in Income Tax Ordinance, 2001 as are registered for sales tax, FED or Income Tax, shall be subjected to Withholding tax at one-fifth (l/5th) of the applicable…
FBR’s Legal Wing completed a 3-day, training activity on Litigation Management System (LMS) at Directorate General of Training & Research (DOT- IR), Islamabad to build the capacity of 40 officers and officials of FBR as Master Trainers. Additional Commissioners, Deputy Commissioners, and Assistant Commissioner of Inland Revenue from Islamabad, Rawalpindi, Abbotabad, and Peshawar participated in…
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A meeting of Tax Reforms Coordination Group (TRCG) was held under the Chairmanship of Federal Minister for Finance Dr. Abdul Hafeez Sheikh at the FBR House here today to discuss proposals for upcoming Federal Budget 2013. Chairman FBR Mr. Ali Arshad Hakeem, in his opening remarks, as host, briefed the Minister about the various proposals…
Read More “Finance Minister chairs Tax Reforms Coordination Group (TRCG) meeting” »
The Anti Illicit Tobacco/Cigarette Unit working under the Inland Revenue Wing of FBR has successfully launched its wide ranged operations covering almost all segments of this evasion prone sector. In addition to enforcement activities audits have also been conducted identifying recoverable Duty/taxes over RS 262 million. During the last 6 months (July-December, 2012) of the…
Read More “FBR’s drive against illicit tobacco / cigarette trade” »
