Thursday, 29 February 2024
Trending
FBR action against taxman on non declarations of assets
UPDATES

FBR decides penal action against tax officials on Non-Declaration of Assets

FBR decides penal action against tax officials on Non-Declaration of Assets

FBR decides penal action against tax officials on Non-Declaration of Assets:. Federal Board of Revenue (FBR) has decided penal action against tax officials who failed to submit their asset declarations.

If you want to become active tax filer or want to get tax, accounting and corporate services in Pakistan then we are here to provide you professional services! Call: 0092-3334875413 | www.globaltaxconsultants.pk

A statement issued on Thursday said that the FBR chairman had taken a serious note that many officers remained non-filer of asset declaration despite clear instructions.

Moreover, FBR circular No. 01/2015 which provides guidelines for performance allowance, state vide para 7 under “heading de-notification of performance allowance.”

FBR Law. FBR decides penal action against tax officials on Non-Declaration of Assets.

According to the para 7:

“vii) Non-filing of annual declaration of assets and liabilities: The employees, who fail to file their annual declaration of assets and liabilities on the due date each year, shall be de-notified for performance allowance for a period of three months of riling of declaration of assets and liabilities for the year, whichever is later.”

The FBR intimated the officers, who fail to submit their declaration of assets and liabilities for year ending June 30, 2022, shall be discontinued/de-notified after August 31, 2022, besides non-compliance will also be considered as ‘Misconduct’ under the rules.

See also  FBR decides to Audit Over 50,000 Income Tax Cases of 2019

FBR further directed all officers of FBR (HQ) and its field formations (Customs, Inland Revenue/ex-cadre) to comply with the instructions and submit their assets declaration of assets by August 31, 2022 positively otherwise administrative action will be initiated.

Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: