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    Businesses
    Ineligible taxpayers manage to avail Traders’ Voluntary Tax Compliance Scheme

    Ineligible taxpayers manage to avail Traders’ Voluntary Tax Compliance Scheme

    The Federal Board of Revenue (FBR) Intelligence and Investigation (I&I) Inland Revenue (IR) has revealed that 13,401 taxpayers filed 37,469 Voluntary Tax Compliance Scheme (VTCS) returns whereas most of them were ineligible for the scheme.…

    Businesses
    Jazz Gets Best Taxpaying Company Award

    Jazz Gets Best Taxpaying Company Award

    Jazz Telecommunication Company has been awarded the ‘Best Taxpaying Company’ award under the large taxpayers’ category (largest withholding agent nationwide) at the inaugural Taxpayer Recognition Awards organized by the Rawalpindi Chambers of Commerce and Industry…

    Businesses
    FBR unearths massive tax evasion

    FBR unearths massive tax evasion

    Collectorate of Customs Export, Port Muhammad Bin Qasim (PMBQ) has identified a massive tax evasion in the import of “rejected plastic rolls waste“. According to media reports, a packing company has taken a NOC from…

    Businesses
    List of Tier-1 Retailers identified by FBR to integrate with POS system to claim input tax

    List of Tier-1 Retailers identified by FBR to integrate with POS system to claim input tax

    The Federal Board of Revenue (FBR) has issued a list of 1,136 big retailers (Tier-1) who are required to be integrated with the FBR’s Point of Sale (POS) system, announcing that they would be denied…

    Businesses
    Levy of service charges of Rupee one per invoice issued through Tier-1 Retailers

    Levy of service charges of Rupee one per invoice issued through Tier-1 Retailers

    SR0 No 127900/2021.- In exercise of the powers conferred by sub-section (1) of section 76 of the Sales Tax Act, 1990, the Federal Board of Revenue with the approval of the Federal Minister-in-charge is pleased…

    Businesses
    FBR to complete the licensing of IT service provider soon for Tier-1 retailers integration

    FBR to complete the licensing of IT service provider soon for Tier-1 retailers integration

    Federal Board of Revenue (FBR) on Tuesday said that the process of licensing the IT Service Providers for integration of Tier-1 retailers will take time. The FBR issued Rules for licensing of IT Service Providers,…

    Businesses
    Lucky Cement wins best Corporate Report Award

    Lucky Cement wins best Corporate Report Award

    Lucky Cement Limited has won the Best Corporate Report Award with first position in the Cement category at the much anticipated “Best Corporate & Sustainability Report Awards 2020.” The recognition was jointly announced by the…

    Businesses
    FBR takes action against integrated tier-1 retailers for non compliance

    FBR takes action against integrated tier-1 retailers for non compliance

    Large Taxpayers Office (LTO) Lahore has taken action against the integrated retailers on discontinuation from the Point of Sale (POS) system despite integration with the Federal Board of Revenue (FBR). Focal person responsible for POS…

    Businesses
    FBR amends Section 122 of IT Ordinance regarding time limit for proceedings

    FBR amends Section 122 of IT Ordinance regarding time limit for proceedings

    The Federal Board of Revenue (FBR) will enforce new amendment to Section 122 of the Income Tax Ordinance, 2001 for completion of proceedings against taxpayers within 120 days where notices were issued after July 1,…

    Businesses
    FBR issues clarification regarding disturbance in Data Center

    FBR issues clarification regarding disturbance in Data Center

    Federal Board of Revenue has issued a clarification regarding disturbance in Customs Operations due to up gradation of FBR Data Center. FBR has clarified that Customs operations have remained fully operational, throughout this week. Goods…