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UPDATES
Senate Panel criticized FBR for sending tax notices

Senate Panel criticized FBR for sending tax notices

Senate Standing Committee on Finance on Monday criticized the Federal Board of Revenue’s (FBR) absolute action against taxpayers, who facing tax notices having tax demands that is many times more than their annual turnovers. During…

UPDATES
Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives

Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives

The standing committee informed and proposed that an amendment is under way to streamline legality that deals with the tax structure of the gifts given to the relatives. “Provided that, if the capital asset acquired…

UPDATES
FTO ordered an investigation against officials of CTO Lahore against recovery of tax without notice

FTO ordered an investigation against officials of CTO Lahore against recovery of tax without notice

The Federal Tax Ombudsman (FTO) has passed an order against the corporate tax office, Lahore (CTO) tax employees, against the cases involved in collecting taxes from government departments without communicating any enforceable order of tax…

UPDATES
Income Tax Returns Filing for Tax Year 2020 Reaches 2.93m

Income Tax Returns Filing for Tax Year 2020 Reaches 2.93m

The income tax returns for tax year 2020 have reached to a new peak of 2.93 million against 2.63 million in last year for tax year 2019. Showing an increase of 11.4 percent along with…

UPDATES
Govt Preparing to Increase Consumption of Electric Vehicles by Reducing Taxes and Prices

Govt Preparing to Increase Consumption of Electric Vehicles by Reducing Taxes and Prices

Relevant institutions have taken practical steps to increase the use of electric vehicles in Pakistan by reducing tax and prices. Rana Qamar Al Hassan, Director, Excise and Taxation Department, Punjab, said that the government planned…

UPDATES
Despite the obstacles, the FBR issued a Rs250b tax refunds

Despite the obstacles, the FBR issued a Rs250b tax refunds

FBR Inland Revenue (Operations) member Dr Muhammad Ashfaq Ahmed has claimed that despite some minor discrepancies in the system, the Federal Board of Revenue (FBR) has paid tax refunds amounted to Rs 250 billion this…

UPDATES
Traders remind FBR of their promise

Traders remind FBR of their promise

All Pakistan Anjuman e Tajiran (APAT) President Ajmal Baloch and Secretary Khalid Chaudhry expressing their concern on Tuesday that the Federal Board of Revenue (FBR) promised to install Point of Sales (POS) devices two years…

UPDATES
FBR notifies Gabd (Gwadar) as TIR Border Crossing Point

FBR notifies Gabd (Gwadar) as TIR Border Crossing Point

Pakistan became a member of TIR (International Road Transport) Convention in 2017. TIR has 77 contracting parties including China, Afghanistan, Iran, Turkey and all Central Asian Republics (CARs). After becoming member, Pakistan notified sea and…

UPDATES
Sindh Revenue Board Announces Tax Relief Scheme

Sindh Revenue Board Announces Tax Relief Scheme

The Sindh Revenue Board (SRB) has announced a tax incentive scheme. This scheme allows total exemption from penalties. It provides significant relief for Sindh sales tax (SST) defaulters in payment of default surcharge. Meetings held…

UPDATES
FBR Issues Clarification on Excessive Charge of Duties & Taxes on Mobile Phones

FBR Issues Clarification on Excessive Charge of Duties & Taxes on Mobile Phones

Federal Board of Revenue (FBR) has issued a clarification on the media news about excess charging of customs duties and taxes on import of mobile phones. FBR explained that in a meeting with Pakistan Telecommunication…

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