KARACHI: The Federal Board of Revenue (FBR) has started issuing notices to tax evaders, mainly high net-worth individuals, on the basis of information obtained from the tax profiling system. A notice contains all type of undeclared transactions made by a person on their CNIC, sources said. Around 20,000 notices have...
KARACHI: The Karachi Tax Bar Association (KTBA) says the deadline recently reiterated by the Federal Board of Revenue (FBR) for filing of returns is unlikely to be met by most tax filers since the new form contains errors and the system is operating below par. “The FBR uploaded on its...
ISLAMABAD: The Federal Board of Revenue (FBR) has estimated collection of Rs150 billion from cigarettes industry during the current fiscal year 2019-20 against collection of Rs110 billion in the last fiscal year 2018-19. “We will collect more taxes to the tune of Rs150 billion including Rs140 billion from two major...
ISLAMABAD: The tax base has been broadened significantly in the first year of the PTI-led coalition government, according to a presentation given by the Federal Board of Revenue (FBR) to Prime Minister Imran Khan on Thursday, as the number of new tax return filers has more than tripled during...
KARACHI: The Federal Board of Revenue (FBR) has issued around 253,000 notices to industrialists and businessmen, asking them to file returns, as the revenue body is expanding its broadening of tax base drive, officials said on Tuesday. An official said the FBR has so far issued 253,700 notices to consumers...
ISLAMABAD: The Fede­ral Board of Revenue (FBR) on Monday released Rs22 billion of verified sales tax refunds to exporters through the newly installed Fully Automated Sales Tax e-Refund (FASTER) system. The first payment through FASTER module against the refund claims for July has been made and the State Bank of...
The Federal Board of Revenue (FBR) has served Rs992 million tax notice on ARY Communications (ARY), claiming that the private television network has evaded taxes through misrepresentation, concealment and misuse of exemptions. The FBR order was issued on June 30 in the wake of a detailed exchange with the TV...
LAHORE: Chief Minister Usman Buzdar has approved abolishing of factories inspection by tax officials, allowing the owners to submit tax returns on their own under self-assessment scheme. The chief minister said here on Sunday the end of such inspections would ensure ease in doing business in the province. He hoped...
ISLAMABAD:  In a bid to discourage smuggling, special joint teams of the Federal Board of Revenue (FBR) will begin conducting inspections of all the markets across the country from Monday (today) wherein import documents of all foreign products/items will be checked. The special teams have been set up on the directions...
KARACHI: Collection of sales tax on services dropped 9.4 percent to Rs202.88 billion in the last fiscal year of 2018/19, finance ministry’s data showed, as economic slowdown took toll on revenue . Provinces collected Rs223.86 billion in the preceding fiscal year. The revenue collection declined due to slowdown in the...

Opinion

tourism cpec

Kashmir-CPEC nexus

In a new geostrategic scenario, situation has tied up Kashmir and CPEC with each other forever. Their correlation has opened up a new window...