ISLAMABAD: Clouds of uncertainty gathered around the Federal Board of Revenue (FBR) as talk continues to swirl in the capital that its chairman, Shabbar Zaidi, could be replaced in the coming days. Zaidi himself could be moved up the heirarchy, either to the position of Minister of State for Revenue...
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday transferred and posted 34 senior officers mostly at Directorate of Intelligence and Investigation (I&I) Inland Revenue (IR). The posting transfer of the senior officers is part of the government overall policy to remove all those officers from their existing positions to...
KARACHI: The Federal Board Revenue has detected 76,000 senior officials of the Sindh government who did not file their income tax return, it emerged on Sunday. The officials, who violated Section 114 of the Income Tax Ordinance, 2001 by not filing their returns, are serving in grade 18 to grade...
KARACHI: At a time when traders are opposing the new sales tax system, a group of businessmen wants to pay due taxes but the new online sales tax registration system has not been made functional yet. Last month, the Federal Board of Revenue (FBR) announced that it would launch an automated...
KARACHI: The Federal Board of Revenue (FBR) on Wednesday asked the tax officials to enforce exemption awarded to import of raw materials from value-added tax to encourage manufacturing activities in the country. The government, in the budget 2019/20, exempted imports of raw materials from three percent value-added sales tax to...
ISLAMABAD: All Pakistan Textile Mills Association (APTMA) has warned the government of wiping out of domestic textile industry on account of imposition of 17 percent sales tax, arguing that the sales tax-free imports of raw material (yarn, cotton) through Bond, EOU and DTRE schemes for exports will inflict huge...
ISLAMABAD: The Federal Board of Revenue (FBR) has proposed automated procedures for facilitation of import of raw materials and intermediaries for industries. The proposed procedures are aimed at improving the system of issuance of exemption certificates under Section 148 of the Income Tax Ordinance, 2001. However, it will only be...
KARACHI: Sales tax collection from imports fell 2.4 percent to Rs686.54 billion during the last fiscal year of 2018/19 as oil shipments contracted, while the government exempted certain inbound shipments from taxes during the period, sources said on Tuesday. The collection of sales tax at the import stage amounted to...
ISLAMABAD: The government’s finance team announced on Thursday that a total of 137,000 people have registered for the tax amnesty scheme and deposited a Rs70 billion in taxes until Wednesday (July 3). Addressing a press briefing Adviser to Prime Minister on Finance Dr Hafeez Shaikh flanked by State Minister for...
ISLAMABAD: Prime Minister Imran Khan on Thursday directed the Federal Board of Revenue (FBR) to launch a massive crackdown on holders of benami assets. However, he asked the FBR not to harass the business community and industrialists as without their cooperation the country could not get rid of the prevailing...

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A tale of two budgets

About a fortnight back the Indian Government announced its first post Elections 2019-20 Budget, and it will be interesting to see how it compares...