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Islamabad
Friday, April 3, 2020
ISLAMABAD:  Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh has asked the Federal Board of Revenue (FBR) to aggressively follow up on its agreement with the traders for expanding the tax base. He has also directed the authority to work optimally to enrol nearly 20,000 points of...
KARACHI: The Federal Board of Revenue (FBR) has planned ‘stern’ action against big retailers who refused to install automated point-of-sale system for recording their transactions with the tax authorities on real-time basis, sources said on Tuesday. The sources said some big retailers located in various shopping markets refused to digitally...
KARACHI: The Federal Board of Revenue (FBR) is expecting significant tax collection under an amnesty scheme for local and foreign assets expired last year but it is open to payment with default surcharges till June-end next year, sources said on Monday. The sources said the tax payment would be received...
ISLAMABAD:  The Federal Board of Revenue (FBR) has decided to tighten the noose against the tax evaders and announced to launch a crackdown against them from March 2020. The revenue board has issued notices to 200,000 high-net worth individuals for the purpose. Also Read: FBR committees to decide retailers’ eligibility for...
KARACHI: Market committees constituted by the Federal Board of Revenue (FBR) will decide eligibility of retailers and wholesalers for sales tax registration, a top official said on Thursday. “The market committees – comprising officials of FBR and representatives of trade associations – will evolve criteria for mandatory sales tax registration...
KARACHI: The Directorate of Intelligence and Investigation – Inland Revenue (I&IIR) claimed on Thursday to have unearthed a “country-wide network” involved in the tax theft of Rs10 billion through the registration of fake industrial units. Sources affiliated with the Federal Board of Revenue’s intelligence wing, speaking on condition of anonymity, disclosed...
KARACHI: The State Bank of Pakistan (SBP) has announced that it will bear the cost of online payment of taxes and duties to the government in a bid to document the economy, but it will cost the central bank millions of rupees. Besides, the central bank is encouraging banks to provide...
ISLAMABAD: Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has assured exporters that he will use his powers to help release sales tax refunds worth billions of rupees that have been stuck for the past many years. Talking to textile exporters at the Pakistan Hosiery Manufacturers Association (PHMA) House, Sukhera said,...
Collection of taxes on prizes and lottery winnings fell 23 percent in November, despite imposition of 100 percent additional tax on non-filers or those who filed their returns after due date. According to statistics of the RTO-II Karachi, the income tax collection from the prize money fell 23 percent to...
FAISALABAD: The Directorate of Intelligence and Investigation (Inland Revenue), Faisalabad, has detected a dummy unit allegedly involved in million of rupees tax fraud. The directorate has unearthed a scam of issuing/adjusting fake and flying invoices involving tax fraud of millions of rupees. On a tip-off, the IR section initiated a probe...

Opinion

month revenue payment targets

Missed Targets

The tax collection numbers from the last six months are in, and they make for a dismal reading. The government has missed all of...