Tax

FBR Makes It Compulsory for Importers to Submit Certificates of Origin

The Federal Board of Revenue (FBR) has made it mandatory for the importers to submit ‘certificates of origin’ of shipments originating from the United Arab Emirates (UAE) and China excluding imports under the preferential trade agreement (PTA) and Free Trade Agreement (FTA) regime. FBR has made draft amendments to the Customs Rules 2001 by issuing …

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SHC Restores FBR’ Millions of Dollars Worth Track and Trace Project

The Sindh High Court has restored millions of dollars Track and Trace project by giving the order in favor of M/s AJCL and FBR. SHC Judge Justice Kausar Sultan in her decision stated that this court has no territorial jurisdiction to pass an order. The plaintiff/bidder (SICPA SA) had challenged the FBR’s grievance committee order …

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FBR Raises Customs Duty Drawback on Confectionary Exports

The Federal Board of Revenue (FBR) has raised customs duty drawback rates on the exports of confectionery items with effect from April 26, 2021. The FBR has amended the SRO.212(I)/2009 through a notification. According to an announcement of the FBR, “In line with Prime Minister’s Initiative of ‘ Make in Pakistan, FBR has issued SRO …

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Planning Division Wants to Discontinue Gas Subsidy From Export-Oriented Industries

The Federal Tax Ombudsman (FTO) has recommended the Federal Board of Revenue (FBR) to pay Rs. 1,000 as an incentive for the filing of an income tax return through cash payback payment in the bank account of the return filer under the policy measure to broaden the tax base. According to the FTO annual report …

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FBR and Provincial Revenue Authorities Sign MoU on Single Portal/Return for Sales Tax

The Federal Board of Revenue and all the four Provincial Revenue Authorities signed a Memorandum of Understanding (MOU) for a single sales tax return and single web portal. Signing of the MOU is one of the most significant components of harmonization of sales tax initiative currently underway between the Federation and the provinces. On behalf …

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