Tax

The Federal Board of Revenue (FBR) has constituted a Multi Agency-Money Laundering (ML) Investigation and Confiscation Committee with the mandate to follow up the implementation of the National Anti-money Laundering plans and programs regarding ML investigations and confiscation of stolen assets.   In this connection, the FATF Cell of the FBR has recently issued a …

FBR Constitutes Committee to Tackle Money Laundering and Terror Financing Read More »

To expedite recovery of sales tax from defaulters, the Federal Board of Revenue (FBR) has empowered its Inland Revenue (IR) field formations to recover sales tax arrears through the attachment of bank accounts from persons holding money on the behalf of the tax defaulter. Through a notification issued here on Thursday, the FBR has amended …

FBR to Expedite Sales Tax Recovery With a New Method Read More »

The Federal Board of Revenue (FBR) has revised the powers and functions of FBR Members including additional powers to the FBR Member Inland Revenue (Policy).   In this connection, the FBR has issued a notification here on Thursday. Under the new notification, the FBR has revised the functions and powers of FBR Member Information Technology; …

FBR Revises Functions and Powers of Members Read More »

The Federal Board of Revenue (FBR) has withdrawn a tax policy clarification of 2018 in which an electronic mode of serving notice to the taxpayers may be resorted to as an additional means of service for the facilitation of the taxpayers. Keeping in view the serious practical difficulties due to changes made in section 218 …

FBR Online Notices Now Valid in Courts Read More »

The Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP) are jointly implementing a new system for electronic issuance of income tax refunds by directly crediting the amount into the exporter’s bank accounts. In this connection, the FBR has issued a notification for introducing draft amendments in the Income Tax Rules 2002 …

FBR & SBP to Implement a New Income Tax Refund System Read More »

The Federal Board of Revenue (FBR) has deputed a team of tax officials to analyze data of 100 million persons received from Mobile phone companies. Highly-placed officials in the FBR told Propakistani that the FBR will issue notices to the subscribers of Mobile Phones on the basis of the higher amount of withholding tax being deducted on calls. The …

FBR to Notify Non-Filers That Are Paying Massive WHT on Mobile Transactions Read More »

The Federal Board of Revenue (FBR) is making all-out efforts by taking several steps to improve the disposal of tax litigation cases pending in different appellate forums through the Alternative Dispute Resolution Committee (ADRC).     These include the cases pending with Commissioners Inland Revenue (Appeals), Appellate Tribunal Inland Revenue, High Courts, and the Supreme Court …

Taxpayers’ Encouraged to Get Legal Cases Resolved through ADRC Read More »

The downward revision in the tax collection target of Rs. 4.963 trillion (2020-21) for the Federal Board of Revenue (FBR) is under consideration, highly-place officials told Propakistani. The issue of the downward revision in the revenue collection target of the FBR was discussed in detail during the last meeting of the International Monetary Fund (IMF) …

FBR Considering to Revise Annual Tax Collection Target Read More »