FBR – Page 16 – BOL News Staging

FBR releases report detailing country’s most expensive wedding

November 13, 2020 by Muhammad Usman

The Federal Bureau of Revenue (FBR) has released a preliminary report detailing the expenditure of Rs 2 billion on the most expensive wedding in the country. A report sent by Chief Commissioner Regional Tax Office Amina Hassan to Member Operation FBR revealed that Rs5.5 million was paid to Rahat Fateh Ali Khan and Rs5 million … Read more

Rahat Fateh Ali Khan under FBR Radar once again

October 28, 2020 by Muhammad Usman

Singer Rahat Fateh Ali Khan is under the Federal Board of Revenue (FBR) radar, as it is investigating the singer’s income records of international concerts.

According to the details, the FBR has asked the Federal Investigation Agency (FIA) to help them in the investigation. In this regard, FBR has sent a letter to FIA and asked the former to provide the travel details for the last six years of the Dillagi singer.

From July 1st, 2014 to date, foreign trip details have been requested in the letter.

However, Rahat’s representatives have claimed that the singer has not been reached by the FBR yet.

“We haven’t received any notice from FBR as of yet. We are currently looking into the matter,” he said

It should be mentioned here that in 2017, Rahat Fateh Ali Khan’s bank accounts were seized under the watch of FBR over tax evasion. At that time, FBR maintained that the Habibi singer had not paid Rs3 million income tax in 2015.

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INPC: Government introduces Shariah-compliant regulations

October 10, 2020 by Muhammad Usman

The government has introduced Shariah-compliant regulations to enable resident and non-resident Pakistanis to invest in foreign currencies through Islamic Naya Pakistan Certificates (INPCs) that will build up the foreign exchange reserves, and support the economy of Pakistan. The government of Pakistan has introduced Shariah-compliant regulations for Pakistanis and non-resident Pakistanis to invest in foreign currencies … Read more

Highest taxpaying parliamentarians

September 18, 2020September 18, 2020 by Tuba Athar

The Federal Board of Revenue (FBR) on Friday released a tax directory of lawmakers for the year 2018 with former prime minister Shahid Khaqan Abbasi as the highest taxpayer. The Pakistan Muslim League-Nawaz (PML-N) leader Shahid Khaqan Abbasi paid Rs241,329,362. As per the directory, Prime Minister Imran Khan paid Rs282,449 in wake of taxes, while … Read more

FBR releases tax directory of parliamentarians

September 18, 2020September 18, 2020 by Web Desk

The Federal Board of Revenue (FBR) has released details of the tax directory for the tax year (TY) 2018 of all members of the parliament. According to the details, Prime Minister Imran Khan paid Rs 282,449 in taxes in 2018. The opposition leader in the National Assembly Shahbaz Sharif paid a tax of Rs 97,30,545. Chairman … Read more

PML-N Vice President Maryam Nawaz Challenges FBR notice

September 16, 2020 by Web Desk

Pakistan Muslim League Nawaz (PML-N) Vice President Maryam Nawaz, daughter of former prime minister Nawaz Sharif has filed an appeal in the Lahore High Court (LHC) challenging a notice by the Inland Revenue department of the Federal Board of Revenue (FBR) for recovery of income support levy.

According to the details, Maryam Nawaz through her counsel moved the appeal assailing an LHC single bench’s verdict regarding income support levy, citing the Federal Board of Revenue and other relevant officials as respondents.

The appellant states that she has been served a notice by the Federal Board of Revenue for recovery of Rs 657,000 income support levy despite the fact that she had paid all taxes and requested the court to declare it illegal.

LHC disposes of Petition

It should Last year in May, the LHC had disposed of a petition filed by the PML-N vice president against the Federal Board of Revenue’s (FBR) notice for recovery of income support levy.

Justice Abid Aziz Sheikh directed her to file an appeal challenging a single bench’s verdict in this regard.

Lawyer of Maryam Nawaz had contended before the court that the recovery of income support levy is a violation of the country’s Constitution as the Inland Revenue department lacked authority to impose and recover a tax in the name of social protection after the passage of the 18th Constitutional Amendment.

FBR releases revenue collection details of first two months

September 1, 2020 by Aizbah Khan

ISLAMABAD: The Federal Board of Revenue (FBR) has released the details of revenue collection of two months of current financial year. According to FBR officials, the tax revenue in the first two months of the current financial year exceeded the target of Rs 593 billion as against the target of Rs 551 in July and … Read more

My husband has nothing to do with UK properties, wife Qazi Faiz Issa

July 9, 2020 by Web Desk

Wife of Supreme Court Judge Qazi Faiz Issa has submitted details of the overseas property to the Federal Board of Revenue (FBR). According to the details, In her reply, she said that her husband had nothing to do with the property bought in the UK. Qazi Faiz Issa’s wife also submitted a record of income … Read more

FPCCI calls for amendments in budget before approval of finance bill

June 22, 2020 by Atta Ur Rehman Khan

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar has termed the recently announced federal Budget 2020-21 as status quo and conventional budget, as the bureaucracy has tried to further accumulate its powers through this opportunity. Moreover, the budget provided nothing to run the industry or sustain the country’s exports in … Read more

FBR persents tax record of Justice Qazi Isa’s wife in Apex Court

June 19, 2020 by Web Desk

Federal Board of Revenue (FBR) submitted tax record of Justice Qazi Faez Isa’s wife in sealed envelope in the Apex Court. During court proceedings, Justice Qazi Faez Isa’s lawyer Munir Malik has also submitted sealed documents in the Supreme Court, saying that don’t know what government wants. Defence lawyer Farogh Naseem told that whatever mentioned … Read more

Non-implementation of sugar prices reduction orders anger IHC

June 15, 2020 by Aizbah Khan

The Islamabad High Court (IHC) has expressed annoyance over non-compliance with court orders to reduce sugar prices. The Islamabad High Court heard Rahim Yar Khan’s application to be a party in the sugarcane farmer’s sugar mills case. The apex court granted the application of sugarcane farmer to become a party in the case of Sugar … Read more

IHC stops gov from taking action on sugar inquiry commission report

June 11, 2020 by Web Desk

The Islamabad High Court IHC issued a 10-day stay order and stopped the government from taking action on the sugar inquiry commission report. According to details, Chief Justice Athar Minallah who was hearing a petition filed against the sugar inquiry commission report issued a 10-day stay order. The IHC also issued directives for the product … Read more

FPCCI urges to withdraw discretionary power of FBR for multiple audit

May 20, 2020 by Atta Ur Rehman Khan

FPCCI urged to withdraw discretionary power of FBR for Multiple audit and posting of Inland Revenue Official at business premises Federation of Pakistan Chambers of Commerce & Industry (FPCCI). Mian Anjum Nisar, President, Dr. Muhammad Arshad, Regional Chairman & Vice President and Zakaria Usman, Convener,Budget Advisory Council of the Federation of Pakistan Chambers of Commerce … Read more

FBR gives new assignments to five grade-21 officers

May 13, 2020May 13, 2020 by Atta Ur Rehman Khan

The Federal Board of Revenue (FBR) issued a notification on Tuesday (May 12), the board has given the new assignments to its five grade-21 officers. According to the details, newly appointed FBR Member (IR-Operations), chief commissioner, Regional Tax Office, Rawalpindi and chief commissioner, (Large Taxpayer’s Unit) are included in those officers. The Member (IR-Operations) Syed … Read more

Chairman SECP calls on chairperson FBR to discuss taxation policy

April 22, 2020 by Atta Ur Rehman Khan

The Chairman SECP called upon the Chairperson FBR today to discuss a number of taxation policy reforms that are essential for the development of Pakistan’s capital markets, corporate sector, non-banking finance industry, REIT and insurance sector. While presenting the proposals, the SECP chair highlighted key issues and challenges being faced by the SECP regulated sectors … Read more

Construction sectors to enjoy relief by govenrment

April 21, 2020 by Komal Fatima

Construction sectors have been given 5 to 6 kinds of relief. The Federal Board of Revenue has said in a briefing that anyone who owns land must inform them that they are building a house with that much money and the house must be completed till September 2022. FBR will not be asked for money … Read more

Petroleum products taxes decreased by 40 to 45 percent

April 21, 2020 by Komal Fatima

Taxes on petroleum products have been decreased from 40 to 45 percent, according to FBR. According to the media briefing by the Federal Board of Revenue (FBP), decreasing petroleum prices can lead to further loss of Rs 15 billion. The current rate is expected to face a loss of Rs 75 billion tax by June … Read more

PFBR continuously writing concerned authorities to give favor amid COVID-19

April 16, 2020April 16, 2020 by Atta Ur Rehman Khan

The President of Friends of economic and business reforms Kashif Anwar send a letter to Hammad Azhar, Minister for industry and production. According to letter Kashif Anwar said that every citizen of Pakistan is severely affected due to pandemic COVID-19 in the country. Since 22nd March 2020, majority of the markets, industries, private businesses are … Read more

Government hints at tightening of civil expenditures

February 14, 2020 by Web Desk

The government hinted at further tightening of civil expenditures to compensate for slippages on targets committed with the International Monetary Fund (IMF) on revenue collections. According to Sources This came from the Ministry of Finance at a meeting of the National Assembly’s Standing Committee on Finance and Revenue as the talks between an IMF visiting … Read more

FBR, Iran Customs signs MoU for optimum trade facilitation

February 11, 2020February 11, 2020 by Web Desk

The Federal Board of Revenue (FBR) and Iran Customs signed a Memorandum of Understanding (MoU) for optimum trade facilitation. Reports said that both bodies signed a Memorandum of Understanding (MoU) for Electronic Exchange of Data. The signing ceremony was chaired by Member (Customs-Policy/Operation), FBR Muhammad Javed Ghani, and subsequently presided over by the acting Chairperson, … Read more

FBR organizes event at Packages Mall to create awareness about Point of Sale

February 8, 2020 by Aizbah Khan

The Federal Board of Revenue (FBR) organized an event at Packages Mall,Lahore to create awareness among people about the Point of Sale (PoS), the linked invoicing system of the board. Designated officers of FBR HQ led by Chief, Facilitation & Taxpayers Education Tehmina Aamer participated in the programme, according to FBR statement issued here adding … Read more

FBR issues clarification over its issuance of fake refunds on media

February 4, 2020 by Atta Ur Rehman Khan

ISLAMABAD: Federal Board of Revenue (FBR) has issued a clarification on the news which was aired on electronic media about the issuance of fake refunds by the board on Monday. FBR has explained that two processes are being used to deal with refund cases, said a press release issued by FBR here. The first is … Read more

FBR generates RS320 billion tax in January 2020

February 2, 2020 by Arhama Altaf

Federal Board of Revenue (FBR) on Saturday announced that it generated Rs320 billion in terms of tax revenue during January 2020. FBR said they generated an amount of 17 percent more from the same month of the previous year. The FBR spokesman further announced a 30 percent increase in internal tax collection. “This collection unprecedented … Read more

Business owners are now bound to collect CNIC

February 1, 2020 by Web Desk

Business owners are now bound to collect the copies of computerized National identity cards (CNIC) at the transaction of 50,000 and above, from today (Saturday). Federal Board of Revenue (FBR) had given relaxation on this mandatory condition till January 2020 and the deadline had come to an end, now the law comes into force. Small … Read more

SC hears illegal tax refunds case

January 29, 2020 by Web Desk

The Supreme Court of Pakistan (SCP) ordered the Federal Bureau of Revenue (FBR) to re investigate into the illegal tax refunds case against Sales Tax Commissioner Abdul Hameed within 3 months. As per details, a three-member bench of the apex court headed by Chief Justice of Pakistan (CJP) Gulzar Ahmed presided over hearing of the … Read more

Govt collects tax of 2085 bn rupees in first half of FY

January 13, 2020 by Aizbah Khan

Special Assistant to the Prime Minister for Information and Broadcasting Dr. Firdous Ashiq Awan said that the government has collected tax amounting 2085 billion rupees in the first half of this financial year with an increase of 16.4 percent as compare to the previous year. In a series of tweets today, she said Imran Khan … Read more

FBR to go after 24,000 Pakistanis who bought Dollars in Bulk

January 11, 2020January 11, 2020 by Aizbah Khan

Federal Board of Revenue (FBR) gathered data for investigation of 24,000 Pakistanis who purchased dollars in bulk in 2017-18. According to the details, FBR stated that they are currently examining the tax records of these people before investigating them. FBR further stated that 9880, people are based in Lahore and the list of these people … Read more

FBR to launch crackdown against tax defaulter

December 30, 2019 by Atta Ur Rehman Khan

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to take strong action against the tax evaders and announced to launch a crackdown against them from March 2020. According to the details, the revenue board has issued notices to 200,000 high-net worth individuals for the purpose. These remarks were made by FBR Inland Revenue (IR) Member Dr … Read more

LHC disposes of Petition

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