LAHORE: The Federal Board of Revenue (FBR) has compiled data of more than 60,000 jewelers as part of its drive to bring the sector under stricter tax compliance. Sources revealed that out of the 60,000 jewelers identified, only 21,000 are registered with the FBR. Among these, just 10,524 have filed their tax returns. According to … Read more
KARACHI: Imposition of a 35 per cent tax rate on an individual’s income to broaden the tax base will remain a distant dream. The high tax rate is a major impediment in keeping away persons having taxable income from fulfilling their obligations, said Muhammad Zeeshan Merchant, president of the Karachi Tax Bar Association. Pakistan has … Read more
LAHORE: The business community has called upon the Federal Board of Revenue (FBR) to defer the implementation of point of sale (POS) system till addressing all of their reservations, a statement said on Tuesday. A delegation of Brandreth Road Traders Association told the Lahore Chamber of Commerce and Industry (LCCI) office bearers that the business … Read more
President Dr Arif Alvi on Sunday ordered the FBR chairman to take punitive action against the officials, causing inconvenience to a senior citizen, who claimed refund of Rs 2,333. The president further directed the FBR chief to examine the whole system of irresponsibility and corruption in the bureau. Read more: Balancing the book President Alvi apologised … Read more
