Taxpayers – BOL News Staging

Genuine Taxpayers Should Be Protected at All Costs; Atif Ikram Sheikh

October 23, 2024 by Nimra Sohail

Mr. Atif Ikram Sheikh, President FPCCI, has apprised that Mr. Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has agreed, in an exclusive, candid and detailed meeting, with FPCCI’s demand of an end to harassment of genuine and regular taxpayers – and, only the tax evaders or defaulters should be served with … Read more

Government action against non-filers is the right decision, burden on taxpayers should be reduced: Atif Ikram

September 25, 2024 by Rao Abdullah

Islamabad: President Federation of Pakistan Chambers of Commerce and Industries Atif Ikram Sheikh has said that the government’s decision to take action against non-filers is correct while tax burden should be reduced on tax payers. Action against non-payers of taxable income should have been decided earlier. Action should be taken against taxpayers and facilitating officers … Read more

FBR decides to audit retailers, real estate taxpayers

October 7, 2023 by Abid Khan

The new strategy of FBR has come out against tax evaders.
FBR issued warning to retailers to avoid errors in income tax.
Regional Tax Offices will conduct audit of real estate taxpayers.

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to audit retailers and real estate taxpayers who have submitted income tax returns.

The new strategy of the Federal Board of Revenue (FBR) has come out against tax evaders, it has been decided to audit retailers and real estate taxpayers who submit income tax returns.

FBR has issued a warning to retailers to avoid errors in income tax and sales tax. The income tax and sales tax returns of retailers will be audited.

FBR sources said that the decision on the audit of income tax and sales tax of retailers will be made in the respective Regional Tax Offices(RTO).

Sources said that a strategy was also made against tax evasion in real estate, audits of taxpayers of real estate will also be conducted and audits of taxpayers’ returns will be done by the respective RTOs.

According to FBR sources, there will be no balloting for tax audit, instead of draw, the concerned RTOs will be able to choose under discretionary powers.

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Taxpayers still shying away from audit, monitoring

January 23, 2022 by Muhammad Zubair

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

FBR defers digital payment system till January 31

January 3, 2022 by Muhammad Zubair

KARACHI: The Federal Board of Revenue (FBR) on Monday deferred the mandatory digital payment system for corporate entities till January 31, 2022. The FBR issued a circular for the extension in time for the implementation of digital payment for corporate entities. It is the third time the revenue board has extended the time of implementation. … Read more

Site Association signs agreement to facilitate members in returns filing

December 10, 2021 by Muhammad Zubair

KARACHI: The Site Association of Industry (SAI) has signed a memorandum of understanding (MoU) with Befiler for facilitating its members and their employees in tax filing, and related business services for promoting compliance culture among its member organisations, a statement said. Site Association patron-in-chief Muhammad Zubair Motiwala graced the signing ceremony with his presence. SAI … Read more

FPCCI slams govt for ignoring businessmen in mini-budget consultations

November 26, 2021 by Muhammad Zubair

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday expressed concerns over not taking stakeholders in confidence to discuss the mini-budget, a statement said. FPCCI president Mian Nasser Hyatt Maggo expressed concerns over the approach of the government for not taking the apex business, industry and trade body of Pakistan into … Read more

FBR’s decision to freeze bank accounts creating problems for taxpayers

October 18, 2021October 16, 2021 by Web Desk

Just imagine one morning you receive a call from your bank informing an amount was deducted or fully withdrawn by the tax authorities. You will be totally ignorant of the situation and rush to the relevant tax office to know the reason for money withdrawal. A big surprise will be welcomed when you know that … Read more

SRB making all-out efforts to resolve taxpayers’ issues: chairman

October 15, 2021 by Gohar Ali Khan

KARACHI: The provincial revenue authority is making all-out efforts to resolve taxpayers’ issues on a priority basis, an official said on Friday. Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), Sindh Revenue Board (SRB) chairman Khalid Mehmood said the board has been making cautious efforts to ensure … Read more

FBR and KPRA decide to share data understanding of utmost profit

September 14, 2021September 10, 2021 by Syed Ahad

The Federal Board of Revenue (FBR) and Khyber Pakhtunkhwa Revenue Authority (KPRA) decided to share data and info for the understanding of maximum profit.

To surge profit and potential the FBR and KPRA would change expressive apparatus on agriculture income/tax.

Both sides decided to iron out changes relating to sales tax on services associated with four significant sectors including construction, restaurants, transport and communication, and toll manufacturing.

Khyber Pakhtunkhwa Board of Revenue Senior Member and senior associate also joined the meeting.

In the meeting, the matters of mutual interest between the Federal Board of Revenue and Khyber Pakhtunkhwa Revenue Authority were deliberated.

The FBR chairman repeated his commitment to growing a close working association between FBR and KPRA.

Khyber Pakhtunkhwa Finance Minister hoped that both FBR and KPRA would grow a lasting system to build close collaboration for the purpose of recognizing potential taxpayers and growing revenue.

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New taxpayers receive notices to file previous years’ returns: KTBA

December 10, 2021August 20, 2021 by Web Desk

KARACHI: The newly-registered taxpayers are receiving computerised notices for the previous years, asking them to file their annual returns. A new taxpayer, who starts taxable earnings and registered for filing annual return of income, is receiving notices to file previous years’ returns. “The new taxpayers, who find themselves in Catch-22 situation, when multiple notices are … Read more

FBR formally launches export facilitation scheme

July 30, 2021 by Web Desk

KARACHI: The Federal Board of Revenue (FBR) on Friday formally launched the Export Facilitation Scheme 2021. The FBR issued an SRO 957(I)/2021 to implement the provisions for facilitating exports from Pakistan. Previously, the tax body issued draft law on July 9, 2021, inviting feedback from the stakeholders. According to the latest SRO, the scheme would … Read more

American Business Council hails govt’s efforts to facilitate taxpayers

July 13, 2021 by Web Desk

KARACHI: The American Business Council (ABC) of Pakistan has appreciated the efforts of the government to facilitate taxpayers, ameliorate ease of doing business and incentivise digitalisation of the economy, a statement said on Tuesday. The council said the government of Pakistan has positively reflected on its policy recommendations and incorporated it in the Federal Budget … Read more

FBR chairman holds e-Kutchery

July 9, 2021 by Web Desk

KARACHI: Federal Board of Revenue (FBR) chairman Asim Ahmed on Friday interacted with the taxpayers by holding an e-Kutchery, a statement said. The FBR said that as a sequel to e-Kutcheries held on a monthly basis to comply with the directives of Prime Minister Imran Khan, the FBR chairman held an e-Kutchery at the FBR … Read more

PM Imran Khan Will Avoid Attending Any Private Function With Protocol

July 6, 2021 by Roman Ahmed

Prime Minister summons high-level meeting to discuss Pandora leaks

Prime Minister Imran Khan has decided to save more of taxpayers’ money by not “going to any private function with protocol & security”. In a set of tweets from his official Twitter handle, the prime minister said the decision is taken to save taxpayer money and to avoid inconvenience for the public. Whereas, earlier today … Read more

PM Directs To Send Notices To Sugar Mill Owners For Evading Taxes Worth Billions

February 3, 2021 by Aizbah Khan

Rs4.143 Trillion Revenue Collected In First 11 Months OF Current FY

Prime Minister Imran Khan has directed to issue notices to the owners of sugar mills involved in tax evasion. During the meeting of the Federal Board of Revenue (FBR) in Islamabad, the Prime Minister expressed frustration over the non-amendment of the law on concealment of tax details. The Prime Minister said that it was a … Read more

Taxpayers Are Benefactors Of Pakistan Who Deserve A Tribute: PM

January 10, 2021 by Aizbah Khan

PM Imran Khan twitter overseas Pakistanis

Prime Minister Imran Khan has termed the country’s taxpayers as deserving of tribute and said that they are benefactors of Pakistan. The Prime Minister was briefed on tax reforms in Islamabad. According to a statement issued from the Prime Minister’s House, the meeting was informed that tax collections have exceeded Rs 2,205 billion during the … Read more

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