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
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
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
The government of UK has added the name of English leg-spinner Adil Rashid in the list of deliberate tax defaulters. According to the details, cricketer Adil owing to defaulting on over £100,000 in tax from April 6, 2013 to April 5, 2017. Rashid Ali said that his “tax is up to date now.” Rashid also … Read more
The Election Commission of Pakistan (ECP) summoned Pakistan Peoples Party Chairperson Bilawal Bhutto Zardari today. ECP summoned Bilawal to explain the contradictions in the value of his assets and tax returns. According to a notification issued earlier, Bilawal Bhutto Zardari to appear before the commission on January 14 (today). The ECP has asked the PPP … Read more
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
France on Tuesday warned the United States of strong European Union (EU) retaliation if it imposed tariffs on key French products ranging from sparkling wine to cheese to handbags, in an intensifying row over taxing digital giants that risks spiralling into a new trade war. The French parliament earlier this year infuriated the administration of … Read more
Advisor Treasurer Abdul Hafeez Shaikh said, the current account deficit has dropped significantly in five months while the fiscal deficit and trade deficit are also decreasing. According to the details, Advisor Finance Minister Abdul Hafeez Shaikh said in a press conference with the government economic team that in the last five months the domestic economy … Read more
Regional Taxpayer Unit –II registered unprecedented increase in salaried class income tax return filing in with increase of over 479 percent in the first quarter of 2019 as compared to the corresponding period of last year. According to the details shared by the Chief Commissioner RTU-II Ahmed Shuja Khan here on Wednesday in a briefing, … Read more
As the due date for filing return of income for the tax year 2019 is drawing nearer, outreach education and training seminars/workshops arranged by Regional Tax Office-II, Lahore are gaining momentum. Kiosks and return receipt counters have been established at all prominent commercial areas of Lahore, Kasur, Sheikhupura and Nankana. In order to ensure optimum … Read more
