The cellular services consumers will get 100 % credit on the recharge of Rs. 100 prepaid card after midnight on Thursday. The consumers will enjoy the tax free mobile credit for 15 days on the orders of the Supreme Court. After 15 days, the FBR and service providers would devise a new mechanism to deduct…

Minister for Finance Miftah Ismail said an incentive package for exports would soon be announced. He was addressing post-budget news conference along with Special Assistant to Prime Minister on Revenue Haroon Akhtar in Islamabad today (Saturday). Finance Minister has dispelled the impression that expenditure of departments would increase during next financial year. He said efforts…

Have a look at the tax payment of some prominent politicians, including Nawaz Sharif, Shehbaz Sharif and Imran Khan, who undoubtedly own assets of billions of rupees. They pretend that they are worried about tax evasion in the country, but do their tax payments reflect it?

ISLAMABAD: Special Assistant to Prime Minister on Revenues, Senator Haroon Akhtar Khan here on Tuesday said that budget 2018-19 would be pro-poor, business-friendly and government would focus on the areas, which were not covered properly during the previous years. Addressing a launching ceremony of payment of taxes through banks, alternative delivery channels at Federal Board…

NEWS DESK: The Federal Board of Revenue (FBR) has recorded a provisional net revenue collection of over Rs2 trillion with an increase of around 17.65% during the first eight months of the current financial year, reported Radio Pakistan. In a statement, the FBR spokesperson said the provisional collection for the current month is Rs263 billion…

ISLAMABAD: Federal Board of Revenue (FBR) Friday took strong exception to the news reports appeared in a section of the press, claiming that the downward revision of real estate valuation for some areas has partially reversed the policy decision taken in 2016. The decision taken in 2016 was made for adoption of market value of real…

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date of filing of returns and statements for the tax year 2017 upto December 2017. According to FBR notification issued here, the date of filing of returns of total income and statements of final taxation, which was due on August 31 2017 and extended up…

Islamabad: The Federal Board of Revenue (FBR) has launched facility for online verification of exemption certificates to facilitate taxpayers and check certain malpractices. The facility is expected to resolve the long-standing problem faced by the withholding agents and put an end to the practice of using fake exemption certificates to evade genuine tax liability, officials…

ISLAMABAD: The Federal Board of Revenue (FBR) formally started investigations against 19 out of 135 citizens of Pakistan mentioned in Paradise Papers. Sources privy to the FBR said details of these persons have been sought from the concerned institutions including Securities Exchange Commission of Pakistan (SECP), State Bank of Pakistan (SBP) and National Database Registration…

ISLAMABAD: Federal Board of Revenue has collected 1074 billion rupees during the first four months of the current fiscal year recording an increase of around 20.4 percent over the revenue collected during the corresponding period of the last fiscal year. According to FBR, refunds during this period have been issued to the tune of 42…

LAHORE: Lahore High Court (LHC) on Wednesday stopped the Federal Board of Revenue (FBR) from taking any coercive measures against singer Rahat Fateh Ali Khan over alleged tax evasion charges. However, the court directed the petitioner-singer to approach the concerned forum to avail first remedy. Justice Shahid Jamil of the LHC passed the orders while…

ISLAMABAD: The Federal Board of Revenue (FBR) has announced an increase in vehicle transfer fee for income tax filers, whereas a certain amount of transfer fee will be waived off for those who have filed their tax returns for the fiscal year 2017-18. FBR is aiming to tighten its grip on tax evaders who haven’t…

LAHORE: Federal Board of Revenue froze the bank account of Pakistani celebrity Noor over tax-evasion.   According to FBR officials, Noor did not pay did not pay taxes worth Rs. 1.4 million for the year 2015. FBR carried out a raid in a branch of a bank, located at defence area, and recovered Rs. 1,60,000…

ISLAMABAD: Federal Finance Minister Ishaq Dar on Monday presented himself before an accountability court, with tension written all over his face.  According to details, Dar showed up at the premises with a tense expression. His gaze never met the reporters’ and media personnel who had gathered at the venue to take his comments. Dar was…

KARACHI: A firing incident outside the office of Federal Bureau of Revenue (FBR) in Karachi on Monday claimed the lives of two guards. According to details, the firing incident occurred outside FBR’s office located at Gulistan-e-Johar. Two armed guards who were deployed for the FBR’s security were shot to death. Police, so far, do not…

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs 3,362.1 billion revenues during the outgoing fiscal year 2016-17, showing an increase of 8 percent in collection when compared to the tax figures of last fiscal year. During the last fiscal year the revenue collection was recorded at Rs 3,112.7, Chairman FBR, Tariq Pasha said while…

ISLAMABAD: The Federal Bureau of Revenue (FBR) on Tuesday made a shocking disclosure during a session of the Senate Committee on Finance that 2,700 Pakistanis received Rs 102 billion in gifts.  According to details, the said persons who received hefty amounts have been sent notices as an investigation has been launched to probe the matter….

PESHAWAR: Chairman Federal Bureau of Revenue (FBR) Dr Muhammad Irshad said on Wednesday that the Joint Investigation Team (JIT) had not blamed the federal institution for tampering with records.  Speaking to media officials in Peshawar, Dr Muhammad Irshad said that whatever record the Joint Investigation Team sought the FBR would hand it over to the…

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Dr. Muhammad Irshad said on Friday that he had submitted all records pertaining to the Sharif family from 1980 till the present day to the Joint Investigation Team. According to details, Dr. Muhammad Irshad said that he could not understand what record the Joint Investigation Team was referring…

The federal government believes the prices of estates in big cities are below their original estimate. Hence, it has started planning to increase property valuation rates by about 30 percent in major cities of the country. Common man who is already under myriad burdens, cannot build even a small house for himself if the real…

ISLAMABAD: Supreme Court of Pakistan has adjourned the hearing of Panama Case for two weeks as the joint investigation team – probing the offshore assets of Prime Minister Nawaz Sharif and his family, submitted its initial report, Samaa reported. According to details, a three-member of the top court headed by Justice Ejaz Afzal is hearing the case….