If done right, this will help widen the tax net in Pakistan and make tax auditors faster and more efficient

Non-filer include both people who pay tax on their income and those who evade it

The country’s largest private airline owes Rs1.5 billion to the FBR and Rs1.4 billion to the CAA

The FBR has issued notices to these people

People on salaries are likely to see a cut in their pay cheques

If the FBR were doing its job, it would be going after businesses that cook their books and show losses to avoid paying taxes

The FBR collected Rs1.6 billion from direct taxes last year, 65% of which was withholding tax

The Federal Bureau of Revenue has clarified that it has not issued any instructions regarding freezing of bank accounts maintained by non-filers of income tax returns. “In order to allay the misconception being caused by a segment of print media regarding freezing of bank accounts held by non-filers of income tax return, it is clarified…

If you have assets abroad that you haven’t declared and didn’t avail the FBR’s tax amnesty scheme then you’re in trouble. The FBR is going to take action against people with undeclared assets abroad and tax evaders within Pakistan. The FBR had introduced the tax amnesty scheme to widen the tax net. As part of…

The PML-N-led government announced the tax amnesty scheme earlier this year

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…