Daily Archives: September 6, 2017

District taxation officer to ensure revenue collection, broadening of tax base

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ISLAMABAD: Federal Board of Revenue (FBR) has explained the changes to Income Tax Ordinance, 2001 through Finance Act, 2017 and said district taxation officers to ensure efficiency in collection and broaden the tax base.

Scope of NCCPL definition enhanced: FBR

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ISLAMABAD: Federal Board of Revenue (FBR) has explained the changes to Income Tax Ordinance, 2001 through Finance Act, 2017 and said the scope of definition of National Clearing Company of Pakistan Limited (NCCPL) has been enhanced.

‘Liaison office’ definition to plug revenue leakages: FBR

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ISLAMABAD: Federal Board of Revenue (FBR) has explained the changes to Income Tax Ordinance, 2001 through Finance Act, 2017 and said insertion of definition related to ‘liaison office’ will assist in plugging revenue leakages from interpretational issues arising with respect to definition and scope of the term “liaison Office”.

‘Durable goods’ excluded from FMCGs definition to avoid misinterpretation: FBR

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ISLAMABAD: Federal Board of Revenue (FBR) has explained the changes to Income Tax Ordinance, 2001 through Finance Act, 2017 and said that the objective to exclude durable goods from fast moving consumer goods (FMCGs) to guard against any possibility of misinterpretation.