Monthly Archives: January 2018

FBR maps 20,000 potential taxpayers for taking action

ISLAMABAD: Federal Board of Revenue (FBR) has initiated action against 20,000 potential taxpayers and so far issued 2,000 notices for registration.

FBR officers BS-17 and above directed to declare dual nationality

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday directed all its officers including Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) BS-17 and above to submit declaration in case of having dual nationality.

FBR increases sales tax on POL products

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified increase in sales tax on petroleum products.

Currency notes with Bajwa’s signature to be issued from Feb 02

KARACHI: State Bank of Pakistan (SBP) on Wednesday said that it will issue currency notes bearing signature of the present governor of the central bank from February 02, 2018.

FBR collects Rs2 trillion in July – January 2017/2018

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs2 trillion during first seven months of current fiscal year, posting 17.71 percent growth when compared with Rs1.699 trillion in the corresponding period of the last fiscal year.

Power generating machines import declines by 26.13 percent

KARACHI: The import of power generating machines has declined significantly by 26.13 percent during first half of the current fiscal year owing to improvement in availability of electricity in the country.

40 probationary officers of BS-17 join Inland Revenue Service

ISLAMABAD: Federal Board of Revenue (FBR) has issued a list of 40 officers of BS-17, who have joined Inland Revenue Service (IRS) as probationary officers.

Bank holiday on Kashmir Day

KARACHI: State Bank of Pakistan (SBP) on Tuesday said the central bank will remain close on February 05 on the occasion of Kashmir Day.
In a statement, the SBP said that it will remain closed on 5th February, 2018 (Monday) on the occasion of “Kashmir Solidarity Day” as declared by the Government of Pakistan.

FBR constitutes alternative dispute resolution committees in 15 cities

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday announced panels of leading tax consultants and chartered accountants for and former tax officials for constituting committees for Alternative Dispute Resolution (ADR) to resolve cases in Income Tax, Sales Tax and Federal Excise.

FBR allows withholding tax exemption on import of Rs10,898,000 million construction material by Chinese company

ISLAMABAD: Federal Board of Revenue (FBR) has allowed exemption from withholding income tax to a Chinese company on import of construction material amounting up to Rs10,898,000 million.