Monthly Archives: February 2018

FBR revenue collection grows by over 17pc to Rs2,259 billion in eight months

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs2,259 billion during July – February 2017/2018 (first eight months) as compared with Rs1,920 billion collected in the corresponding period of the last fiscal year, showing 17.65 percent growth.

FBR announces sharp increase in sale tax on POL products

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified significant increase in sales tax rate on supply of kerosene oil and light diesel oil.

Tax mechanism on immovable property not to be changed: Rana Afzal

KARACHI: Rana Muhammad Afzal, Minister of State for Finance and Revenue, on Wednesday ruled out any change in taxation mechanism for immovable property transactions on the basis of valuation prescribed by Federal Board of Revenue (FBR).

POL product prices increased up to Rs6.28 per liter

ISLAMABAD: The government on Wednesday approved increase in prices of petroleum products effective from March 01, 2018.

FBR allows performance allowance to lady appraising officers

ISLAMABAD: Federal Board of Revenue (FBR) has allowed performance allowance equal to 100 percent of minimum of basic pay to lady appraising officers (BS-16) of Model Customs Collectorate (MCC) Islamabad.

Supreme Court orders banks to pay minimum pension of Rs8,000 with annual increment of 5pc

KARACHI: Supreme Court of Pakistan (SCP) has ordered payment of minimum pension of Rs,8000 for retired employees of banks.

Amnesty for undeclared foreign assets by mid-March: Rana Afzal

KARACHI: The government will announce an amnesty scheme for Pakistanis by mid-March to declare their foreign assets, Rana Muhammad Afzal, Minister of State for Finance and Revenue, said on Tuesday.

FBR appoints chief Centralized Sales Tax Refund Office

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday transferred and posted Hamid Hussain, BS-20, officer of IT cadre as Chief, Centralized Sales Tax Refund Office (CSTRO), FBR Headquarters, Islamabad.

Vested interests ruin FPCCI credibility: Dr Mehar

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) as a national chamber has lost its credibility to represent business community and resolve their problems as individuals are using the apex for their vested interests.

FBR issues last weekly ATL-2016; 1.42m returns filers recorded

ISLAMABAD: Federal Board of Revenue (FBR) has issued last weekly Active Taxpayers List (ATL) for Tax Year 2016 on Monday, which shows around 1.42 million annual income tax returns have been filed for the year under review.