Tag Archives: Federal Board of Revenue

Weekly ATL adds 8,985 return filers

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ISLAMABAD: The number of active taxpayers has been increased by 8,985 to 1,158,460 by week ended May 21 from previous number of 1,149,475 in the Active Taxpayers List (ATL) a week ago, Federal Board of Revenue (FBR) said on Monday.

FBR’s key measures likely to be presented through Finance Bill

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ISLAMABAD: Federal Board of Revenue (FBR) is likely to propose measures for enhancing revenue and broadening of tax base through Finance Bill 2017 to be presented on May 26.

Budget Proposals 2017/2018: Initial depreciation allowance at 50pc for plants and machinery recommended

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KARACHI: Textile industry has proposed 50 percent initial depreciation allowance rate for plants and machinery as was the case prior to the Finance Act, 2014.

Budget Proposals 2017/2018: FBR should respect withholding agents, allow some waivers

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KARACHI: Textile industry has urged the Federal Board of Revenue (FBR) to respect withholding agents and allow some tax credits/incentives or waiver of default surcharge/penalties especially in respect of raw material / manufacturing goods.

Budget Proposals 2017/2018: removal of 7pc customs duty on polyester import recommended

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KARACHI: The textile industry has demanded withdrawal of 7 percent customs duty on import of polyester in order to regain market share.

Budget 2017/2018: Expected targets; Rs4 trillion tax revenue

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KARACHI: Overall budget outlay for fiscal year 2017/2018 is expected to be set in excess of Rs5.5 trillion as tax revenue target is likely to be set an aggressive Rs4 trillion, 13 percent higher.

FBR directs adjustment of refunds in recovery cases

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KARACHI: Federal Board of Revenue (FBR) has directed officials to adjust refunds of taxpayers against demand created as result of any assessment order.

Budget Proposals 2017/2018: Duty, tax concession demanded on import of above 1,100 KVA generators

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KARACHI: Federal Board of Revenue (FBR) has been urged to allow duty and tax concession on import of generators above 1,100 KVA in order to make competitive the export oriented textile units in the international markets.

Budget Proposals 2017/2018: Compensation should be give against delayed issuance of RPOs

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KARACHI: Textile industry has demanded compensation for delayed issuance of cheques against Refund Payment Orders (RPOs) along with refund payment.

Budget Proposals 2017/2018: Textile industry suggests continuation of sales tax zero-rating

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KARACHI: Textile industry has recommended Federal Board of Revenue (FBR) to continue the sales tax zero-rating for export sector in the upcoming budget 2017/2018 by removing further tax at two percent.