Tag Archives: Inland Revenue

IR offices to observe extended working hours on Dec 29, 30

ISLAMABAD: Federal Board of Revenue (FBR) has directed all the offices of Inland Revenue to observe extended working hours on December 29 & 30 to facilitate taxpayers in payment of duty and taxes.

Sales tax zero-rating available for imported labelled cloths

KARACHI: Federal Board of Revenue (FBR) has said that sales tax zero rate facility is available for imported labelled cloths even it is finished fabric under Pakistan Customs Tariff.

Vast powers given to Inland Revenue officer under Benami law

KARACHI: The Benami law passed by National Assembly has empowered officials of Federal Board of Revenue (FBR) with vast powers in investigating benami transactions.

Clearance certificate made must for ex-Pakistan leave requested by IR officials

KARACHI: Federal Board of Revenue (FBR) has directed head of Inland Revenue offices to send clearance certificate along with cases forwarded to headquarters for grant of ex-Pakistan leave and other matters.

Benami transactions legislation next month; IR officials given tax return enforcement of 10 years

KARACHI: The government will seek parliamentary approval for legislation regarding benami transactions next month to prevent tax evasion, officials in Federal Board of Revenue (FBR) said.

Customs data to be linked with domestic taxes for identifying new taxpayers

KARACHI: The Federal Board of Revenue (FBR) will establish a direct link between data of Pakistan Customs and Inland Revenue (IR) for identifying potential taxpayers.

Finance Act 2016: Commissioner Inland Revenue barred from recovery in appeal cases, taxpayer requires to pay 25pc of due amount

KARACHI: A Commissioner Inland Revenue has been barred from issuing recovery notice to a taxpayer where an appeal has been filed before adjudication. However, this restriction is subject to 25 percent payment of due amount by the taxpayer.

FBR may take assistance from banking experts for property valuation to determine fair value

KARACHI: The Federal Board of Revenue (FBR) may take assistance from a team of experts for valuation of property in those cases where commissioner Inland Revenue (IR) believes property value has been declared much lower than fair market value.

Finance Bill 2016: IR officials empowered to recover unpaid sales tax withholding

KARACHI: Inland Revenue officials have been empowered to recovery amount from a person, who fails to withhold under sales tax laws or fails to deposit the same.

Chief Commissioner Inland Revenue authorized to sanction reward amount

KARACHI: Chief Commissioner of Inland Revenue has been authorized to sanction the reward amount to officials from BS-1 to BS-19 and persons, registered with Federal Board of Revenue (FBR) as informer.