Tag Archives: Tax Reform Commission

FBR discusses TRC recommendations for broadening tax base


ISLAMABAD: The tax authorities have discussed the recommendations presented by Tax Reform Commission (TRC) in order to enhance tax revenue and broaden the tax base.

Federal, provincial governments should design immovable property valuation: Tax Reform Commission


KARACHI: Tax Reform Commission (TRC) constituted by the Finance Minister has recommended immovable property valuation in various categories should be designed by federal government in coordination with provincial governments.

ADRC decision to prevail if FBR fails to respond in 90 days


KARACHI: The decision taken by Alternate Dispute Resolution Committee (ADRC) will be implemented in case Federal Board of Revenue (FBR) fails to respond in three months.

Commission terms PTR in direct conflict with equity


KARACHI: Presumptive Tax Regime (PTR) has been termed as direct conflict with the principal of equity which helped short revenue gains.

Changes to income tax laws to arrest illegal outflows likely


KARACHI: The government is considering to amend laws to check tax evasion and illegal outflow from Pakistan. In this regard certain changes to income tax laws and economic reform act are on the cards in the budget 2016/2017, sources in Federal Board of Revenue (FBR) said.

Seizing undeclared outside Pakistanis assets recommended


KARACHI: A commission constituted by Finance Minister Senator Ishaq Dar has recommended amending tax laws to impose income tax on persons have undeclared immovable property outside Pakistan.

Independent tax courts under consideration: FBR sources


KARACHI: The government is considering to set up independent tax courts for speedy justice in tax matters as stuck up liquidity is problem for both taxpayers and tax managers.

FBR hiring CEO PRAL on harsh criticism, recommendation of Tax Reform Commission


KARACHI: The Federal Board of Revenue (FBR) is hiring a Chief Executive Officer (CEO) for Pakistan Revenue Automation Private Limited (PRAL) after severe criticism and recommendation by Tax Reform Commission, which was constituted by the finance minister.

List of green channel companies for customs clearance recommended


KARACHI: A commission constituted by the Finance Minister has recommended creation of a list for green channel companies for facilitating at customs clearance stage with fixation of minimum criteria.

FBR completes working on single stage, single digit sales tax; discusses with IMF


KARACHI: The Federal Board of Revenue (FBR) has completed the working on single-stage and single digit sales tax that is under consideration to be implemented by eliminating exemptions and concessions and without any input adjustment. However, in order to protect the export sector some of relaxation would be available in such regime.