Tag: tax

PRA seals office of Talal International for non-payment of tax

RAWALPINDI, Nov 23 (APP):Punjab Revenue Authority (PRA) here on Thursday sealed the office of Talal International/Manpower Recruitment Agent for non-payment of tax amounting to Rs 3 million. According to details, a PRA team conducted a raid on Talal International/Manpower Recruitment Agent located on Shamsabad Murree Road which was a tax defaulter of Rs 3 million.… Continue reading PRA seals office of Talal International for non-payment of tax

Cabinet approves levy of 40 % tax on banks’ windfall profit earned during 2021-22

ISLAMABAD, Nov 15 (APP):The Federal Cabinet in its meeting chaired by Caretaker Prime Minister Anwaar-ul-Haq on Wednesday, accorded approval, upon the recommendation of Federal Board of Revenue (FBR), to impose 40 percent tax on windfall profit earned by banks on the foreign exchange transactions during the years 2021 and 2022. The Finance Act, 2023 introduced… Continue reading Cabinet approves levy of 40 % tax on banks’ windfall profit earned during 2021-22

Efforts on to broaden tax base: Chief Commissioner IR

FAISALABAD, Sep 27 (APP):Chief Commissioner Inland Revenue (IR) FBR Faisalabad Zubair Bilal said on Wednesday the FBR had expedited efforts to broaden tax base by utilizing data of 30 major departments and banks. Addressing a meeting of business community in Faisalabad Chamber of Commerce & Industry (FCCI), he said that in the first phase, notices… Continue reading Efforts on to broaden tax base: Chief Commissioner IR

Govt to widen tax net, stemming leakages in tax collection instead imposing new taxation: Ahsan Iqbal

ISLAMABAD, Jun 10 (APP):Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said the government has initiated measures to widen the tax net and stem leakages in tax collection instead of imposing new taxation in the budget. Talking to a private TV channel, he said the government has enhanced Balochistan’s share in Public Sector Development… Continue reading Govt to widen tax net, stemming leakages in tax collection instead imposing new taxation: Ahsan Iqbal

PM directs for track, trace system in cigarette manufacturing units within two weeks

ISLAMABAD, April 4 (APP): Prime Minister Muhammad Shehbaz Sharif on Tuesday directed for installation of trace and track system in all the cigarette manufacturing units of the country within next two weeks to control tax evasion. The prime minister also directed for installation of automatic track and trace system in all the big sectors of… Continue reading PM directs for track, trace system in cigarette manufacturing units within two weeks

Gov’t keeps petroleum prices unchanged, extends tax returns’ date

ISLAMABAD, Oct 31 (APP):The government has decided to keep the prices of petroleum products unchanged for first half of November 2022 besides extending the last date for filing of tax returns. Briefing media here, Minister for Finance Senator Ishaq Dar also announced the government’s decision to increase the threshold of letters of credits (LCs) payments… Continue reading Gov’t keeps petroleum prices unchanged, extends tax returns’ date

President calls for documentation of businesses for levying just, fair taxes

ISLAMABAD, Sep 13 (APP):President Dr Arif Alvi has called upon the chambers of commerce and industry to motivate and convince their members to fully document their businesses for bringing transparency in the business inputs and outputs which would lead to levying of just and fair taxes. This, he said, would increase the tax base and… Continue reading President calls for documentation of businesses for levying just, fair taxes

Tax evaders in various industries not to be spared: Khawaja Asif

ISLAMABAD, Jun 24 (APP): Minister for Defence Khawaja Muhammad Asif on Friday said there was dire need to improve the tax culture in the country and those industrialists involved in evasion should not be spared. Speaking here at the National Assembly, the minister said that tax culture would have to be improved in various industries… Continue reading Tax evaders in various industries not to be spared: Khawaja Asif

President apologizes to an aged taxpayer over administrative injustice of FBR

ISLAMABAD, Jan 16 (APP): President Dr Arif Alvi has expressed dismay over the treatment of an 82-year-old tax payer by the Federal Board of Revenue (FBR) and directed FBR chairman to take punitive action against the entire chain of decision-makers involved in the case. Apologizing to the senior citizen Abdul Hamid Khan, the president said… Continue reading President apologizes to an aged taxpayer over administrative injustice of FBR

PM underpins efforts to boost exports, tax collection

ISLAMABAD Jan 11 (APP): Prime Minister Imran Khan Tuesday underlined that exports and tax collection were the two main driving agents to boost the country’s economy, over which the present government was fully focused. He said the government was making strenuous efforts to remove all hurdles and bottlenecks faced by exporters, investors and businessmen and… Continue reading PM underpins efforts to boost exports, tax collection

Shafqat Mahmood advises FBR to implement initiatives for business ease

Federal Minister for Education, Professional Training, National Heritage and Culture Shafqat Mahmood chairs the meeting of Cabinet Committee on Institutional Reforms at Cabinet division Islamabad on December 01,2021.

ISLAMABAD, Dec 01 (APP):Federal Minister for Education, Professional Training, National Heritage and Culture Shafqat Mahmood on Wednesday advised Federal Board of Revenue (FBR) to expedite implementation of the initiatives of ease of doing business and broadening of tax base. He was chairing a meeting of cabinet committee on institutional reforms(CCIR) at cabinet division. Establishment division… Continue reading Shafqat Mahmood advises FBR to implement initiatives for business ease

Tarin for redoubling efforts to launch taxpayer outreach initiative

Adviser to the Prime Minister on Finance and Revenue Mr. Shaukat Tarin chaired a meeting on broadening of tax base by the FBR at Finance Division, – Islamabad on 29th November, 2021

ISLAMABAD, Nov 29 (APP):Expressing his full support and confidence to the Federal Board of Revenue (FBR) team, Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin Monday advised it to redouble efforts for launching the taxpayer outreach initiative at the earliest to expand the existing tax base and boost the revenue collection. The… Continue reading Tarin for redoubling efforts to launch taxpayer outreach initiative

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