NAB to expand investigation into Rs60 billion tax evasion by cigarette industry
The Auditor General of Pakistan (AGP) office said the cigarette industry was involved in tax evasion to the tune of Rs33 billion
Govt takes away tax policy powers from FBR
A committee has been set up to chart out the legal and technical issues surrounding the decision
FBR and Commerce Ministry at loggerheads over National Tariff Policy
The approval of NTP was included in the hundred-day agenda of advisor to Prime Minister on Commerce, Industry, Textile and Board of Investment (BOI) which was missed
Tax department detects benami account being run by a property dealer
Federal Investigation Agency (FIA) on the instruction of Supreme Court is probing the fake accounts while I&I IR FBR have also detected a fake/benami account run by a big property dealer
Government reluctant to implement key reform on immovable properties
Notwithstanding, it is mandatory under Income tax law to establish the Directorate General of Immovable Property
Military makes income tax return filing mandatory for promotions
The official stated before the decrease in income tax rates, the army solely was paying nearly Rs398 million a month in income tax on salaries translating into a Rs4.8 billion yearly contribution to the national exchequer
Government gives go-ahead to proposals for tax policy revamp
The EAC subgroup put forward the suggestion of having an integrated tax system at the federal and provincial levels
FBR to employ experts to rein in tax evasion
The hiring of these individuals by FBR would be made under the World Bank-funded program, ‘strengthening tax system and building tax policy’.
‘Revised bill provides chance to tax payers for enhancement in taxable income’
About sales tax refund cases, Mr Tariq said that refund cases up to Rs100,000 would be paid at the RTO level while refund with huge amount would be released subject to the decision by the government
Provincial share of taxes in total revenues declines to 11% in July-Sep FY19
Notably, Sindh was an exception compared to the other three provinces which posted a growth of 10.8% in provincial taxes during the 1st quarter of FY19
FBR seeks cabinet approval to tax illegal mobile phones
As per the envisaged plan, the FBR has determined a plan to levy a tax on all those smuggled phones which are presently inactive and are stocked in shops as unsold
Pakistan’s new rulers grapple with an old problem: How to get people to pay taxes
One of the world’s lowest tax collection rates partly help explain the shoddy state of Pakistan’s hospitals and schools, and why the illiteracy rate hovers above 40 percent in the mainly Muslim nation of 208 million people
Pakistan’s first tranche of $1 billion aid from Saudi Arabia to arrive on Monday: Asad Umar
The second and third tranche are expected to be received over the course of next two months from Saudi Arabia
IMF proposes government to raise GST to 18% as part of comprehensive fiscal adjustment
IMF has recommended bolstering revenue collection at the import stage because of 26% depreciation of the rupee since January 2018 and imminent depreciation under its programme
FBR to probe 25 aviation companies amid fraud allegations
The Federal Board of Revenue (FBR) has received reports of misappropriation in the income tax and federal excise duty by several aviation...