FBR sends notices to 340 potential tax evaders
A big percentage of the identified high net worth individuals belong to areas that don’t fall under the purview of the federal government’s tax jurisdictions
FBR unearths 16,000 tax evaders with investments in realty sector
In the last two years, over 80,000 transactions worth around Rs800 billion (according to deputy commissioner rates) were recognized however the market value of these transactions is probably going to be much higher than the aforementioned figure
OICCI demands immediate settlement and release of Rs59 billion in tax refunds
The tax regulator owes Rs26 billion in shape of sales tax and Rs33 billion in income tax refunds to the OICCI members
From rags to riches, chasing the Pakistani dream
The story of a man who took the world head on and is winning while coining a new phenomenon ‘the Pakistani dream’.
Govt reimposes restrictions on non-filers as NA approves amended finance bill
Non-filers will be unable to purchase vehicles, properties worth over Rs4m until they pay their returns
Revenue collection under sales tax & FED plateaued in July-Sep FY19
During the first quarter of FY19, FED collection plunged by 30 percent to Rs2.069 billion against Rs2.94 billion in the corresponding period of FY18
FBR again misses the mark, collects Rs36 billion in taxes during 1st quarter
In the first quarter of FY19, the tax regulators’ provisional net revenue collection was recorded at Rs836 billion compared to Rs766 billion collected in the same period of FY18, according to an official handout published by FBR on Sunday
FBR to hold special audit for ‘creative’ defaulters
As many as 3,661 people got prepared draft declarations of trillions of rupees assets to get them legalised under the amnesty scheme
The...
PEW criticises encouragement of non-filers
ISLAMABAD: The Pakistan Economy Watch (PEW) has said that relaxation given to non-filers to purchase property and cars has encouraged the tax...
Tax regulator may fail to attain quarterly tax collection target by Rs30 billion
With only two days left in September, till now less than 300,000 people and corporations have filed their annual income tax returns
FBR gears up to launch crackdown against tax evaders
An official who preferred to remain anonymous told the crackdown will commence from next week based on the details obtained under the exchange of information with OECD member countries
Govt constitutes subgroup in EAC to double tax collection
The sub-group has been assigned to formulate a tax policy by end of October
Senate panel votes against proposal to decrease customs duty rates
The standing committee proposed a decrease in income tax rate for salaried persons from 25 percent to 20 percent and 29 to 25 percent for the business community
Govt hints at removing restrictions on purchase of vehicle, property
The PML-N govt had last year tightened the noose around non-filers by imposing restrictions
ISLAMABAD:Â The government may review the removal of conditions imposed...
Govt’s tax collection can go through the roof
From an academic to leading Punjab’s digital revolution, PITB Chairman Umar Saif has overseen the largest land record digitisation in Pakistan in an effort to not just end corruption and land grabbing but in a bid to promote land as a liquid asset