02092016Tue
Last update: Tue, 09 Feb 2016 12pm

Taxation: Pakistan

Archive: 

The Federal Board of Revenue (FBR) has notified extension in date of filing of Income Tax returns for the Tax Year 2015 for individuals and Association of Persons up to February 29, 2016. According to Income Tax circular issued here on Monday, in exercise of the powers conferred under Section 214-A of the Income Tax Ordinance, 2001, the Federal Board of Revenue is pleased to extend the date of filing of Income Tax returns for the Tax Year 2015 as under:
The Federal Board of Revenue (FBR) has started recovery of Super Tax from companies where the recovery has not been stayed by courts. Official sources told Business Recorder here on Monday that the Super Tax would be recovered from the units where courts have not granted stay orders against recovery of Super Tax by the FBR. In certain cases, High Courts have issued orders in favour of the FBR pertaining to the Super Tax, officials added.
The government can eliminate illicit cigarette sector through amendments in Federal Board of Revenue's (FBR) Federal Excise Rules to held retailers responsible for selling cigarette below printed price, audit of tobacco leaf thrashing plants and revision in regulatory framework, ie introduce spot fines and summary trials at the point of enforcement.
The Federal Board of Revenue (FBR) has decided to implement ''Withholding Tax Audit Plan'' at national level for conducting audit of withholding agents to ensure timely deduction and deposit of tax by such agents in 2015-16. In this regard, the FBR has issued instructions to the field formations.
Appellate Tribunal Inland Revenue, Pakistan (ATIR) has ruled that Federal Tax Ombudsman (FTO) can take notice of any maladministration in any wing of Board (FBR) and could suggest measures to curb the maladministration while suggesting a disciplinary action against authorities is out of domain of the ATIR.
The Federal Board of Revenue (FBR) has transferred and posted 17 officials of Inland Revenue Service (BS-20-21) and Pakistan Customs Service with immediate effect. According to a notification issued here on Saturday, the Federal Board of Revenue has made transfers and postings of following 13 officers of Inland Revenue Service (BS-20-21) with immediate effect.
The Federal Board of Revenue (FBR) has proposed a new policy for placing tax defaulters on the Exit Control List (ECL) by reducing the limit of Rs 50 million of tax default to Rs 15 million to ensure that big tax evaders should not escape Pakistan. Sources told Business Recorder here on Friday that the FBR has proposed the new policy of placing tax defaulters on the ECL to the Ministry of Interior. The purpose of the new policy is to review the Exit Control List pertaining to the tax evaders. The proposals of the FBR have been examined by Ministry of Interior and proposals have been finalised to review the Exit Control List of tax defaulters.