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Taxation: Pakistan


The Federal Board of Revenue (FBR) Headquarters situated at Constitution Avenue is not in a position to have any meeting with the stakeholders like business community, tax practitioners and other government departments for the last over two weeks as protesters of the sit-ins of Azadi and Inqilab marches of Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) are occupying the Avenue.

Adjudication department of the customs department is reportedly dillydallying to issue show cause notices to importers, who are allegedly involved in multi-million tax evasion in fabric imports through misdeclaration. According to sources, Appraisement Collectorate West had made over 40 contravention reports against 13 fabric importers for their involvement in fabric consignments misdeclaration.
To facilitate taxpayers, the Federal Board of Revenue (FBR) has extended the date for filing of returns of total income/statement of final taxation, which is due from August 31, 2014, to September 30, 2014. In this regard, the FBR has issued circular number 4 of 2014 here on Thursday. As a measure of taxpayers'' convenience it has been decided by the FBR to extend the date of filing of tax returns for 30 days as August 31, 2014 last date of filing returns has been extended up to September 30, 2014.
Fifty four Excise and Taxation Inspectors (BS-14) have been promoted to the post of Assistant Excise and Taxation (AE&T) Officers (BS-16) on Regular/Acting charge basis as per recommendation of the Departmental Promotion Committee (DPC) and with the approval of competent authority.
The Sri Lankan Customs detained two containers imported from Pakistan declared as onions on suspicion on Wednesday evening, Custom's Spokesman Leslie Gamini said. He said Customs was waiting for the Court's Order to open the containers.
Customs Clearing, Forwarding and Borders Agents have said that National Accountability Bureau (NAB) during its ongoing investigations into Nato-ISAF container scandal has not proved allegations against any member of the community in Karachi, Peshawar and Quetta. But, they said that no officer from National Logistic Cell (NLC) and Pakistan Railways has been included in the investigation.
Active Taxpayer List (ATL) will be updated by the Federal Board of Revenue (FBR) on a fortnightly basis and it will be amended if the taxpayer has filed the tax return or statement under Income Tax Ordinance, 2001. The FBR has issued SRO.765(I)/2014 here on Wednesday to amend the Income Tax Rules, 2002 pertaining to Active Taxpayer List and Taxpayer Card.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln