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Federal Board of Revenue (FBR) has signed a contract to purchase 800,000 to 1,000,000 cards to replace NTN certificates at an exorbitant rate of Rs 250 per card with Nadra purportedly in violation of PPRA rules. A particular 'Tehslin card' is being purchased at Rs 250 including, data registration and courier delivery to the taxpayer.

For the first time in the history of Federal Board of Revenue (FBR) tax return forms have been issued well before time and information relating to agricultural income tax has been sought from the taxpayers. The FBR has issued draft of the income tax return form for companies for Tax Year 2014 through an SRO.686(I)/2014 here on Wednesday.
The Federal Board of Revenue (FBR) has to immediately put in place an effective mechanism under the Web Based One Customs (WeBOC) clearance system to automatically maintain the record of imports of HCFCs to prevent illegal/excessive imports of the said ozone-depleting substances.
The Federal Board of Revenue (FBR) has called explanation of (Grade17 and above) tax officials working in Large Taxpayer Unit (LTU) Islamabad, Regional Tax Office (RTO) Islamabad and RTO Rawalpindi. These officials failed to participate in the FBR workshop on budgetary changes made in federal tax laws through Finance Act, 2014.
Mistrust shown by Islamabad directorate-general of Intelligence and Investigation (DGI&I)-FBR, to share information relating to diesel smuggling with FBR's Karachi DI&I-FBR, has put a big question mark on the performance of Karachi office. Sources said that Hyderabad's Field Intelligence Unit (FIU), on the credible information received from Islamabad's DGI&I, seized two oil tankers - TLV 688 and TLW-698, carrying 0.12 million liters of diesel on July 21 & 22, respectively.
The Federal Board of Revenue (FBR) has provisionally collected Rs 109 billion during first 23 days of July 2014 against Rs 69 billion in same period of 2013-14, reflecting a growth of 57 percent. According to the revenue collection data compiled by the FBR here on Wednesday, the FBR witnessed a handsome growth of 57 percent in July 2014 when compared with the same period of previous year.
The Federal Board of Revenue has provisionally collected over Rs 83.081 billion during first 22 days of July 2014 against Rs 43.788 billion in same period of 2013-14, reflecting an increase of 89.7 percent. According to the revenue collection data compiled by the FBR here on Tuesday, the collection of domestic taxes (direct taxes, sales tax and Federal Excise Duty) amounted to Rs 71.804 billion during first 22 days of July 2014 against Rs 36.179 billion in the corresponding period of 2013-14, showing a growth of 98.5 percent.

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln