Last update: Mon, 08 Feb 2016 08am

Taxation: Pakistan


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.
Finance Minister, Mohammad Ishaq Dar here on Friday chaired a meeting to review progress of revenue collection in the ongoing January- March quarter. The meeting also discussed the revenue targets set to be achieved during the period from January to June 2016, said a statement issued by Ministry of Finance here. Dar appreciated the efforts of the FBR for expanding the tax net and facilitating the tax payers.
Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has said that elimination of black economy was vital for broadening the tax base, facilitating trade and investment, reducing cash economy and corruption. Hailing the recently announced Voluntarily Tax Compliance Scheme (VTCS), he said that the business community will always extend its cooperation to the government in the larger interest of the country's development.
Pakistan Customs has shifted the clearance of Afghanistan and Central Asia bound perishable items from Customs Station Torkham to recently operationalised Khyber Border Terminal (KBT), Jamrud, Khyber Agency. This was stated by Deputy Collector Customs Stations Torkham, Najeeb Arjumand while talking to journalists, here on Thursday.