AVN 67.75 Decreased By ▼ -0.73 (-1.07%)
BAFL 30.82 Decreased By ▼ -0.18 (-0.58%)
BOP 4.84 Decreased By ▼ -0.07 (-1.43%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DFML 14.05 Decreased By ▼ -0.18 (-1.26%)
DGKC 41.04 Decreased By ▼ -0.60 (-1.44%)
EPCL 47.21 Increased By ▲ 1.84 (4.06%)
FCCL 11.58 Decreased By ▼ -0.13 (-1.11%)
FFL 5.11 Increased By ▲ 0.01 (0.2%)
FLYNG 5.95 Increased By ▲ 0.10 (1.71%)
GGL 11.17 Increased By ▲ 0.76 (7.3%)
HUBC 67.68 Decreased By ▼ -0.82 (-1.2%)
HUMNL 5.71 Decreased By ▼ -0.04 (-0.7%)
KAPCO 28.03 Decreased By ▼ -0.19 (-0.67%)
KEL 2.28 Increased By ▲ 0.02 (0.88%)
LOTCHEM 26.25 Increased By ▲ 1.15 (4.58%)
MLCF 21.58 No Change ▼ 0.00 (0%)
NETSOL 86.53 Decreased By ▼ -1.82 (-2.06%)
OGDC 99.78 Increased By ▲ 0.48 (0.48%)
PAEL 11.08 Decreased By ▼ -0.03 (-0.27%)
PIBTL 4.23 No Change ▼ 0.00 (0%)
PPL 80.05 Decreased By ▼ -2.40 (-2.91%)
PRL 13.26 Decreased By ▼ -0.08 (-0.6%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 43.75 Decreased By ▼ -0.63 (-1.42%)
TELE 6.08 Decreased By ▼ -0.10 (-1.62%)
TPLP 15.88 Increased By ▲ 0.07 (0.44%)
TRG 121.33 Increased By ▲ 1.58 (1.32%)
UNITY 14.04 Decreased By ▼ -0.06 (-0.43%)
WTL 1.31 Increased By ▲ 0.05 (3.97%)
BR100 4,181 Increased By 9.7 (0.23%)
BR30 15,270 Increased By 16.5 (0.11%)
KSE100 41,723 Increased By 200.6 (0.48%)
KSE30 15,746 Increased By 83 (0.53%)
Follow us

LAHORE: The Federal Board of Revenue (FBR) has restored the sanctity of the last date of filing of income tax return after many years and taxpayers have filed 2.3 million returns till 31st December compared to 2.17 million last year.

The income tax paid during filing of returns stood at Rs43.5 billion compared to only Rs28 billion deposited last, showing an increase in tax deposit with returns of 55 percent, said Special Assistant to Prime Minister (SAPM) on Revenue Dr Waqar Masood.

According to him, the decision to not extend the income tax return filing date was part of the grand scheme of things to foster a tax compliant society that honours its tax commitments and obligations. He said taxpayer education and facilitation would be complemented by strict enforcement efforts that have zero tolerance for tax evaders and smugglers. He said the FBR would keep doing its best in keeping up its efforts of transitioning to a modern tax service whose ethos is 'Taxpayer First Attitude'.

He said the FBR is adopting enforcement measures that include operations against tax evaders and anti-smuggling drive with actions against Benami transactions. Pakistan Customs seizes smuggled vehicles worth Rs120 million in coordination with Frontier Corps and Balochistan Police after raiding a showroom situated on Quetta-Chamman Highway and seized 24 luxury vehicles.

The Pakistan Customs is taking landmark steps to seize smuggled goods and protect the market and the interest of traders involved in legal trade. He said such actions would not only protect the market from hazardous and smuggled goods but will also promote foreign direct investment by boosting the confidence and trust of investors.

He further said the FBR has instructed its field formations to gear up their anti-smuggling operations against illicit and smuggled cigarettes. Already, he said the Intelligence & Investigation Customs has seized 6.7 million cartons of smuggled cigarettes from July 2020 to November 2020 having an approximate value of Rs542 million. Also, he said, the Inland Revenue Enforcement Network (IREN) has seized 35.8 million sticks of cigarettes during the period from July 2020 to November 2020.

Copyright Business Recorder, 2021

Comments

Comments are closed.

FBR restores sanctity of tax return filing deadline: SAPM

Rupee up 1.08%, settles at 273.33 against US dollar

OGRA calls for action against hoarders of petrol, diesel in Punjab

Fed's Waller sees no sign of 'quick' decline in inflation

KSE-100 increases 0.48% owing to hopes of breakthrough in talks with IMF

ECP should announce election schedule for KP, Punjab: President Alvi

Holding polls in Punjab can be difficult as operation against militants underway, IG tells ECP

Amir Dogar among 12 PTI workers arrested in Multan

Turkish bourse shut for 5 days after quake, Wed trades cancelled

More survivors found as Turkiye-Syria quake toll tops 11,200

Google to soon add generative AI features in search results