Delay in sales tax payments: Fibres’ manufacturer fails to furnish explanation LAHORE: A fibres manufacturer has failed to furnish plausible explanation for sales tax payments while agitating ... Published 16 Apr, 2024 03:38am
Business & Finance Transaction against a taxpayer: Authorities fail to establish re-characterization LAHORE: Tax authorities fail to establish re-characterization of a transaction against a taxpayer in the absence of... Published 05 Apr, 2024 04:50am
Editorials FBR overstepping the line EDITORIAL: About time the Islamabad High Court (IHC) gave honest taxpayers, swindled by the FBR (Federal Board of... Published 05 Apr, 2024 04:50am
Business & Finance Tax officer passes assessment order beyond show-cause notice LAHORE: A tax officer passed an assessment order beyond the show-cause notice without confronting the same to the... Published 27 Mar, 2024 04:38am
Business & Finance Capricious tax officer rectifies order after settlement by relevant forums LAHORE: A capricious tax officer has proceeded to rectify the very order-in-original despite the matter having been... Published 20 Mar, 2024 03:00am
Business & Finance FBR notice issued within 6 years: ‘Taxpayer bound to maintain tax record till...’ ISLAMABAD: Federal Tax Ombudsman (FTO) Friday declared that once Federal Board of Revenue’s (FBR) notice is issued... Published 16 Mar, 2024 06:26am
Business & Finance Cotton processor secures input tax refund LAHORE: A cotton processor has secured input tax refund, which was rejected by the sales tax department after the... Published 05 Mar, 2024 03:09am
Business & Finance Deduction of WHT: Pipe maker fails to shift onus on tax dept LAHORE: A pipe manufacturer failed to shift onus on the tax department against deduction of withholding tax without... Published 02 Mar, 2024 04:16am
Business & Finance Taxpayer claims audit proceedings conducted under repealed provisions LAHORE: A taxpayer has alleged the income tax department to have used repealed provisions of the law to carry out... Published 28 Feb, 2024 06:10am
Markets Yarn trader succeeds availing concessional rate after legal fight LAHORE: A yarn trader has succeeded in availing the facility of concessional rate despite a hot pursuit of the tax... Published 18 Feb, 2024 03:01am
Business & Finance RMG chain store remains unable to prove misuse of authority LAHORE: A Readymade Garment (RMG) chain store could not prove misuse of authority by Commissioner Inland Revenue... Published 17 Feb, 2024 05:51am
Business & Finance FTO orders probe into bank account attachments without recovery notice ISLAMABAD: Federal Tax Ombudsman (FTO) has ordered to conduct an investigation against Secretary Revenue Division ... Published 26 Jan, 2024 04:58am
Business & Finance Sales: tax practitioners point out major anomaly LAHORE: Treating sales alone as income without considering purchases in order to establish suppression of sales is... Published 18 Jan, 2024 05:54am
Business & Finance E-processing, e-issuance of refund: FBR still requires order by court or FTO’s recommendation ISLAMABAD: In spite of insertion of section 170A in the Income Tax Ordinance 2001 through Finance Act 2021, the... Published 18 Jan, 2024 05:54am
Business & Finance ATIR Lahore explains how foreign companies should approach ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR) Lahore has unanimously held that the foreign companies have... Published 31 Dec, 2023 03:04am
Business & Finance Gujrat Tax Bar Association demands streamlining of services for taxpayers GUJRAT: The Gujrat Tax Bar Association, led by President Khurram Taufiq Malik and General Secretary Tahir Hassan... Published 19 Dec, 2023 05:20am
Business & Finance Ship-breaking firm recovers damages against tax dept LAHORE: A private firm involved in the business of ship breaking has recovered damages against the Income Tax... Published 29 Nov, 2023 05:09am
Pakistan Plea against harassment: FTO summons FBR member, commissioner tomorrow ISLAMABAD: The Federal Tax Ombudsman (FTO) has summoned Member Operations-IR, Federal Board of Revenue (FBR) and... Published 23 Nov, 2023 03:19am
Business & Finance IMF loan termed a short-term solution to help country avert default KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, Mian... Published 18 Nov, 2023 06:03am
Business & Finance Discos, NTDC, CPPA-G: FTO seeks FBR clarification on attachment of bank accounts ISLAMABAD: The Federal Tax Ombudsman (FTO) Dr Asif Jah has directed Member Inland Revenue (Operations) Federal Board... Published 16 Nov, 2023 05:39am
Business & Finance Recovery notices under Sec 138: FTO orders probe against FBR ISLAMABAD: The Federal Tax Ombudsman (FTO) has ordered an investigation against the Federal Board of Revenue (FBR)... Published 05 Nov, 2023 03:10am
Business & Finance FBR admits abolished ‘circle-based system’ much better than reformed‘functional-based system’ ISLAMABAD: The Federal Board of Revenue (FBR) has admitted that the abolished “Circle-based system” was much... Published 16 Sep, 2023 03:03am
Business & Finance FBR not ‘rewarding’ taxpayers for timely paying due taxes: report ISLAMABAD: A taxpayer’s survey of the Federal Board of Revenue (FBR) revealed that the FBR is not ... Published 15 Sep, 2023 06:31am
Business & Finance KTBA points out two more ‘glitches’ in FBR’s ‘IRIS 2.0’ KARACHI: Karachi Tax Bar Association (KTBA) has now highlighted two more glitches in an updated version of FBR’s... Published 12 Sep, 2023 06:22am
Business & Finance FTO recommends a taxpayer-friendly automated system ISLAMABAD: The Federal Tax Ombudsman (FTO) has strongly recommended that the Federal Board of Revenue (FBR) should... Published 30 Aug, 2023 03:33am
Business & Finance Delay in allowing effect to court orders tantamount to maladministration: FTO LAHORE: The Federal Tax Ombudsman (FTO) has declared that a delay in allowing effect to the higher court orders by... Published 18 Jul, 2023 05:51am
Opinion Huge global economic policy challenges ‘The world is facing numerous extreme, interlinked challenges, including a climate emergency and growing economic... Published 16 Jun, 2023 06:27am
Business & Finance How deduction for bad debt can be allowed? LAHORE: No taxpayer can seek a deduction for a debt as bad debt unless it is treated in the books and accounts as ... Published 31 May, 2023 03:56am
Business & Finance Stock-in-trade: tax officials attract accusation LAHORE: Income tax officers are accused of calculating stock-in-trade of sales tax returns in the income tax returns... Published 03 May, 2023 06:35am
Business & Finance Family expenses: FTO deattaches taxpayer’s bank account LAHORE: The Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jan has directed the tax authorities to de-attach the bank... Published 02 May, 2023 05:59am