Tag Archives: Fbr

FBR bids farewell to former DG

FBR bids farewell to former DG

LAHORE – Directorate of Federal Board of Revenue (FBR) Training and Research (Inland Revenue) arranged a function, the other day, to bid farewell to its first Director General Abdul Wadood Khan.
Wadood Khan headed the Directorate of Training and Research for over a year and retired on February 02, 2011. He was replaced by another senior FBR officer Shahid Nasim. Speaking on this occasion, Abdul Wadood Khan said that his stay at DOT was immensely pleasant as he got a chance to be

FBR proposes new taxation measures

ISLAMABAD – Federal Board of Revenue (FBR) Inland Revenue Member Khawar Khurshid Butt, on Friday, said that FBR has proposed new taxation measures to meet the revised revenue collection target of Rs 1630 billion for 2010-2011. Addressing a media briefing at the Large Taxpayer Unit (LTU), FBR IR member expressed dissatisfaction over the existing automation processes, saying that matching of data was not being carried out effectively.
Responding to various queries on revenue

FBR, SECP to interface for broadening tax base

ISLAMABAD – Federal Board of Revenue (FBR) and Security Exchange Commission of Pakistan (SECP) have agreed to work closely to exchange data for broadening the tax base, a press release issued Tuesday has stated. The agreement to create an interface of data between the two organisations was achieved at a recent meeting attended by FBR Inland Revenue Service (IRS) Member Khawar Khursheed Butt and SECP Chairman Muhammad Ali Ghulam Muhammad.

FBR collects Rs 764.8b so far in FY11

LAHORE – Federal Board of Revenue (FBR) has collected Rs 764.8 billion out of revised tax collection target of Rs 1,604 billion during the first seven-month of the current fiscal year, registers an increase of 10 percent when compared with the previous year.
This was disclosed by the FBR Member Inland Revenue Khawar Khurshed Butt, who was addressing media personnel at Regional Tax Office Lahore. He said the country was passing through a fiscal emergency and the FBR had to work on

KP industry irked by FBR stonewalling

LAHORE – Industry in Khyber Pakhtunkhwa (KP) is facing enormous problems to the apparently apathetic attitude of the Federal Bureau of Revenue (FBR), with billions of rupees in sales tax refunds not granted are giving headaches to industrialists.
Industrialists told Pakistan Today that Prime Minister Yousaf Raza Gilani during his visit to Peshawar, besides indicating other incentives, exempted 50 percent of sales tax on supplies to compensate for losses suffered by commerce and

SBP, FBR officials spent Rs 24m on visits abroad, Senate told

ISLAMABAD – The Finance Ministry on Friday apprised the Senate of the fact that the officials at the State Bank of Pakistan and the Federal Board of Revenue cost Rs 24 million to the national exchequer on their visits abroad.
Ironically, these visits were meant to seek remedy against the financial crunch in which the Pakistani officials held talks with representatives of the International Monetary Fund (IMF) from October 2008 to November 2010. The Finance Ministry submitted

KCCI demands apology for FBR official’s misconduct

KARACHI – The Karachi Chamber of Commerce and Industry (KCCI) has approached the ministry of finance and chairman Federal Board of Revenue (FBR) against the perceived inappropriate behaviour of a FBR official towards the chamber.
Through a letter, KCCI/MSS (P)/1-8/57/2010-2011/3857-60 dated January 20, 2011, communicated to the ministry and the FBR chairman, KCCI has strongly protested the conduct of a FBR official in Karachi and his treatment of one of the KCCI’s managing

Rs 37b loss to national exchequer – 4 ex-generals, 3 FBR chiefs named in list of 58

ISLAMABAD – Federal Board of Revenue (FBR) Chairman Salman Siddique submitted in the SC on Thursday a list of 58 officials who from January 01,2007 to December 24,2010, caused a whopping loss of Rs 19 to Rs 37 billion to the national exchequer over the last four years because of pilferage of containers which entered Pakistani territory in the garb of Afghan Transit Trade (ATT).
The list sent to the registrar’s office through FBR’s counsel Raja Irshad includes the names of former

FBR, Customs put on notice in Rs 33b tax evasion case

ISLAMABAD – The Supreme Court on Wednesday served notices on officials of Federal Board of Revenue (FBR), Customs and Customs Intelligence allegedly involved in huge tax evasion by undertaking smuggling in the garb of Afghan Transit Trade through ISAF containers, causing Rs 33 billion loss to the national exchequer.
A three-member bench led by Chief Justice Iftikhar Muhammad Chaudhry was hearing a suo motu case pertaining to 10,000 containers of ISAF which went missing from

FBR completes investigations into 3,000 missing Nato tankers

PESHAWAR – Federal Board of Revenue (FBR) has completed the investigation into more than 3,000 Nato oil tankers, missing from Khyber Pakhtoonkhwa and tribal areas while it has been recommended in the investigation report to take strict action against the 300 personnel of FBR and Levies Force.
According to details, after starting investigation into the case of 300 missing Nato oil tankers, FBR recorded statements of the security guards deployed at Torkham border, Levies Force

FBR to solve taxpayers’ problems: commissioner

GUJRANWALA – Regional Tax Chief Commissioner Sajjad Ali has said that only flourishing trade and industry could strengthen the economy and Federal Board of Revenue (FBR) is ready to solve 100 percent problems of taxpayers.
He said this while addressing a meeting of Gujranwala Chamber of Commerce and Industry as the chief guest.
Sajjad assured the business community of taking no ex parte decision against anyone on a single show cause notice and added that minimum three

FBR asks SBP to share remittances data

ISLAMABAD – The Federal Board of Revenue (FBR), to make the tax system more transparent, has requested the State Bank of Pakistan (SBP) to share data of foreign exchange remittances. An official source told Pakistan Today on Sunday that Chairman FBR Salman Saddique held a meeting with Governor State Bank Shahid Hafeez Kardar.
The FBR is faced with the challenge of ending corruption and under-invoicing for the last several years whereby businessmen and officials embezzle billions

FBR achieves half of tax collection target

KARACHI – Federal Board of Revenue (FBR) Chairman Salman Siddiq has stated that the FBR has achieved 49 percent of its target tax collection in the last six months with a shortfall of Rs seven billion being met. However, the country remains mired in a financial crisis with political instability and a stagnant economy with a gloomy foreign and domestic investment outlook.
He went on to say that government borrowing from state bank should be limited and indicated that there was a

‘FBR looking for taxpayers’

ISLAMABAD – Identifying potential taxpayers by obtaining data from NADRA, Federal Board of Revenue is in the process of broadening its tax base, the government informed the Tax Reform Coordination Group.
The Minister for Finance Dr Abdul Hafeez Shaikh chaired the meeting of the TRCG on Tuesday. Three sub-groups of TRCG on customs, sales tax and federal excise and income tax presented their recommendations at the meeting. FBR officials briefed the meeting on the expeditious refund

Hina admits unabated corruption in FBR

ISLAMABAD – State Minister for Finance Hina Rabbani Khar on Thursday said there were still reports of corruption in the Federal Board of Revenue (FBR) despite the government’s efforts to eradicate it.
“The civil society is equally responsible for corruption in the FBR as such businessmen are not willing to pay taxes and they are paying bribes to the FBR people. However, there is improvement in the FBR but it could be improved further,” Hina said while responding to various

LCCI welcomes selection of new FBR chairman

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) while welcoming the appointment of Salman Siddique as Chairman Federal Board of Revenue (FBR) has urged him to convene a meeting of all the chambers and other trade bodies. It raised concern over the true implications of the proposed reformed General Sales Tax (GST).
In a statement issued here, the LCCI stated that Salman Siddique was a seasoned bureaucrat and enjoyed excellent relations with the business community. It

Rs 69b generated from sales tax, customs duty on POL products: FBR

ISLAMABAD: The government has generated Rs 69 billion from sales tax and customs duty on petroleum products in the first four months of the current financial year, the Federal Board of Revenue (FBR) told a special committee of the Public Accounts Committee on Tuesday.
The FBR told the PAC III, which was chaired by Riaz Pirzada, that the tax earnings increased by Rs 30 billion in the same period. “Rs 428 billion have been received under pure taxes in the same period,” the FBR