FBR Chairman strongly denies Association with any Facebook Account in his name

Aug. 21, 2014

Mr. Tariq Bajwa, Secretary Revenue Division / Chairman Federal Board of Revenue has strongly denied having any association with a facebook account in his name, under the link www.facebook.com/tariq.bajwa.9469.

He has vehemently stated that this is a fake account, he is not associated with it in any way and all correspondence made on his behalf is false. The facebook administration has been contacted to block/remove the said fake account.

Shahid Hussain Asad

Member (Policy-IR)

FBR Chairman strongly denies Association with any Facebook Account in his name

FBR ISSUES MORE THAN 120,000 INITIAL NOTICES UNDER SECTION 144 OF INCOME TAX ORDINANCE, 2001

July 25, 2014

More than 120,000 initial notices (u/s 114 of the Income Tax Ordinance 2001) have been issued – based on large potential fiscal liabilities and location to ensure the initiative is nationwide- and more than 38,000 second notices (under section 122C) which are to be followed by provisional assessment, collection procedures, and penal and prosecution proceedings.  So far, more than 17,000 individuals have filed returns as a result of the initiative. Provisional tax assessment (under section 122 of the law) has been made in more than 28,000 cases                                                         Broadening of Tax Base Status as on 30.06.2014 Description Status First Notices issued(Notice under section 114 of the Income Tax Ordinance, 2001) 120,350 Returns Received 17,314 2nd Notices  Issued(Notice under section 122C of the Income Tax Ordinance,  2001) 38,413 Provisional Assessment Orders Passed 28,690 Demand Created Rs. 11 (bn) Tax Collected (with return and out of demand) Rs. 306 (Mn) The new policy measures taken through Finance Act 2014 to broaden the tax base include a new regime wherein different rates of withholding of Income tax for income tax return filers and non-filers on certain transactions have been introduced. This includes sale and purchase of immovable property, purchase, registration and transfer of ownership of motor vehicles, cash withdrawal from banks, and payment of profit on debt and dividend income. The higher rates of tax for non-filers will not only provide an incentive to non-filers to file returns and declare their income from all sources, but also provide a database to FBR for identification of potential taxpayers to be pursued of broadening of tax base initiative. Mujeeb-ur-Rehman Talpur Second Secretary (Public Relations) FATE Wing, Federal Board of Revenue,

FBR ISSUES MORE THAN 120,000 INITIAL NOTICES UNDER SECTION 144 OF INCOME TAX ORDINANCE, 2001

Daylong seminar held to explain budgetary changes to tax officials

July 23, 2014

A one-day seminar on “Budgetary changes brought in through Finance Act 2014” was held at Federal Board of Revenue (FBR) Headquarters here in the capital.

Member Facilitation and Taxpayers Education (FATE) FBR, Ms Riffat Shaheen Qazi chaired the seminar. Officers from Regional Tax Office (RTO) Islamabad, RTO Rawalpindi, LTU Islamabad, RTO Peshawar and RTO Abbottabad attended the seminar. Chief Sales Tax and Automation Ashfaq Ahmed Tunio and Chief Income Tax Policy Malik Amjad Zubair Tiwana briefed the participants on the changes brought in through the said Act.

In his address, Chief Sales Tax and Automation Ashfaq Ahmed Tunio explained different aspects of Sale Tax and Federal Excise measures in steel sector, steel units in sugar mills, cigarettes, aerated waters, cement, travel by air, chartered flights and retailers.

Chief Income Tax Policy Malik Amjad Zubair Tiwana explained different features of amendments relating to Income Tax law through Finance Act 2014. He explained major amendments in withholding taxes, other revenue measures and relief measures taken by the government. He also made clear different aspects of withholding taxes, new withholding taxes, enhancing rates of existing withholding taxes, creating distinction between filer and non-filer, enhancing withholding tax rates, increasing cost of doing business for non-filers, increasing cost of doing business for non-filers, revision in token tax, advance tax on registration and transfer, reduction in withholding tax rates, expense allocation in banking companies and reduction in tax rates.

Speaking on the occasion, Acting Chairman FBR Shahid Hussain Asad underscored the role of FBR officials and staff in resource mobilization and revenue generation extremely vital for the economic independence and socio-economic development of the country. He lauded the FATE Wing for organizing the seminar to educate the FBR officers and explain to them the legal provisions introduced in the Finance Act 2014.

Earlier, Ms Riffat Shaheen Qazi, Member FATE Wing welcomed the participants of the seminar and urged the officers to utilise their energies with dedication and commitment to achieve the revenue collection target set for the next fiscal year.

The briefing was followed by a questions-answers session. The participants raised different technical questions and they were answered accordingly.

Hamid Raza Wattoo

Secretary (PR)

Daylong seminar held to explain budgetary changes to tax officials

NO NEW DISCRETIONARY POWERS GIVEN TO COMMISSIONERS THROUGH SRO 608(I)/2014 - FBR CLARIFIES

July 04, 2014

The news item captioned “FBR opens doors to corruption” published in a section of the press today on 04th of July, 2014 is not factually correct. Referring to SRO 608(I)/2014 dated 26.06.2014, it has been wrongly stated that Commissioners of Inland Revenue have been given extra discretionary powers.

The actual facts are that in accordance with the government’s policy to phase out the SRO regime, many concessions in existing SROs were either withdrawn or reduced in the Budget 2014-15. However, a limited number of concessions were continued due to their essential or socially sensitive nature, by way of transposition into the Fifth or Sixth Schedules to the Sales Tax Act, 1990. Since SRO 670(I)/2013 dated 18.07.2013 granted conditional zero-rating on sensitive items like milk, milk products, stationery items and bicycles, the government decided to continue the concession. This was done by transposing the Table of the SRO into the Fifth Schedule to the Sales Tax Act, 1990, while the conditions for availing zero-rating were incorporated into the Sales Tax Special Procedure Rules, 2007 through SRO 608(I)/2014.

It is therefore, clarified that no new discretionary powers have been granted to the Commissioners through SRO 608(I)/2014, but only the procedure and conditions already existing in SRO 670(I)/2013 were transposed into the Sales Tax Special Procedure Rules, 2007 through SRO 608(I)/2014.

Shahid Hussain Asad

Member (Policy-IR) / Official Spokesperson, FBR

 

NO NEW DISCRETIONARY POWERS GIVEN TO COMMISSIONERS THROUGH SRO 608(I)/2014 - FBR CLARIFIES

Collection of duties, taxes on 28th, 29th and 30th June, 2014

June 26, 2014

In order to facilitate the taxpayers in depositing their duties and taxes during the last few days of the current financial year, the State Bank of Pakistan, on request of FBR has decided to keep authorized branches of State Bank of Pakistan, National Bank of Pakistan, Commercial Banks and National Institute of Facilitation Technologies (NIFT) open for extended hours.

According to details, State Bank of Pakistan branches would remain open on 30th of June 2014 till 10:00pm. National Bank of Pakistan branches would remain open till 8:00pm on 28th and 29th June for collection of FBR taxes/duties and till 10:00 for cheque collection and 12:00 midnight for cash counters on 30th June 2014 (Monday) for government receipts and payments. Similarly, designated branches of Commercial Banks would remain open on 28th June 2014 (normal working hours) and 30th June 2014 until 10:00pm. NIFT will also remain available to collect and sort the clearing instruments deposited on 28th & 29th June 2014 from NBP. Two special clearings on Monday 30th June 2014 at 3:00pm and 10:00pm respectively have also been arranged besides normal clearings.

Besides the opening for extended hours of banks, arrangements have also been made to facilitate taxpayers in payment of Taxes / Duties and fulfill their national obligation. In this regard FBR has directed all its field formations to remain open on 28th and 29th June 2014 until 8:00pm and on 30th June 2014 until 12:00 midnight.

Shahid Hussain Asad

Official Spokesperson, FBR

Collection of duties, taxes on 28th, 29th and 30th June, 2014