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September 20, 2018 12:00 AM Jang Economic Session: Good governance linked to effective accountability, political stability

LAHORE: Good governance and improvement in other sectors could not be achieved without effective coordination between the institutions and people. Revolution is required for socio economic growth. These views were expressed by the experts at Jang Economic Session on ‘how to ensure good governance for economic growth’. The panellists were Ansar Javeed 7

September 18, 2018 12:00 AM OICCI proposes steps to increase tax revenue

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has proposed certain measures to broaden the tax base and increase revenue collection. In a letter dated September 10, 2018 to Federal Board of Revenue (FBR) Chairman Jahanzaib Khan, the OICCI suggested that the board reviews 2016 Tax Reforms Commission (TRC) recommendations and implement 3

September 16, 2018 12:00 AM Revenue authority waives time limit for re-audit

KARACHI: Tax authorities are empowered to re-audit individual or company even if the taxpayer has faced inquiry into the financials during the past three years, sources said on Saturday. The sources, clarifying a latest tax law, said commissioners Inland Revenue (IR) have power to select an individual or a company for audit anytime even if examination 4

September 12, 2018 12:00 AM IR commissioner assigned AEOI duty

KARACHI: The Federal Board of Revenue (FBR) has assigned a commissioner of Inland Revenue to continue the ongoing campaign against black money held abroad by Pakistanis and utilise the information received under Automatic Exchange of Information (AEOI). The FBR on Tuesday assigned Asma Aftab, a BS-20 officer of Inland Revenue Service, additional charge 1

September 7, 2018 12:00 AM PM chairs briefing on CPEC

ISLAMABAD: Prime Minister Imran Khan Thursday chaired a briefing on China-Pakistan Economic Corridor (CPEC) at the Prime Minister’s Office. Minister for Finance Asad Umar, Minister for Planning Makhdoom Khusro Bakhtiyar, Secretary Planning Zafar Hasan, Secretary Power Irfan Ali, Chairman National Highway Authority (NHA) Jawwad Rafique Malik and senior

September 5, 2018 2:08 AM Offline app to help prepare tax returns

ISLAMABAD: The Federal Board of Revenue (FBR) has launched an application enabling taxpayers to prepare income tax return and wealth statement without using the internet to resolve the connectivity issues they are often confronted with. An official statement issued that the application will help taxpayers to fill out returns in offline mode. The new government

September 5, 2018 12:00 AM Returns filing application launched

ISLAMABAD: The Federal Board of Revenue (FBR) launched a web-based application to enable taxpayers to prepare income tax returns and wealth statements in offline mode and submit them online. The information technology wing of the FBR launched the Iris-ADX (asynchronous data exchange) to facilitate the taxpayers. The application will help taxpayers using

September 2, 2018 12:00 AM Foreign assets: Panel to first probe Dubai properties

ISLAMABAD: The committee tasked with investigating Pakistanis’ foreign assets has decided to initiate the probe from the properties made in Dubai. The committee, headed by Governor State Bank, submitted the Terms of Reference (ToRs) of inquiry to the Supreme Court on Saturday. The apex court is hearing multiple cases of money laundering and foreign assets 1

September 1, 2018 12:00 AM FBR extends date of filing income tax returns up to Sept 30

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the last date for filing annual income tax returns/statements for the tax year 2018 by salaried persons up to September 30. The FBR issued Circular No 2, 2018 on Friday and said that the date of filing of income tax returns required to be filed through e-portal in the cases of salaried individuals

August 31, 2018 12:00 AM Tax bar association proposes policy board on revenue

KARACHI: The apex tax bar of the country has recommended the new government to establish policy board on tax revenue to make Federal Board of Revenue (FBR) an efficient and transparent organisation. In a letter sent to Finance Minister Asad Umar on Thursday, Abdul Qadir Memon, president of the Pakistan Tax Bar Association (PTBA), urged the minister to set up “Policy