In an official statement, the Inland Revenue Service Officers Association of FBR asserted that the allegations raised by Faisal Vawda were baseless and challenged him to provide evidence to support his claim. “Baseless accusations could harm the tax collection process,” the FBR officers warned Senator Faisal Vawda. The statement further said that all government vehicle […]
Vawda made the shocking claims during a meeting of the Senate Standing Committee on Finance on Thursday. The politician said that FBR officials including Ali Salih, Shahid, and Dr. Sajjad Siddiqui issued death threats following the committee’s January 22 meeting. Faisal Vawda claimed that the FBR officials raided his company after he proposed providing 1,010 […]
The Federal Board of Revenue (FBR) is to face a revenue shortfall of over Rs 50 billion in the ongoing month of January 2025. As per details, the government is reportedly considering FED on the sugar to minimize the tax shortfall ahead of the IMF review for the second tranche of the ongoing loan program. […]
“There is a Rs 3,000 billion shortfall in sales tax revenues,” the federal minister said while floating his peculiar logic for the purchase of over one thousand expensive vehicles for the Federal Board of Revenue (FBR). “FBR officials will work in the field to take measures to reduce this deficit,” Tarar said. He said the […]
Speaking on the floor of the Senate, Faisal Vawda said FBR failed to achieve the Rs384 billion revenue target and yet is getting vehicles. “Shortfall in FBR’s targets might be the reason behind rewarding them with new vehicles.” Faisal Vawda further said if you insist on fulfilling your desires and providing vehicles, why not opt […]
According to sources, the FBR will likely collect only around Rs900 billion in taxes, falling short of its target of Rs956 billion. Sources within FBR revealed that the revenue shortfall from July to January may exceed Rs435 billion. So far, the FBR has collected around Rs700 billion in taxes and is expected to collect an […]
As per details, Sardar Enterprises was found guilty of tax evasion and smuggling at the Karachi Export Processing Zone. According to the Port Qasim Export Collectorate, the company was found guilty of evading taxes worth Rs 825 million. The company reportedly misused tax-exempted goods and illegally cleared used materials at local market rates. Investigations revealed […]
The ‘Rahguzar’ mobile app will enable consumers to identify legal fuel stations and outlets across Pakistan using Geographic Information System technology. Read more: OGRA refutes reports of deregulation of fuel prices The launch of the latest mobile application is a major step in the digitalization of Pakistan’s oil supply chain. The launch ceremony of the […]
As per details, the IMF has recommended introducing a mini-budget to bridge the gap. However, sources report that the Prime Minister has rejected this proposal, instructing the Federal Board of Revenue (FBR) to address the shortfall through alternative measures. The FBR has already shared a comprehensive alternative plan with the IMF, aiming to enhance revenue […]
The National Assembly’s Standing Committee will now review the bill clause by clause and make decisions accordingly. The committee has already approved the strictest amendments related to Sales Tax in the draft law. The main objective of the Tax Laws Amendments bill is to ensure income-based tax payments, according to the draft. The bill proposes […]