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1. Revenue collection up 27pc in Feb
(Highlights/Business News)
... month was mainly driven by increase of 40.69pc in the income tax collection, followed by customs duty 30.72pc, sales tax 18.20pc, and federal excise duty 13.94pc. In the first eight months (July-Feb) ...
Saturday, 28 February 2015
2. Govt earned Rs595bn from oil, gas in FY13
(Highlights/Business News)
... es like OGDCL, PSO, PPL, SSGC and SNGPL. The total earnings were, therefore, worked out at about Rs620bn. This did not include excise duty and different provincial taxes on oil and gas sector and cust ...
Saturday, 31 August 2013
3. Reversal of adverse budgetary steps sought
(Highlights/Business News)
Friday, 02 August 2013
4. FPCCI demands resolution of budget problems
(Highlights/Business News)
Thursday, 01 August 2013
Some Collectors of Customs on Tuesday rectified an error by collecting 16 percent standard rate of Federal Excise Duty (FED) on the import of edible oil instead of 17 percent. It is learnt that the customs ...
Wednesday, 24 July 2013
6. KSE criticises income support levy
(Highlights/Business News)
Wednesday, 26 June 2013
Step to help ease difficulties in tax recovery RAWALPINDI: The Department of Excise and Taxation Rawalpindi has decided to computerise all property tax record and conduct land surveys ...
Tuesday, 25 June 2013
... eir information regarding sales/supplies to tax registered and unregistered persons.The databank would also have linkages with provincialexcise departments, property/land reve ...
Saturday, 15 June 2013
LAHORE The traders, while opposing the harsh measures of sealing business houses, have urged the provincial Excise and Taxation Department to give them time till June 30 to clear the outstanding amount ...
Saturday, 08 June 2013
...  for the premium tier Rs 880 per thousand sticks for the value brand trier instead of current Rs 762 per thousand stick. Tax experts believe that Federal excise duty (FED) on pricing of cigarettes rathe ...
Wednesday, 05 June 2013
...  for the premium tier Rs 880 per thousand sticks for the value brand trier instead of current Rs 762 per thousand stick. Tax experts believe that Federal excise duty (FED) on pricing of cigarettes rathe ...
Wednesday, 05 June 2013
... Rs70 billion; withholding taxes Rs33 billion; through audit/scrutiny Rs50 billion; sales tax Rs60 billion; customs/imports Rs50 billion and federal excise duty Rs23 billion. The remaining amount is esti ...
Tuesday, 04 June 2013
Saturday, 25 May 2013
14. GST hike imminent?
(Highlights/Business News)
... R has revised federal excise duty structure on cigarettes. The rate of the FED would be Rs2,325 per thousand cigarettes if their price exceeds Rs2,286. The rate of the FED would be Rs880 per thous ...
Thursday, 23 May 2013
... h a minor level since being banned CNG for more than 1000 CC vehicles government could not save gas enough to even generate 10 MW electricity. An Excise and Taxation officer said that in Lahore the ...
Thursday, 23 May 2013
16. FBR striving hard to achieve Rs2,050b target
(Highlights/Business News)
... of CFY as against the target of Rs. 111.1 billion. The collection under the head of Federal Excise Duty (FED) has been Rs 51.9 billion during the first six months of FY 2012-13 against the target of Rs.49.7 ...
Thursday, 16 May 2013
... e of sales tax from 16 to 17 percent, imposition of the federal excise duty (FED) on commodities on which exemption was granted in budget (2012-13) and imposition of sales tax on items subjected to sal ...
Wednesday, 08 May 2013
18. Salary tax slabs need correction in budget: ACCA
(Economic Updates/Pak Major Financial News)
... of the corporate tax rate to 34 percent and that of listed companies to 33 percent. ACCA has further proposed that the FBR has not withdrawn the rights for recovery of federal excise duty (FED) as yet. ...
Saturday, 04 May 2013
... and imposition of further tax on supplies to un-registered persons. To enhance area of Federal Excise Duty following measures will be taken: (i) Meeting with stakeholders for reducing the existing 4 slabs ...
Saturday, 20 April 2013
... d task force will come up with measures related to IR including direct taxes, sales tax and federal excise duty. It will be headed by Deputy Chairman FBR Malick Abdul Samad and will comprise Member  ...
Wednesday, 17 April 2013
21. Revenue shortfall may go up further
(Highlights/Business News)
... use it covers sales tax, income tax and federal excise duty (FED). It has been estimated that around Rs1,000bn to Rs1,200bn sales tax, Rs400bn to Rs500bn income tax and Rs300bn excise duty will be colle ...
Friday, 12 April 2013
...  sales tax and one regarding federal excise. The sources said that remaining shortfall would be bridged through already launched amnesty schemes in customs, the legalising of smuggled vehicles, and anothe ...
Tuesday, 09 April 2013
... activity, and to provide a level playing field to all the stakeholders, recommended various amendments to the Income Tax Ordinance, 2001 and Federal Excise Act 2005, most at which were notified through ...
Wednesday, 27 March 2013
RAWALPINDI - Rawalpindi Excise and Taxation (E&T) Department officials fined around 260 vehicles during the last 24 hours during the ongoing operation against tax defaulting and unregistered vehicles.  ...
Monday, 18 March 2013
... is not giving any benefit to people who are paying taxes," he added. "The Tax Laws (Amendment) Bill, 2012" seeks to amend the Income Tax Ordinance, 2001, Sales Tax Act, 1999 and Federal Excise Act, 2005 ...
Friday, 08 March 2013
... arising out of audit selection made under Section 214C of the Income Tax Ordinance, 2001, Section 72B of the Sales Tax Act 1990 and Section 42B of the Federal Excise Act 2005. The revenue body established ...
Wednesday, 27 February 2013
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday selected parameter-based 12,609 cases for audit of the income, sales taxes and the federal excise duty. The selection of 12,609 cases of 1.677 ...
Tuesday, 26 February 2013
28. Punctured tax base
(Economic Updates/Exclusive Articles)
... Tax Numbers (NTNs) were issued which constituted only 0.92 percent of population. He further revealed that "82 percent of all sales tax and federal excise duty is paid by the top 100 companies". He made ...
Friday, 22 February 2013
The Federal Board of Revenue on Friday issued separate parameters for income tax, sales tax and federal excise duty (FED) for selection of corporate and non-corporate cases for audit. In this regard, the ...
Saturday, 16 February 2013
...  "(d) companies as defined in the Income Tax Ordinance, 2001(XLIX of 2001), which is registered for sales tax, federal excise duty on income tax:" and (b) in clause (e), for the full stop, at the end ...
Friday, 15 February 2013

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