NEWS/UPDATES

After the Implementation of Benami Transactions (Prohibition) Rules, 2019, The Federal Board of Revenue (FBR) has clarified that a Benami property means any property which is subject matter of Benami transaction and also includes proceeds from such property.

Benami transaction encompasses where a property is transferred to, or is held…

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Pakistan Customs has surpassed its target by collecting Rs 444 billion in first eight months of the current financial year i.e., July-February 2018-19. Target for collection of customs duty for first eight months was Rs 436 billion, 21% higher than the target for the same period of the previous financial…

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The Operations arm of Pakistan Customs, has taken vigorous actions to counter illicit movement of currency, which is the primary tool used for money laundering and moving proceeds of crime in and out of the country. 

The current lead taken by Customs Operations FBR, and the effective control measures implemented…

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The Federal Board of Revenue has extended the date of filing of Income Tax Returns/Statements for the Tax Year 2018 till 31st March, 2019.

An order issued on Friday says that the date of filing of returns of total income/statement of final taxation which were due on 31st August 2018 and extended…

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FBR reiterates that the closing date for Assets Declaration Scheme is 30th June, 2019. It is highly advised to the persons intending to avail this scheme to ensure that the following reliable data relating to undeclared and undisclosed assets and expenditure is available with FBR:

a) Data of industrial and…

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