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21/08/2024

21/08/2024

08/07/2024

Pakistan’s Federal Board of Revenue (FBR) has made a significant breakthrough in its efforts to combat tax evasion. In a briefing presented to Prime Minister Shehbaz Sharif, the FBR identified a staggering 4.5 million individuals with taxable income who are currently not registered within the national tax system.

The Prime Minister chaired a meeting specifically focused on reviewing the FBR’s reform process. He issued clear directives to the authorities concerned. These directives included incorporating the identified non-filers into the tax net, eliminating discretionary powers held by customs appraisers, and obtaining a comprehensive implementation report from the FBR chairman within 24 hours.

The meeting also revealed positive results from recent initiatives. Over 300,000 new individuals have filed tax returns in just a few weeks, demonstrating the effectiveness of the government’s measures. Additionally, efforts to identify fraudulent practices have led to the suspension of tax refunds for over 4,000 companies suspected of under-invoicing and submitting forged sales tax refund claims.

Prime Minister Sharif vowed to take a firm stance against tax evasion. He declared that both evaders and any officials who facilitate them will face punishment. Conversely, he expressed appreciation for taxpayers who fulfill their obligations on time.

Highlighting the importance of transparency and preventing corruption, the Prime Minister announced plans to install state-of-the-art scanners at Pakistani seaports. He also requested a detailed report outlining the extent of tax evasion and proposed measures to curb it effectively.

Looking towards the future, Prime Minister Sharif emphasized the goal of establishing a world-class taxation system in Pakistan. He called for the involvement of reputable professionals and experts in formulating effective tax policies. The meeting concluded with the Prime Minister requesting a comprehensive strategy outlining the FBR’s digitization and reform plans, along with specific targets to be achieved in the next meeting.

08/07/2024

The newly inserted section 11D addresses situations where taxpayers fail to comply with certain requirements. Specifically, it allows officers of Inland Revenue, not below the rank of Assistant Commissioner, to make an assessment of tax payable or refund due based on available information and their best judgement.

Key Provisions of Section 11D:

1. Non-Submission of Sales Tax Return:
If a person fails to submit a sales tax return in response to a notice under sub-section (2A) of section 26, the officer of Inland Revenue may proceed with a best judgement assessment.

2. Failure to Produce Required Documents:
When a person fails to present necessary accounts, documents, and records as required under sections 25 or 38A, the officer of Inland Revenue is authorized to assess the tax based on available information and best judgement.

3. Notice to Show Cause:

o Before making a best judgement assessment, the taxpayer will be issued a notice to show cause. This allows the taxpayer an opportunity to provide the necessary documents or explanations.

4. Disallowance of Input Tax:
The officer of Inland Revenue may disallow or reduce a registered person’s input tax on goods if they fail to provide invoices or other records supporting their claim.

5. Abatement of Assessment:
If the taxpayer submits the return within sixty days of the issuance of the assessment order, along with the tax payable, default surcharge, and penalty, the notice to show cause and the assessment order shall be nullified.

6. Determination of Minimum Tax Liability:
In cases where the Federal Board of Revenue (FBR) has set conditions for determining minimum tax liability for non-filers, the officer of Inland Revenue shall determine the tax liability according to those conditions.

The introduction of section 11D underscores the government’s commitment to strengthening the tax infrastructure and ensuring that all taxpayers adhere to their obligations under the Sales Tax Act, 1990.

09/04/2024

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