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Federal Board Of Revenue (Pakistan)
The Federal Board of Revenue (FBR) ( ur, ), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax evaders under surveillance, assess taxable incomes and perform special tasks for FBR Headquarters. FBR performs role of collection of taxation in the country from all individuals and businesses. FBR also collects intelligence on tax evasion and administers tax laws for the Government of Pakistan and acts as the central revenue collection agency of Pakistan. History Established as the ''Central Board of Revenue'' on 1 April 1924 through enactment of the "''Central Board of Revenue Act, 1924''". In 1944, the CBR was put under the ''Revenue Division'' with the Ministry of Finance until 1960, when on the recommendations of the "''Administrative Reorganization Committee"'', t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Board Of Revenue
The Federal Board of Revenue (FBR) ( ur, ), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax evaders under surveillance, assess taxable incomes and perform special tasks for FBR Headquarters. FBR performs role of collection of taxation in the country from all individuals and businesses. FBR also collects intelligence on tax evasion and administers tax laws for the Government of Pakistan and acts as the central revenue collection agency of Pakistan. History Established as the ''Central Board of Revenue'' on 1 April 1924 through enactment of the "''Central Board of Revenue Act, 1924''". In 1944, the CBR was put under the ''Revenue Division'' with the Ministry of Finance until 1960, when on the recommendations of the "''Administrative Reorganization Committee"'', t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan
Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 243 million people, and has the world's Islam by country#Countries, second-largest Muslim population just behind Indonesia. Pakistan is the List of countries and dependencies by area, 33rd-largest country in the world by area and 2nd largest in South Asia, spanning . It has a coastline along the Arabian Sea and Gulf of Oman in the south, and is bordered by India to India–Pakistan border, the east, Afghanistan to Durand Line, the west, Iran to Iran–Pakistan border, the southwest, and China to China–Pakistan border, the northeast. It is separated narrowly from Tajikistan by Afghanistan's Wakhan Corridor in the north, and also shares a maritime border with Oman. Islamabad is the nation's capital, while Karachi is its largest city and fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamabad, Pakistan
Islamabad (; ur, , ) is the capital city of Pakistan. It is the country's ninth-most populous city, with a population of over 1.2 million people, and is federally administered by the Pakistani government as part of the Islamabad Capital Territory. Built as a planned city in the 1960s, it replaced Rawalpindi as Pakistan's national capital. The city is notable for its high standards of living, safety, cleanliness, and abundant greenery. Greek architect Constantinos Apostolou Doxiadis developed Islamabad's master plan, in which he divided it into eight zones; administrative, diplomatic enclave, residential areas, educational and industrial sectors, commercial areas, as well as rural and green areas administered by the Islamabad Metropolitan Corporation with support from the Capital Development Authority. Islamabad is known for the presence of several parks and forests, including the Margalla Hills National Park and the Shakarparian. It is home to several landmarks, includi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group, presides over meetings of the group, and conducts the group's business in an orderly fashion. In some organizations, the chairperson is also known as ''president'' (or other title). In others, where a board appoints a president (or other title), the two terms are used for distinct positions. Also, the chairman term may be used in a neutral manner not directly implying the gender of the holder. Terminology Terms for the office and its holder include ''chair'', ''chairperson'', ''chairman'', ''chairwoman'', ''convenor'', ''facilitator'', '' moderator'', ''president'', and ''presiding officer''. The chairperson of a parliamentary chamber is often called the ''speaker''. ''Chair'' has been used to refer to a seat or office of authority s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Pakistan
Pakistan's current Taxation system is defined by Income Tax Ordinance 2001 (for direct taxes) and Sales Tax Act 1990 (for indirect taxes) and administrated by Federal Board of Revenue (FBR). History The Income Tax Act of 1922 The Income Tax Act of 1922 was prevalent during the British Raj and was inherited by both the governments of India and Pakistan upon independence and partition in 1947. This act initially formed the basis of both countries' Income Tax codes. The Income Tax Ordinance (1979) The Income Tax Ordinance was the first law on Income Tax which was promulgated in Pakistan from 28 June 1979 by the Government of Pakistan. The Income Tax Ordinance, 2001 To update the tax laws and bring the country's tax laws into line with international standards, the Income Tax Ordinance 2001 was promulgated on 13 September 2001. It became effective from 1 July 2002. IT rules 2002 IT (Income Tax) rules 2002 were promulgated by the Federal Board of Revenue (FBR) on 1 July 2002 in exerci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Evasion
Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income, profits or gains than the amounts actually earned, overstating deductions, using bribes against authorities in countries with high corruption rates and hiding money in secret locations. Tax evasion is an activity commonly associated with the informal economy. One measure of the extent of tax evasion (the "tax gap") is the amount of unreported income, which is the difference between the amount of income that should be reported to the tax authorities and the actual amount reported. In contrast, tax avoidance is the legal use of tax laws to reduce one's tax burden. Both tax evasion and tax avoidance can be viewed as forms of tax noncompliance, as they desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Law
Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a legal context. The rates and merits of the various taxes, imposed by the authorities, are attained via the political process inherent in these bodies of power, and not directly attributable to the actual domain of tax law itself. Tax law is part of public law. It covers the application of existing tax laws on individuals, entities and corporations, in areas where tax revenue is derived or levied, e.g. income tax, estate tax, business tax, employment/payroll tax, property tax, gift tax and exports/imports tax. There have been some arguments that consumer law is a better way to engage in large-scale redistribution than tax law because it does not necessitate legislation and can be more efficient, given the complexities of tax law. Major i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Pakistan
The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the four provinces, two autonomous territories, and one federal territory of a parliamentary democratic republic, constitutionally called the Islamic Republic of Pakistan. Effecting the Westminster system for governing the state, the government is mainly composed of the executive, legislative, and judicial branches, in which all powers are vested by the Constitution in the Parliament, the Prime Minister and the Supreme Court. The powers and duties of these branches are further defined by acts and amendments of the Parliament, including the creation of executive institutions, departments and courts inferior to the Supreme Court. By constitutional powers, the President promulgates ordinances and passes bills. The President acts as the ceremonial figurehead while the people-el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Pakistan)
The Ministry of Finance and Revenue ( ur, ) or Ministry of Finance ( ur, , ''Wazarat-e-khazana'', abbreviated as MoF) is a ministry of the Government of Pakistan tasked to ensure a strong Pakistani economy by developing policies of sound economic management and providing expert advice to the government. Minister The Minister of Finance is leading cabinet member who responsible each year for presenting the federal government's budget. It is one of the most important positions in the Cabinet. Because of the prominence and responsibility of this position, it is not uncommon for former Ministers of Finance to be appointed Prime Minister. The current Minister of Finance of Pakistan is Miftah Ismail, he was appointed to this position by the Prime minister of Pakistan on 19 April 2022. The previous Minister of Finance was Shaukat Tarin. Divisions Finance The ''Finance Division'' comes under the supervision of the Secretary of Finance. The division's bureaucracy is divided into se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victor Turner (civil Servant)
Sir Victor Alfred Charles Turner, CSI, CIE, MBE, SI (12 March 1892 – 16 October 1974Obituary, ''The Times'', issue 59220, 17 October 1974 p. 18.) was an English-Pakistani civil service officer, statistician and economist, and one of the founding fathers of the Civil Service of Pakistan, serving as the first Finance Secretary of Pakistan in the government of Prime Minister Liaquat Ali Khan, as well as Chairman of the Central Board of Revenue from 14 August 1947 until 1 February 1950. Alfred Charles Turner – in 1947, when he was knighted, he added the name 'Victor' – was born at 36, Campden Street, Kensington, England on 12 March 1892 to Walter Charles Turner, a butler, and his wife Annie formerly Searle.General Register Office certificate of birth. His older brothers were Walter Edward Neal Turner, born 1886, and Robert Henry Turner, born 1889. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariq Bajwa
Tariq Bajwa is a retired Pakistani civil servant who served in BPS-22 grade as the Finance Secretary and Economic Affairs Secretary of Pakistan. Bajwa also served as the 19th Governor of the State Bank of Pakistan and the 20th Chairman of the Federal Board of Revenue. He is the only Pakistani who won the Littauer fellowship at Harvard University. He also received a master's degree in Public Administration from the same institution. Bajwa is batchmates with Shehzad Arbab, Sajjad Saleem Hotiana and Babar Yaqoob Fateh Muhammad. Career Bajwa served as the Governor of the State Bank from 7 July 2017 up till he was asked to resign from the post on 3 May 2019. Prior to this, he served as a civil servant belonging to the Pakistan Administrative Service. He served as the Economic Affairs Secretary of Pakistan from November 2015 to February 2017, and as Finance Secretary of Pakistan from February 2017 to July 2017. He also remained the chairman of Federal Board of Revenue from Ju ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shabbar Zaidi
Syed Mohammad Shabbar Zaidi is a Pakistani chartered accountant who served as the 26th Chairman of Federal Board of Revenue from May 2019 till April 2020. Previously, he served as a provincial Minister in the Government of Sindh during the 2013 caretaker setup. He was the territory partner of PwC Pakistan. He is a fellow member of Institute of Chartered Accountants of Pakistan and also served as president of the Institute for 2005–2006. He had been working with A. F. Ferguson & Co., a member firm of PwC since 1969 and currently working as Senior Partner there. Among his non-profit work, he is a trustee of Sindh Institute of Urology & Transplantation (SIUT) and member of Boards of Governors of Liaquat National Hospital and Karachi School of Business and Leadership (KSBL). In the past, he has also been the President of the Institute of Chartered Accountants of Pakistan and Chairman of the South Asian Federation of Accountants The South Asian Federation of Accountants (SAF ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
