FBR – The Law Today Pakistan

Khudayar Mohla, Islamabad High Court, IHC stay, additional income tax, 15% income tax, banks' excessive lending, Finance Ministry, Federal Board of Revenue, FBR, tax collection, Civil Petition for Leave to Appeal, CPLA, Rs1.03 trillion, tax shortfall, advance-to-deposit ratio (ADR), tax advisory firm, financial impact, tax on government debt, Finance Minister Muhammad Aurangzeb, banks' tax liability, government debt, Rule 6C, Income Tax Ordinance, banking business, banking tax regulations, super tax, State Bank of Pakistan Act, 1956, tax law, Pakistan banking sector, tax dispute, tax estimation, tax collection deadline, December 31 deadline, tax rate for banks, gross ADR, loan taxation, court cases, money bill, constitutional violation, banks' legal challenges, tax policy, banking regulation, income tax dispute, Editor

Govt to Appeal SC to Lift IHC Stay on 15% Additional Income Tax from Bank

Estimated read time 5 min read
November 20, 2024

A week ago the IHC barred FBR from taking any coercive action against the commercial bank based on calculations made under Rule 6C (6A) of the seventh schedule of the ITO

Prime Minister Anwarul Haq Kakar, Special Investment Facilitation Council, SIFC, State Bank of Pakistan, SBP, Governor Jameel Ahmed, Federal Board of Revenue ,FBR, Editor

SIFC measures yielding positive results: PM

Estimated read time 2 min read
February 16, 2024

The caretaker government has taken steps to create a conducive business environment and provide facilities to the private sector to contribute to the country’s development and increase tax revenue, says Kakar

Peshawar High Court, PHC, Justice Abdul Shakoor, Justice Syed Arshad Ali, Federal Board of Revenue, FBR, Federal Legislative List, Section 7E of the Income Tax Ordinance, Ahmed Kundi, Barrister Umer Ijaz Gilani, Advocate Hamza Bangash, Editor

PHC declares Section 7E of the Income Tax Ordinance 2001 illegal

Estimated read time 4 min read
February 15, 2024

Former Member of the Provincial Assembly Ahmed Kundi , one of the petitioners has invoked jurisdiction of the PHC through counsels Barrister Umer Ijaz Gilani and Hamza Bangash. The petitioner, who is…

Resource Mobilisation adn Tax Reforms Commission 1994, Commission of Tax Reforms 1997, CTR, Federal Board of Revenue, FBR, National Tax Authority, Law Division, GDP

Game-Changer Alert: SIFC gives green light to epic transformation for FBR

Estimated read time 4 min read
January 6, 2024

Approves fixed income tax scheme for retailers, slated to launch in five major cities across country

Senior Puisne Judge of the IHC Justice Mohsin Akhtar Kayani, Accredited Mediation Course, Alternative Dispute Resolution, ADR, ADR-ODR International UK, Chief Executive ADR-ODR International Rahim Shamji, Resident Representative of ADR-ODR International Sarah Tarar, Caretaker Federal Law Minister Ahmed Irfan Aslam, Secretary Law Ministry Raja Naeem Akbar, PIMS, FBR, Lawyers, Judges from Islamabad Sessions Court

Law Ministry Collaborates with ADR-ODR International UK to Boost ADR in Islamabad and Nationwide

Estimated read time 4 min read
October 5, 2023

Caretaker Federal Law Minister Ahmed Irfan Aslam and Secretary of the Ministry Raja Naeem Akbar chaired opening session of the training – Senior Puisne Judge of the IHC Justice Mohsin Akhtar Kayani…

Govt sets 45 days limit for resolution of tax disputes

Estimated read time 2 min read
July 26, 2023

The government has decided to streamline dispute resolution process for taxpayers who got registration under Sales Tax Act and Federal Excise Act. The government has made it mandatory for the Federal Board…

LHC, President Arif Alvi, Justice Jawad Hassan, ECP, KP, Punjab

LHC urged to strike down amendment in ITO 2001

Estimated read time 4 min read
November 15, 2022

A plea moved the Lahore High Court (LHC) on Tuesday alleging that the federal government is eating up revenues which rightfully belong to local government. The petitioner, a former chairman Narowal District…

Pakistan Sugar Mills Association, PSMA,Lahore High Court, Sugar Advisory Board, SAB, 18th Amendment, ex-mills rate, market rate, federal government, provinces, Attorney General for Pakistan, Advocate General Punjab, restraining order

LHC bars LESCO to charge FPA from petitioners

Estimated read time 3 min read
August 25, 2022

Amongst 4.5 million power consumers of Lahore Electric Supply Company (LESCO), a few will have sigh of relief as Lahore High Court (LHC) Wednesday directed the distribution company to issue revised bills…