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The Federal Board of Revenue (FBR) (Urdu: وفاقی بورڈ محصولات), 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.
The main responsibility of NBR is to mobilize domestic resources through the collection of import duties and taxes, VAT and income tax for the government. Side by side with collection of taxes, facilitation of international trade through quick clearance of import and export cargoes has also emerged as a key role of NBR.
Taxation in Pakistan is a complex system of more than 70 unique taxes administered by at least 37 agencies of the Government of Pakistan. [1] According to the FBR, in 2021, the number of registered tax filers had grown to 7.1 million out of which only 2.5 million were active tax filers. [ 2 ]
The National Board of Revenue provided carnet de passage for tourists despite Bangladesh not being a signatory to the relevant United Nations treaties. [7] In February 2018, Bangladesh High Court ordered the National Board of Revenue to unfreeze the accounts of Robi. [8] The National Board of Revenue raised 124.4 billion BDT from taxes on fuel. [9]
The Directorate sued Grameen Bank for VAT evasion of 670 million BDT. [15] It secured 5.2 million BDT from Alesha Mart after completing an audit of the company. [16] In November 2021, VAT Audit, Intelligence and Investigation Directorate fined Danish Foods Limited, a subsidiary of Partex Group for evading 34.6 million BDT in VAT. [17]
After the independence of Pakistan, the RJSC was established for the first time in 1962 in the port city of Chittagong under the Ministry of Commerce. [2] Then it started its activities with some documents from companies, professional organizations and partnership business from Calcutta, India. Its office was transferred to Dhaka. Currently ...
Bangladesh Bank is the central bank of Bangladesh and the chief regulatory authority in the banking sector. According to the Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized the Dhaka Branch of the State Bank of Pakistan as the central bank of the country and named it Bangladesh Bank with retrospective effect from 16 ...
The bank also faced manpower shortages in 2020 harming daily operations of the bank. [8] Expatriates' Welfare Minister Imran Ahmad is March 2021 announced plans to establish branches of the bank in every Upazlia in Bangladesh. [9] In August 2021, Probashi Kallyan Bank signed an agreement with NCC Bank to cooperate in remittance disbursement. [10]