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In-Active: Those who are not registered with FBR or not filing their tax-returns. Active: Those who file their tax-returns on time. Usually before September 30. Active (Late Filer) [13]: If someone filed their last tax-returns after due date. Late Filer category was introduced by Finance Act 2024. [14]
The IMF has put forth several tax reform recommendations to the Pakistani government. These recommendations encompassed the removal of sales tax exemptions on fertilizers, pesticides, and tractors, the maintenance of general sales tax (GST) harmonization, and the initiation of reforms in Personal Income Tax (PIT).
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.
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
Anyone who collects VAT becomes a VAT Trustee if they: register and collect a Business Identification Number (BIN) from the NBR; submit VAT returns on time; offer VAT receipts; store all cash-memos; and use the VAT rebate system responsibly. VAT Mentors work in the VAT or Customs department and deal with trustees. The VAT rate is a flat 15%.
The Inland Revenue was merged with HM Customs and Excise to form HM Revenue and Customs which came into existence on 18 April 2005. [2] The current name was promoted by the use of the expression "from Revenue and Customs" in a series of annual radio, and to a lesser extent, television public information broadcasts in the 2000s and 2010s.
According to Section 9(1) of FOIRA of 2013, the agency is to submit written comments within 15 days, which is further extendable for seven days on a sufficient cause. According to Section 11(1) of the Ordinance and Section 9(5) of FOIRA of 2013, The FTO is to make a decision within a period of 60 days of the receipt of the complaint.
A Self Assessment (SA100) tax return. In the United Kingdom, a tax return is a document that must be filed with HM Revenue & Customs declaring liability for taxation. Different bodies must file different returns with respect to various forms of taxation. The main returns currently in use are: SA100 for individuals paying income tax; SA800 for ...