|
Federal Board Of Revenue (Pakistan)
The Federal Board of Revenue (FBR) (), 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"'', the CB ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan
Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the List of countries and dependencies by population, fifth-most populous country, with a population of over 241.5 million, having the Islam by country#Countries, second-largest Muslim population as of 2023. Islamabad is the nation's capital, while Karachi is List of cities in Pakistan by population, its largest city and financial centre. Pakistan is the List of countries and dependencies by area, 33rd-largest country by area. Bounded by the Arabian Sea on the south, the Gulf of Oman on the southwest, and the Sir Creek on the southeast, it shares land borders with India to the east; Afghanistan to the west; Iran to the southwest; and China to the northeast. It shares a maritime border with Oman in the Gulf of Oman, and is separated from Tajikistan in the northwest by Afghanistan's narrow Wakhan Corridor. Pakistan is the site of History of Pakistan, several ancient cultures, including the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamabad, Pakistan
Islamabad (; , ; ) is the capital city of Pakistan. It is the country's tenth-most populous city with a population of over 1.1 million and is federally administered by the Pakistani government as part of the Islamabad Capital Territory. Built as a planned city in the 1960s and established in 1967, it replaced Karachi as Pakistan's national capital. The Greek architect Constantinos Apostolou Doxiadis developed Islamabad's master plan, in which he divided it into eight zones; the city comprises 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 its parks and forests, including the Margalla Hills National Park and the Shakarparian. It is home to several landmarks, including the country's flagship Faisal Mosque, which is the world's sixth-largest mosque ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chairman
The chair, also chairman, chairwoman, or chairperson, 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 or organisation, presides over meetings of the group, and is required to conduct the group's business in an orderly fashion. In some organizations, the chair 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. The term chairman may be used in a neutral manner, not directly implying the gender of the holder. In meetings or conferences, to "chair" something (chairing) means to lead the event. Terminology Terms for the office and its holder include ''chair'', ''chairman'', ''chairwoman'', ''chairperson'', ''convenor'', ''facilitator'', '' moderator'', ''president'', and ''presiding officer''. The chair of a parliamentary chamb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Pakistan
Taxation in Pakistan is a cornerstone of the country’s economic framework, managed by the Federal Board of Revenue (FBR). The FBR operates under the Ministry of Finance and is tasked with formulating tax policies, collecting federal taxes, and ensuring compliance with tax laws. It oversees various tax departments, including those dealing with customs, income tax, and sales tax. The FBR also plays a crucial role in drafting tax-related legislation and implementing measures to combat tax evasion. The taxation system in Pakistan encompasses both direct and indirect taxes, which contribute significantly to the nation’s revenue. Taxation in Pakistan is a complex system of more than 70 unique taxes administered by at least 37 agencies of the Government of Pakistan. History Taxation in Pakistan has evolved since the country’s independence in 1947, largely based on the United Kingdom, British colonial tax system. Initially, Pakistan inherited the tax structures and administrative ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Evasion
Tax evasion or tax fraud 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, bribing authorities 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 the tax authority requests be reported 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 describe a range of activities that intend to ... [...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, 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 l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Pakistan
The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, consisting of four provinces and one federal territory. The territories of Gilgit-Baltistan and Azad Kashmir are also part of the country but have separate systems and are not part of the federation. Under the Constitution, there are three primary branches of a government: ''the legislative'', whose powers are vested in a bicameral Parliament; ''the executive'', consisting of the president, aided by the Cabinet which is headed by the prime minister; and ''the judiciary'', with the Supreme Court. 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 an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Pakistan)
The Ministry of Finance is a cabinet-level ministry of the government of Pakistan that is in charge of government finance, fiscal policy, and financial regulation. A Finance Minister, an executive or cabinet position heads it. The Minister is responsible each year for presenting the federal government's budget to the Parliament of Pakistan. History of the Ministry of Finance Established as the first administrative ministry of Pakistan's executive branch in 1947, the Ministry of Finance is considered among the most powerful portfolio and prestigious executive assignments in Pakistan's political spectrum. Ghulam Muhammad, the first finance minister of Pakistan, had neither a watermark nor a security thread. In the line of session to the prime minister, the Finance Minister is second-in-line, and many have ascended as Prime Minister after serving first as Finance Minister. Divisions Finance The ''Finance Division'' comes under the supervision of the Secretary of Finance. The d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan Customs
Pakistan Customs () is one of the cadres of the Civil Services of Pakistan. It is staffed by officers from the Pakistan Customs Service (PCS) which is one of the premier occupational groups among Pakistan's civil services. Pakistan’s Federal taxation was originally organised along the lines of Indirect & Direct taxes, resulting in two occupational groups viz. Customs & Excise Group, and Income Tax Group. However, in 2010 the groups were reorganised along the lines of Domestic Duty & Taxes and International Duties & Taxes, which resulted in formation of Pakistan Customs Service & the Inland Revenue Service. The responsibilities of collecting sales tax and Federal excise on Domestic Transactions were transferred to the newly created Inland Revenue Service (IRS). It has realigned the role of Customs according to best international practice of facilitating legitimate trade & passengers, guarding against illicit trade, and making the country part of global value chains. Powe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inland Revenue Service (Pakistan)
The Inland Revenue Service (IRS) is a department of the Federal Board of Revenue (FBR) in Pakistan. It was established in 2009 and holds the responsibility for overseeing various aspects of domestic taxation, encompassing Sales Tax, Income Tax, and Federal Excise Duty.https://na.gov.pk/uploads/documents/1596521596_925.pdf Background The IRS was established to manage domestic taxation in Pakistan, which includes the administration of Sales Tax, Income Tax, and Federal Excise Duty. This initiative was a pivotal part of a larger undertaking aimed at enhancing tax administration and boosting revenue collection within the country. The IRS plays a crucial role in the country's fiscal policy by ensuring that taxes are collected efficiently and effectively. Role and responsibilities IRS Common Pool Fund Rules The FBR had formulated the IRS Common Pool Fund rules, initially scheduled to be implemented from 1 March 2023. However, the enactment of these rules was postponed due to the exist ... [...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. Early life and education Alfred Charles Turner was born at 36, Campden Street, Kensington, London 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.Da ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
