Tax offices to remain open till 10pm today for tax filers
These institutions have been directed to extend office hours on Saturday till 10pm.
(Web Desk) – The Federal Board of Revenue (FBR) has issued instructions to all Large Taxpayer Units, Corporate Regional Tax Offices and Regional Tax Offices to remain open on Saturday (March 30) to facilitate the taxpayers in payment of duties and taxes and filing of income tax returns.
These institutions have been directed to extend office hours on Saturday till 10pm.
FBR sets up new offices to check offshore transactions
The FBR on Friday three new tax collection institutions – including the Directorate General of International Tax Operations to impose and collect taxes on undeclared offshore assets and income and bring illegal assets worth billions of rupees stashed abroad into the tax net.
According to sources, the other two institutions – the Directorate General of Input, Output Coefficient Organisation (IOCO) and Directorate General of Broadening of Tax Base (BTB) were set up earlier.
Directorate General of International Tax Operation has been introduced through Finance Supplementary (Second Amendment) Act, 2019.
FBR officials said the creation of separate offices would enhance the efficiency and tax officials would focus on specific tasks.
They said that BTB was previously operated with the normal working environment and all the officials of Inland Revenue were identifying potential taxpayers along with other tasks, including enforcement and audit.
The FBR has already designated officials to the new directorates for smooth operation.
The officials said since the benami laws have been enforced and the cases had been transferred to BTB the workload would increase. They said that by separating the office, the tax officials would have an independent environment to identify potential taxpayers.
Officials said that Input-Out Coefficient Organisation had been set up for allowing exemptions and concession to the industry on the basis of their usage and consumption of raw material. This directorate has already been operational at Pakistan Customs.
The directorate on international tax operation would have mandate to receive and send information from other countries under spontaneous, automatic and demand exchange of information agreements.
Further, this directorate was also mandated to levy and recover by passing orders in case of undeclared off-shore assets and incomes. The directorate has been authorised to conduct transfer pricing audit.
