Syed Shabbar Zaidi (@ShabarZaidi )

Syed Shabbar Zaidi

Bio Chairman FBR
Location Islamabad, Pakistan
Tweets 77
Followers 77,5K
Following 0
Account created 31-08-2019 13:17:01
ID 1167788330727198722

iPhone : Alhumdulillah, feeling better. Had tests and treatment done at Gastro Deptt of SIUT Karachi. Diagnostic reports are OK. Mild inflammation in track. Doctors advised 15 days rest. Inshallah will join on 20th. Thanks to all who sent well being messages. Pray for early recovery.

iPhone : The PM will formally announce the concessions given to traders community and will seek assistance of tade bodies in complete documentation and tax contribution by trading sector.

iPhone : Alhumdulillah FBR has collected Rs 2080 billion by this time for the half year ended December 31, 2019. This is higher by 16 percent over last year for the same period.

iPhone : FBR is thankful for the over whelming and productive response of Tier 1 Retailers for integration with ‘Point of Sales’ (POS) system. FBR IT will ensure compatibility of ‘systems’ with FBR software. We are fully committed to automated system with least human intervention.

iPhone : Integration of Tier 1 Retailers with automated ‘Point of Sales’ system is a win win situation both for such retailers and FBR. FBR assures a smooth, harassment and hassle free transition. It will be ensured that a transparent system with least human intervention is put in place.

iPhone : FBR is seriously working to curb under invoicing of imports. Valuation system and processes are being improved. Nevertheless, FBR seeks the support of business community including Chambers of Commerce on this matter. This issue is highly important to save local industry.

iPhone : ‘Origin of import circumvention’ means declaration or representation of wrong country of origin. Serious instances of such circumvention being noticed with respect to goods of Indian origin using various regional ports for that purpose. This action will be prosecuted severely.

iPhone : Supreme Court of Pakistan has accepted the contention of FBR that ‘Capital Value Tax (CVT) is collectible where property is transferred by a company. Held that CVT is collectible in all transfers, not limited to those undertaken by Registrar of Properties.

iPhone : In case of cotton ginning industry output sales tax at the rate of 10 percent is collected / paid by purchasers. Field formations, especially those in cotton growing areas, to ensure that sales tax is duly collected and accounted for. Possibility of evasion be avoided.

iPhone : FBR is working in developing a ‘expeditious settlement’ of ‘non duty paid’ fast moving consumer goods available in the market. Details will be released next week. The purpose is to facilitate businessmen and improve documentation without disturbing business confidence.

iPhone : FBR is pleased to announce that process of implementation of agreement with traders will start next week. Committees represented by the traders of each area/ market, covering the whole country will be notified. Traders and FBR will work together for registration. A new beginning

iPhone : I thank Pakistan Banks’ Association and the management of all the banks for complete cooperation in disposing off long outstanding pending litigation. We assure on behalf of FBR that we will reciprocate confidence and cooperation extended to us.

iPhone : FBR has released to this date around Rs 5.5 billion worth of refunds under fully automated FASTER system. However the most important feature and the change in paradigm is that such refunds have been issued under fully automated, impersonal, harassment and corruption free system.

iPhone : FBR formations are directed to ensure that all industrial and commercial consumers of Electricity and Gas distribution companies are registered under and file return of income, if required. Such consumers, who have not yet filed return of income to avail extension in time.

iPhone : FBR reiterates that every person owning a car above 1000 cc and a house measuring 500 sq. yards or above is mandatorily required to file return of income irrespective of having any taxable income during the year. Penal actions will be taken against delinquents. Avail extension.

iPhone : Alhumdullilah, FBR has collected Rs 334 billion during the month of November 2019. This is 17 percent more than last year’s collection for the comparative five months. Upto last month the overall increase was 16 percent.

iPhone : On behalf of FBR, I thank Pakistan Bank Association and Presidents of all the banks for agreeing to withdraw pending litigation on the matter of furnishing of certain information. This positivity has been achieved by mutual consultation. A way forward of cooperation has opened.

iPhone : FBR announces that all applicable custom ‘Valuation Rulings’ for the purposes of import have been placed on FBR website. Businesses and public at large are suggested to identify the cases of under valuation.

iPhone : In order to further promote transparency and ease in doing business it has been decided that ‘custom rulings’ in force for import valuation will be easily accessible on FBR website. Businesses are suggested to assist in identifying cases of under valuation etc.