ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan decided to grant fixed incentive to grade 12 to 22 employees on showing good performance in tax collection in second quarter of the current fiscal year 2015-16 and sent summery to finance minister in this regard.
Chairman Nisar Muhammad Khan asked for Rs 1.385 billion supplementary grants from Finance Ministry. He has also mentioned in the letter that FBR has collected Rs 785 billion surpassing Rs 750 billion target, showing an increase of 26 percent. This outstanding performance shows that FBR employees are confident to achieve the set target (Rs 3,103 billion) of the current fiscal year 2015-16.
The said allowance is only 0.1 percent of the total revenue collection of December and the expenditure incurred on the collection is only 0.7 percent, which is the lowest in the world.
PHC declares levy of excise duty on hand-stemmed tobacco illegal
PESHAWAR: Peshawar High Court has declared that Federal Excise Duty (FED) couldn’t be imposed on green leaf and hand-stemmed tobacco...
