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FBR- set up committee to tackle money laundering

The Federal Board of Revenue (FBR) constitutes a Multi-Agency Money Laundering (ML) Testing and Seizure Committee, with ratification of national anti-money laundering schemes and the follow-up of MLG inspection and theft of stolen assets. In this regard, the FBR’s FATF has recently issued a notification to combat cell money laundering and terrorist financing effectively. According to the notification committee, the National Accountability Bureau (NAB), Federal Investigation Agency (FIA), Anti-narcotics Force (ANF), FBR Customs, FBR Inland Revenue, Financial Monitoring Unit, FTF Secretary There will be representatives. Representatives of the Provincial Anti-Terrorism Department (CTD) and intelligence agencies. The DGFETF will chair the secretariat committee. Under the Regulation of the MLL Investigation and Mitigation Committee of the Multi-Agency, the Committee shall ensure coordination and coordination procedures between Member Organizations and law enforcement agencies. The committee proposes improvement in overall domestic cooperation on ML investigations and confiscation issues through information exchange between law enforcement…

FBR releases Active Tax List for 2020 tax year

Pakistani Rupees, Pakistani currency notes FBR releases Active Tax List for 2020 tax year. The Federal Board of Revenue (FBR) on Monday released a list of over 2.1 million income tax returns of active taxpayers for taxpayers 2020 as of March 1, 2021. Income tax return for the 2020 tax year has now risen to 2.62 million compared to 2.43 million last year, indicating an increase of 8%.However, the updated ATL contains data from more than 2.1 million taxpayers as the rest have not paid the late filing charge. Must be on latest ATL. The list of active taxpayers of Azad Jammu and Kashmir should be treated at par with ATL (Income Tax) after amendment of Income Tax Ordinance 2001 through Finance Act 2018. Earlier, the FBR’s List of Active Taxpayers (ATL) was linked with the Income Tax Return for the tax year 2019. The Active Taxpayer List (ATL) is…