The person should get to register himself with Federal Board of Revenue first in order to get access of online Custom’s portal ‘WeBOC’. APPLICATION FORM FOR REGISTRATION / WeBOC USER ID ISSUANCE (To be submitted in the User ID Section of Collectorate having jurisdiction) The WeBOC form can be downloaded from: external user registration form Registration Procedure:
Submit the application to the Deputy / Assistant Collector of the BOC User-ID Section, with supporting / required documentation
Appearance of the applicant before the Deputy / Collector User Class Section ID via the original CNIC.
The process of taking a digital photo and thumbing of the applicant for his or her appearance.
Visiting business premises (wherever required)
Acceptance / Refusal of request.
User ID creation when the request is received
Login-ID Issue and Automatic Sending of Password generated by Computer to Applicant by Email.
FBR has issued a withholding tax card 2020-2021 (renewed until June 30, 2020) including an amendment to the Income tax Ordinance, 2001 by the Finance Act, 2020. Under section 236C of the Income tax Ordinance, the 2001 reserve tax must be collected from the seller of immovable property. Everyone who registers, records or certifies or transfers including property managers, real estate managers, community co-operatives and registrars or properties must collect taxes from the seller of immovable property at the time of registration, recording or proof of transport. The tax rate will be one percent of the total value of the consideration received. If a person does not appear in the active taxpayer list (ATL) the tax rate will be two percent of the total value of the consideration received. Withholding tax will be lower when the property is acquired and disposed of within the same year; otherwise the tax will be changed. Advance Taxes, under this section, are not collected if immovable ...
ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rates on profit on debt to be prevailed during Tax Year 2021. The FBR issued withholding tax card 2020/2021 after incorporating changes made through Finance Act, 2020. The rates of withholding tax on profit on debt under Section 151 of Income Tax Ordinance, 2001 to be collected by person making payment of profit/yield from recipients of (profit on debt) at the time the yield (profit on debt) is credited to the account of the recipient or is actually paid, whichever is earlier. According to the tax card: Section 151(1)(a) Yield or profit (profit on debt) on account, deposits or a certificate under the National Saving Schemes or Post Office Saving Account Up to Rs500,000 the tax rate shall be 10 percent of the gross yield/profit paid Exceeding Rs500,000 the tax rate shall be 15 percent of the gross yield/profit paid and 30 percent if the person is not on the Active Taxpayers list (ATL). The FBR said that it shall be mi...
ISLAMABAD: Federal Board of Revenue (FBR) has notified rules to launch Authorized Economic Operator (AEO) program to improve trade and business environment in the country. The AEO was launched by inserting Section 212A was inserted in the Customs Act, 1969 through the Finance Act, 2018. The FBR now issued AEO rules vide SRO 798 (I) /2020 dated August 28, 2020. FBR has also constituted AEO Approval Committee in this regard which is finalizing the request of applicants. Software for business process and WeBOC modules for AEO programme has already been developed and is ready for launch at present. The FBR intend to start Pilot project of the AEO programme at MCC Port Qasim (Exports) Karachi in October, 2020, which will be later on extended to import sector as well. The World Customs Organization’s (WCO) Authorized Economic Operator (AEO) Programme is one of the pillars of WCO’s Framework of Standards to secure and facilitate trade (SAFE). The programme is widely acknowledged as a ke...
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