MCC Islamabad seizes smuggled goods
KARACHI: Customs Islamabad with full assistance of Motorway Police seized a bus carrying smuggled goods and arrested three persons. The FBR is pursuing a rigorous anti-smuggling campaign across the country.…
PCA Karachi detects revenue evasion of Rs341 million in March
KARACHI: Directorate of Post Clearance Audit Karachi has detected duty/tax evasion and short payment of Rs340.934 in the month of March 2016 by various companies and traders. The Directorate LED…
0.4pc WHT to continue on banking transactions till April 30
KARACHI: The Federal Board of Revenue (FBR) has notified extension of reduced withholding tax rate at 0.4 percent on banking transaction up to April 30, 2016. The government imposed 0.6…
Inland Revenue Intelligence raids office, mill of M/s Premier Paper Mills Ltd
KARACHI: The Directorate General Intelligence and Investigation Inland Revenue (I&I-IR) raided business premises as well as manufacturing premises of M/s Premier Paper Mills Limited and assumed all data, records etc…
PCA Karachi detects mass under-invoicing, creates demand of Rs350 million
KARACHI: Directorate of Post Clearance Audit (PCA) Karachi has served contravention on a number of traders importing tyre and tube from India for evading government’s legitimate revenue to the tune…
Central bank reproaches FBR’s dependence on regressive taxation
KARACHI: The central bank has highlighted Federal Board of Revenue (FBR) dependence on regressive taxation to meet targets, and advocates broadening of base through documentation of economy. Regressive tax is…
SHC Provisional release of perfumes consignment allowed
KARACHI: SHC divisional bench of comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Thursday allowed provisional release of a consignment of perfumes on payment of customs…