Show Cause Notice against Coca Cola set aside
KARACHI: The Customs Appellate Tribunal has set aside the order in appeal of Collector (Appeals) that established the charge against Coca Cola Beverages Ltd for unlawfully obtaining benefit of SRO…
FBR undertakes major reshuffling
KARACHI: The Federal Board of Revenue has notified a major reshuffling as 25 officers of BS-16 have been transferred to different positions throughout the country. According to details, Syed Sirajul…
No tax exemption to JVs/AoPs having a non-resident partner
KARACHI: The Federal Board of Revenue (FBR) has notified that the income of Joint Ventures (JVs)/Association of Persons (AoP) in which one partner is a non-resident company, is neither exempt…
Auditors called back to RTOs
KARACHI: The Federal Board of Revenue (FBR) has directed three auditors (BS-16) to immediately report back to their respective Regional Tax Offices (RTOs). These officers were placed at the disposal…
FTO recommends large-scale reforms in FBR
KARACHI: Federal Tax Ombudsman (FTO) has said that corruption had peaked in the country and recommended large scale reforms in the Federal Board of Revenue (FBR). Talking to business community…
FBR might assess possible in-appropriation in withholding and deposit of taxes by cell Cos
KARACHI: The disparity between the revenues of telecom companies particularly the cellular service providers and deposit of withholding tax has compelled the Federal Board of Revenue (FBR) to consider assessment…
IESCO official posted at Customs
KARACHI: A Commercial Assistant (BS-14) of Islamabad Electric Supply Company (IESCO) has been sent on deputation to Model Customs Collectorate (PaCCS) in the capacity of an Assistant (BS-14) and his…
GDs to be accompanied with copy of master bill of lading
KARACHI: The Model Customs Collectorate has made it compulsory that all Goods Declarations (GD) submitted in the relevant appraising group for assessment/clearance shall be accompanied with original copy of the…
ASO seizes smuggled goods worth Rs184.468 million
KARACHI: The Anti-Smuggling Organisation (ASO) of the Customs Preventive has made 108 seizures during July-December 2012 and smuggled goods confiscated worth Rs184.468 million. According to details, the seized goods include…
Customs collects Rs 58.121 million from Karachi Airport arrivals
KARACHI: The staff of Pakistan Customs of internationals arrivals Jinnah International Airport made a record revenue collection of Rs. 18 million in respect of duty & taxes which is 573…
Customs Valuation Ruling (VR) leave no room for value dispute requests
KARACHI: The Chief collector of Customs (South) has made it clear that the customs value of any imported commodity determined by the Director Customs Valuation in the form Valuation Rulings…
Customs concessionary regime only admissible on air-conditioners’ CKD
KARACHI: The Federal Board of Revenue (FBR) has directed all Collectors of Customs that concessionary rate of customs duty on raw material, components and sub-components for the manufacturing of air-conditioners…
Fauji Cement asked to bank guarantee 50pc of demand created by Customs
KARACHI: The Customs Appellate Tribunal has suspended the recovery notice issued by Collector of Customs to the Fauji Cement Company (FCC) as their appeal against the said notice was lying…
Amendment in Customs General Order 12/2002
KARACHI: The Federal Board of Revenue has substituted the para 116 of Customs General Order No.12/2002. According to the new para, vehicles to be treated as ambulances must have the…
Supreme Court admits Additional Commissioner IRS competent to issue notice under section 122(5A) of Income Tax Ordinance, 2001
KARACHI: The Supreme Court of Pakistan has admitted Additional Commissioner Inland Revenue (IRS) as the competent authority to issue notice a taxpayer under section 122(5A) of the Income Tax Ordinance…
Tax Authorities exert more pressure on media
The tax authorities have exerted further pressure on media to keep their voices shut against the proposed tax amnesty scheme, and threatened to make public portfolios of people who whitened…
Transfers/Postings in IRS
KARACHI: The Federal Board of Revenue (FBR) has notified transfers and postings in Inland Revenue Services (IRS) with immediate effect. According to details, Dr. Aftab Imam (IRS/BS-19) Additional Commissioner Regional…
Transfer/Posting in Pakistan Customs
KARACHI: The Federal Board of Revenue (FBR) has notified transfers and postings of eight senior officials in Pakistan Customs Services with immediate effect. According to details, Amer Rashid Sheikh )PCS/BS-19)…
FBR shushes media on amnesty scheme through notices
KARACHI: The tax authorities have adopted a zero-tolerance policy for launching the proposed tax amnesty scheme that even the media has been shushed through, what one might say, unethical move.…
Nothing for FBR officials unless revenue target met
KARACHI: Chairman Federal Board of Revenue (FBR) has linked officials’ promotions and other fringe benefits with meeting the ambitious revenue target and asked them to go all out to increase…