Pakistan facing political challenges in broadening tax base: IMF

KARACHI: International Monetary Fund (IMF) has said that broadening of tax base in Pakistani government is facing political challenges despite initial success after convincing opposition on reforms. In the country report on Pakistan, the IMF said that economic prospects of the country are improving, but Pakistan remains vulnerable to economic… Continue reading

0.8kg heroin seized from courier parcel

KARACHI: Pakistan Customs Drug Enforcement Cell – DEC, Karachi Airport Unit recovered and seized 800 grams heroin powder from a courier parcel at Karachi Airport. According to details, Customs DEC staff during clearance of outgoing international courier mail intercepted a Courier parcel booked for Lancashire UK from Karachi. Upon examination… Continue reading

Withholding tax imported motor vehicles made mandatory at time of registration

KARACHI: The Federal Board of Revenue (FBR) has made mandatory the collection of withholding tax at the time of registration of imported vehicle. According to the Finance Act, 2014 passed by the Parliament the money bill amended and now withholding tax will also be collected on registration of imported motor… Continue reading

Customs foils a bid to smuggle mobile phones into the country, makes one arrest

KARACHI: The Customs Authorities have foiled a bid to smuggle mobile phones worth Rs20 million into the country and arrested a passenger in this regard. Following the directives of Tariq Huda Collector Preventive, Additional Collector Tahir Qureshi and Assistant Collector Mukhtar Shaikh checked the consignments cleared through the ‘green Channel’… Continue reading

Customs officials to donate one-day salary annually to IBA deserving students

KARACHI: Tariq Huda, Collector, Model Customs Collectorate (MCC) Preventive on Wednesday announced on behalf of customs officials to donate one-day salary annually for the deserving students of Institute of Business Administration (IBA). The collection will make a total of Rs 4 million which will be helpful four-year study program for… Continue reading

M/s Z.A Pharma found evading duty/tax through a fake DRA license

KARACHI: The R&D Section of MCC Appraisement East has discovered a massive evasion of revenue by M/s Z.A Pharma through availing undue tax concession by the use of a fake formulation license. According to the details of the case, Drug Regulatory Authority (DRA) of Pakistan, Islamabad confirmed that the License… Continue reading

Tax officials using political influence in service matter to be penalized

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to take stern action against its officials, who approach the board to exert political pressure for their promotion and postings. In an office order issued on Friday, the FBR said that it had observed with great concern that some officials were… Continue reading

Post Budget Conference: Dar warns profiteers against increasing prices making budget as excuse

ISLAMABAD: Federal Finance Minister Ishaq Dar on Wednesday warned of taking stern action against those who increase prices linking to the budget and the finance bill. Addressing the post budget conference, he said: “taxation measure will not affect the common man.” He said that about Rs231 billion additional taxes would… Continue reading