SHC issue notices in cheese case
KARACHI: Notices were issued for a date in office by a custom appellate bench of High Court of Sindh in a Special Custom Reference Application (SCRA) filed by Directorate of…
SHC dismisses Special Custom Reference Application by Customs in short levy recovery case
KARACHI: A Special Custom Reference Application filed by Pakistan Customs against an order passed by Custom Appellate Tribunal pertaining to jurisdiction of Pakistan Custom for enforcing recovery of short levied…
Inland Revenue Internal Audit Uncovers Tax Fraud at Al-Junaid Impex: Interim challan submitted
Karachi: The Directorate of Internal Audit-Inland Revenue in Karachi has submitted an interim challan in a significant tax fraud case involving Al-Junaid Impex. The firm, operating as a domestic “shell”…
Deputy Commissioner-IR, LTO ordered to appear before SHC on May 08
KARACHI: Annoyed by the issuance of Hearing Notices issued in a matter which stoods settled by the Supreme Court of Pakistan, an appellate bench of High Court of Sindh, ordered…
SHC Petition by Al Ghazi Tractors Limited dismissed as no maintainable
KARACHI: A Tax Appellate bench of High Court of Sindh dismissed a petition filed by Al-Ghazi Tractors Limited as being not maintainable. The petitioner company sought declaration regarding legality of…
President KCCI for complete ban on imported recycled plastic
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Mohammed Tariq Yousuf has advised the government to put the import of recycled plastic under any description in the negative list…
FBR raises sales tax on unregistered persons to 4 percent
KARACHI: The Federal Board of Revenue (FBR), the revenue division of the government of Pakistan, has announced a one percent increase in the sales tax (further tax) on unregistered persons…
SHC reverses Appellate Tribunal’s order in the case of M/s Causis Mass Transit
KARACHI: Sindh High Court has set aside the order of Customs Appellate Tribunal in the case of fraudulent import of electric buses, and advised Customs Collectorate to assess the imported…
Karachi Chamber for out-of-the-box solutions to avoid further downslide of economy
FEDERAL BUDGET PROPOSALS 2023-24: KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) firmly believes that that out-of-the-box solutions were needed to avoid further downslide of economy while the decision-makers…
SHC allows STRA filed by Mehran Sugar Mills against additional tax
KARACHI: After 17 long years, a Special Sales Tax Reference Application was decided in favor of Mehran Sugar Mills Limited by a Sindh High Court Tax Appellate bench headed by…
SHC dismisses bail application by accused Custom Consultant
KARACHI: A custom appellate bench of High Court of Sindh dismissed two bail application filed by an accused Custom Consultant Asad Iqbal Shaikh. The accused was represented by Aslam Bhutta…
Heavy Taxes on Cigarettes Will Facilitate Illicit Manufacturers
The tobacco sector has been at the hit list for the government’s increasingly higher revenue collection needs, by paying higher taxes. The fresh massive strike of around 153 percent Federal…
SHC allows petition by Lace Fashion for quashing of F.I.R.
KARACHI: An F.I.R registered after 11 years of default against Lace Fashions for alleged in-admissible sale tax refund claim was quashed by a custom appellate bench of High Court of…
FTO orders probe against Millat Tractors Limited for alleged tax fraud worth 14.88 billion
ISLAMABAD: Federal Tax Ombudsman (FTO) ordered Chief Commissioner Inland Revenue, Lahore to make a detailed inquiry into allegation of Sales Tax Fraud by Millat Tractors Limited (MTL). The Director General…
Customs Adjudication slaps fine/penalty of Rs442mn on M/s CAUSIS Mass Transit
KARACHI: Collector Adjudication Feroz Junejo has penalized M/s CAUSIS Mass Transit (Pak) Private Limited for fraudulent mis-declaration of value of imported electric buses to evade legitimate government revenue. The importer…
KTBA moves Member Policy IR over double collection of IT
KARACHI: Karachi Tax Bar Association (KTBA) has moved against notices issued by the Inland Revenue to Malls, Amusement Parks etc asking them to collect income tax on electricity bill. KTBA…
SHC allows appeal by DC IR
This appeal challenges the Judgment and Decree passed in Suit No. 1663 of 2009 where the core issue as to whether the colouring compounds commercially known as “Masterbatches” locally manufactured,…
I&I Peshawar seizes smuggled goods worth Rs200 million
ISLAMABAD: In line with the directives of Director General Faiz Ahmed, Customs Intelligence and Investigation Peshawar recovered large quantity of smuggled goods worth over Rs200 million. Information was passed through…
FTO took own motion cognizance of the cases lying unattended in different offices of FBR
KARACHI: The Tax Ombudsman Asif Jah in pursuance of own motion cognizance has ordered FBR to trace out the record of remanded back cases prior to the year 2019 and…
MCC Appraisement East creates recovery of evaded revenue against pharmaceutical companies
KARACHI: R&D of MCC Appraisement East has created recovery to the tune of millions of rupees against several pharmaceutical companies. The sum was evaded on import of excipient/chemicals by claiming…