Ministry notifies implementation of labeling, printing requirements on imported goods from July 01

ISLAMABAD: The ministry of commerce on Tuesday notified the implementation of labeling and printing conditions on imported goods from July 01, 2019. The commerce ministry issued SRO 438(I)/2019 to amend Import Policy... Read more »

MCC Islamabad announces auction of vehicle on April 11

ISLAMABAD: Model Customs Collectorate (MCC) Islamabad has announced public auction of confiscated vehicles and those vehicles surrendered by Prime Minister House under austerity measures and surrendered by National Agricultural Research Centre (NARC)... Read more »

FBR waives penalty on overstayed consignments

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday waived penal surcharges on overstayed consignments to facilitate trade community. The FBR said that the waiver had been granted in pursuance to decision taken... Read more »

Many withholding tax provisions to be abolished in budget

ISLAMABAD: The government has intended to abolish large number of withholding tax provisions in the budget. Read more »

FBR empowered to use third-party information for identifying tax dodgers: MTEF

ISLAMABAD: Federal Board of Revenue (FBR) has been empowered for using third-party information to identify tax dodgers. The Medium-Term Economic Framework (MTEF), which was launched on Monday by the Finance Minister Asad... Read more »

All tax exemptions to have sunset clause: MTEF

ISLAMABAD: The ministry of finance on Monday launched Medium-Term Economic Framework (MTEF), which envisaged that all permanent exemptions to be withdrawn or have a sunset clause. Read more »

Amnesty Scheme 2019 likely be introduced on April 15

ISLAMABAD: The government likely to introduce new tax amnesty scheme 2019 for undeclared foreign and local assets from next week. Read more »

Active taxpayers list shows 1.88 million return filers

KARACHI: The number of active taxpayers has increased to 1.88 million for tax year 2018 by April 07, 2019, revealed by official document on Monday. Read more »

Sales Tax Act 1990: buyer, seller jointly responsible for unpaid tax

KARACHI: Where an amount of tax unpaid in supply chain then registered buyer and seller are both responsible for paying to national exchequer. Read more »

Customs to auction huge quantity of vehicles, motor bikes on April 09

KARACHI: Pakistan Customs has announce public auction of used motor vehicles and heavy bikes to be held on April 09, 2019 at Bay West, West Wharf Road, Karachi. Read more »

Accountability framework for FBR officials suggested to make tax audit transparent

KARACHI: Pakistan Tax Bar Association (PTBA) has said that there should be accountability framework for tax officers in order to make audit transparent. Read more »

Sales Tax Act 1990: tax credit not allowed under various conditions

KARACHI: A registered sales tax person is not allowed to entitle to reclaim or deduct input tax paid on various activities of manufacturing / supplies. Read more »