Author: Shahnawaz Akhter

  • SRB Files FIR Against Restaurant for Misbehavior with Lady Officer

    SRB Files FIR Against Restaurant for Misbehavior with Lady Officer

    Karachi, October 11, 2024 – The Sindh Revenue Board (SRB) has taken firm legal action against a restaurant in Latifabad, Hyderabad, by lodging a First Information Report (FIR) following an incident involving the harassment of a lady officer during an official inspection. The incident has not only highlighted misconduct by the restaurant’s management but also underscored serious issues of persistent tax evasion.

    In a statement released on Friday, the SRB reiterated its unwavering commitment to enforcing compliance with the Sindh sales tax law while maintaining professionalism and respect in its interactions with all taxpayers. However, the unacceptable behavior exhibited by the restaurant’s management during the inspection prompted the SRB to take decisive action. The establishment has been continuously failing to meet its tax obligations, further aggravating the situation.

    The restaurant has a long history of non-compliance, particularly its failure to issue POS-integrated invoices as mandated by law, a critical step in documenting sales and tax payments. Despite multiple show-cause notices, public complaints filed via platforms like the Pakistan Citizen’s Portal, and several assessment and adjudication orders, the restaurant has consistently evaded paying taxes. It currently faces a penalty of PKR 6.73 million for unpaid Sindh sales tax.

    During a recent inspection, tensions escalated when the restaurant’s management not only ignored legal requirements but also misbehaved with a lady officer who was fulfilling her official duties. In response, the SRB promptly filed an FIR against the restaurant owner, sending a clear message that such behavior and tax evasion will not be tolerated. The SRB stressed that it takes the protection and professionalism of its officers seriously, and it stands by its commitment to shield its officers from harassment or undue pressure while they carry out their responsibilities.

    The SRB has called on the public, especially business owners, to actively contribute to fostering a culture of tax compliance. It urged all businesses, particularly those in the restaurant sector, to strictly adhere to the Sindh sales tax law, including the issuance of SRB-prescribed QR-coded POS invoices. The board emphasized that compliance with tax laws is not just a legal duty but also a collective responsibility, essential for ensuring transparency and the legitimate collection of public revenue.

    With the FIR now lodged, the SRB has set a precedent that both tax evasion and misconduct will lead to serious legal consequences. The board reaffirmed its resolve to combat tax evasion and maintain integrity in the taxation system, supporting Pakistan’s economic stability.

  • Digital Retail Payments Surge 35% in FY24: SBP

    Digital Retail Payments Surge 35% in FY24: SBP

    Karachi, October 11, 2024 – The State Bank of Pakistan (SBP) has reported a remarkable 35% surge in digital retail payments during the fiscal year 2023-24, both in volume and value.

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  • FBR Halts Recruitment Process for BS-1 to BS-4 Posts

    FBR Halts Recruitment Process for BS-1 to BS-4 Posts

    Islamabad, October 10, 2024 – The Federal Board of Revenue (FBR) has issued a directive on Thursday halting the recruitment process for positions under Basic Scale (BS) grades 1 to 4 in both the Pakistan Customs and Inland Revenue Service (IRS). This suspension of recruitment applies with immediate effect, as outlined in a circular issued to the heads of Customs and IRS field formations across the country.

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  • Pakistan’s Total Forex Reserves Climb to $16.05 Billion

    Pakistan’s Total Forex Reserves Climb to $16.05 Billion

    Karachi, October 10, 2024 – Pakistan’s total foreign exchange reserves have risen to $16.05 billion, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.

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  • FPCCI Criticizes KP and Balochistan for Levying Cess

    FPCCI Criticizes KP and Balochistan for Levying Cess

    Karachi, October 10, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has strongly condemned the recent decisions by the governments of Khyber Pakhtunkhwa (KP) and Balochistan to impose an Infrastructure Development Cess (IDC) on both imports and exports.

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  • SBP Revises Instructions for Banks on CCTV Camera Installation

    SBP Revises Instructions for Banks on CCTV Camera Installation

    Karachi, October 10, 2024 – The State Bank of Pakistan (SBP) has issued revised directives regarding the installation of Closed-Circuit Television (CCTV) cameras by banks and microfinance banks (MFBs). These revisions, based on input from various stakeholders, are aimed at facilitating the phased implementation of enhanced surveillance measures while ensuring the security of banking operations nationwide.

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  • KCCI Advocates Policy Rate Cut by 300 Basis Points

    KCCI Advocates Policy Rate Cut by 300 Basis Points

    Karachi, October 10, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the State Bank of Pakistan (SBP) to cut the policy rate by at least 300 basis points in response to falling inflation and to stimulate economic growth.

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  • Pakistan Launches Grand Operation Against Sales Tax Fraud

    Pakistan Launches Grand Operation Against Sales Tax Fraud

    Islamabad, October 10, 2024 – In a bold move to address rampant tax evasion and boost revenue collection, Pakistan has launched a large-scale operation targeting sales tax fraud across various sectors of the economy. Finance Minister Mohammad Aurangzeb and Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial made the announcement in a press conference, revealing that the country faces a staggering tax gap of Rs 3.4 trillion due to widespread fraud.

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  • FBR Imposes Major Penalty on Customs Appraiser for Facilitating Tax Evasion

    FBR Imposes Major Penalty on Customs Appraiser for Facilitating Tax Evasion

    Islamabad, October 10, 2024 — The Federal Board of Revenue (FBR) has taken decisive action by imposing a major penalty on Shahzad Ameen Ahmed Babar, an appraising officer of Pakistan Customs, for facilitating the evasion of duties and taxes.

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  • FBR Shuts Down Redemption Fine for Smuggled Goods

    FBR Shuts Down Redemption Fine for Smuggled Goods

    Islamabad, October 9, 2024 – The Federal Board of Revenue (FBR) has announced the complete elimination of the redemption fine for smuggled goods, intensifying the government’s crackdown on illegal trade activities.

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