KARACHI: Tax officials have been authorized to recover short payment of sales tax through freezing bank accounts of taxpayers without serving show cause notice. Read more »
KARACHI: Importers are liable to deposit bank guarantee against deferential amount assessed provisionally by customs authorities on those consignments, which required further examination. Read more »
KARACHI: Federal Board of Revenue (FBR) has taken measures to improve trade facilitation and curb smuggling in Balochistan. Accordingly a senior BS-21 officer of Pakistan Customs Service(PCS) has been specifically posted as... Read more »
KARACHI: Federal Board of Revenue (FBR) has said that a person’s income chargeable to tax shall be computed in accordance with the method of accounting regularly employed by such person. Read more »
KARACHI: Federal Board of Revenue (FBR) has made it mandatory for buyers to make payment above Rs50,000 through crossed cheque or banking instruments ensuring transfer of payment to seller’s account. Read more »
KARACHI: The collector of customs has been empowered to allow provisional release of imported goods, on which any offence is detected, against duty and payment and submission of bank guarantee for penalty... Read more »
KARACHI: Federal Board of Revenue (FBR) has held responsible buyers and sellers in a supply chain where payment of tax is not deposited into the national kitty. Read more »
KARACHI: The rent received or receivable by a person during a tax year is chargeable to tax under head of income from property. Read more »
KARACHI: Pakistan Customs has been empowered to refuse clearance of vessel until payment of dues including port dues and other charges and penalties. Read more »
KARACHI: Federal Board of Revenue (FBR) has outlined the revised regime of zero rating of sales tax on supply of various goods. Read more »
ISLAMABAD: The Federal Board of Revenue (FBR) has imposed major penalty of ‘dismissal from service’ upon a senior auditor for availing plea bargain benefit in corruption case. The FBR on Friday said... Read more »
KARACHI: Federal Board of Revenue (FBR) has asked motor vehicle registration authorities and car manufacturers to provide information of persons, who are registration or purchasing motor vehicles. Read more »