MCC Peshawar announces auction of vehicles, auto parts on May 19

ISLAMABAD: Model Customs Collectorate (MCC) Appraisement and Facilitation, Peshawar has announced auction of vehicles and auto parts to be held on May 19, 2020 at State Warehouse (Custom Railway Dry port, Peshawar.... Read more »

Tax authorities consider reducing minimum tax rate: Zeeshan Merchant

KARACHI: Tax authorities have agreed to consider reducing minimum tax rate for corporate sector and individuals in the upcoming budget, especially in the wake of financial losses due to coronavirus pandemic, a... Read more »

Time limit for customs valuation issuance should be fixed

KARACHI: Federal Board of Revenue (FBR) has been recommended to fix time limit for issuance of customs valuation. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in its proposals for budget... Read more »

FBR advised to make annexure-J mandatory to prevent under reporting

KARACHI: Federal Board of Revenue (FBR) has been advised to make it mandatory the filing annexure-J along with monthly sales tax returns in order to remove disparity between formal and informal sectors.... Read more »

FBR urged to clarify income tax relief to group companies

KARACHI: Federal Board of Revenue (FBR) has been urged to clarify group relief under income tax laws regarding a holding company can purchase losses of its subsidiary. Pakistan Business Council (PBC) in... Read more »

FBR extends date for payment, return filing

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing monthly sales tax return and payment for March 2020. In a notification issued on Friday, the FBR extended the... Read more »

FBR allows filing annex-H for July-Dec up to June 30

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced extension in date for filing annexure-H (stock position) up to June 30, 2020 for the period July – December 2019. Filing Annexure-H is... Read more »

Huge lot of Afghan transit vehicles to be auctioned on May 15

KARACHI: A large number of motor vehicles of Afghan Transit Trade has been offered for auction at Port Muhammad Bin Qasim International Terminal Operator (QICT), Karachi. The auction is scheduled for May... Read more »

FBR officials fail to submit asset declarations; names made public

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday released the names of officers in Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) who failed to submit their declarations of assets. The... Read more »

FBR urged to reduce regulatory duty on lighting fittings

KARACHI: Federal Board of Revenue (FBR) has been urged to reduce regulatory duty on lighting fittings in alignment with LED bulbs and LED tubes. The Overseas Investors Chamber of Commerce and Industry... Read more »