Pakistan Customs took a significant step on Wednesday by destroying a substantial quantity of counterfeit products valued at Rs120 million.
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Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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Customs imposes 10pc fine for releasing unregistered phones
KARACHI – Pakistan Customs has announced the imposition of a 10 percent fine on the total amount of duty and taxes involved for the clearance of unregistered mobile phones.
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Salary tax slab of above Rs800,000 to pay Rs2,000 as minimum tax
Islamabad – The Federal Board of Revenue (FBR) has introduced a minimum tax for salary individuals with taxable income exceeding Rs800,000 but not exceeding Rs12,000 for Tax Year 2019.
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Pakistan imposes new conditions for clearance of new and used imported vehicles
In a bid to enhance transparency and ensure fiscal compliance, Pakistan has implemented new conditions for the clearance of both new and used imported vehicles under concessionary schemes.
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MCC Preventive auctions confiscated vehicles on January 18
The Model Customs Collectorate (MCC) Preventive has scheduled a public auction of confiscated vehicles to be held on January 18, 2019, at the headquarters of the Anti-Smuggling Organization (ASO) in Ghasbandar, Karachi.
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Advance tax on domestic, international air tickets adjustable
The Federal Board of Revenue (FBR) has recently introduced revised advance tax rates on both domestic and international air tickets to be collected from purchasers.
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FBR to issue assessment notices of last ten years to potential taxpayers
KARACHI – The Federal Board of Revenue (FBR) has taken a significant step toward improving tax compliance by announcing its intention to issue assessment notices covering the past ten years to potential taxpayers and individuals who have failed to file a tax return for any of the last five years.
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FBR notifies transfer, postings of 17 IRS officers
ISLAMABAD: The Federal Board of Revenue (FBR) issued a notification on Monday regarding the immediate transfers and postings of officers belonging to the Inland Revenue Service (IRS) in grades BS-17 to BS-19, effective until further notice.
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Income Tax Ordinance, 2001: Commissioner IR can issue assessment order on day return filed
The Federal Board of Revenue (FBR) in Pakistan has granted the Commissioner Inland Revenue the authority to issue assessment orders against a tax return on the very date it is filed.
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Auction of confiscated vehicles on Jan 23 by Rawalpindi Customs Intelligence
The Directorate of Intelligence and Investigation – Customs, Rawalpindi, has officially declared a public auction of confiscated vehicles scheduled for January 23, 2019.
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