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Pakistan Revenue

Tag: CNIC

FAP demands dollar exchange without CNIC condition
May 16
Money & Banking

FAP demands dollar exchange without CNIC condition

KARACHI: Forex Association of Pakistan (FAP) on Monday demanded the government of allowing US dollar exchange without the condition of Computerized National Identity Card (CNIC) in order to ensure sufficient supply of the foreign currency. In a statement issued by FAP President Malik Mohammad Bostan said an estimated amount of $3 billion were taken at […]

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Retailers share CNICs of consumers with FBR
Dec 30
Taxation

Retailers share CNICs of consumers with FBR

ISLAMABAD: Retailers registered with Federal Board of Revenue (FBR) have started obtaining detail of Computerized National Identity Card (CNIC) of consumers, who buy goods above Rs100,000, tax officials said. The sources on Tuesday said that retailers having sales tax registration number (STRN) were providing details of ordinary consumers on sale of goods above Rs100,000 through […]

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CNIC condition reduces transactions and revenue: FBR
Oct 20
Trade & Industry

CNIC condition reduces transactions and revenue: FBR

KARACHI: Federal Board of Revenue (FBR) has admitted that the condition of Computerized National Identity Card (CNIC) reduced number transactions as well as shortfall in revenue. “This [CNIC] condition has further reduced transaction and our revenue,” Dr, Muhammad Ashfaq Ahmed, Member, Inland Revenue, Federal Board of Revenue (FBR) quoted as saying in a statement issued […]

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Commercial importers demand abolishing CNIC condition, FTR restoration
Jun 5
Trade & Industry

Commercial importers demand abolishing CNIC condition, FTR restoration

KARACHI: Commercial importers have demanded the government of abolishing condition of Computerized National Identity Card (CNIC) and restoring Final Tax Regime (FTR) in order to save businesses from adverse impact of COVID-19. Amin Yousuf Balgamwala, Chairman Pakistan Chemical Dyes and Merchants Association (PCDMA) and former Director of Karachi Stock Exchange has appealed to Prime Minister […]

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Immunity from audit against CNIC condition demanded
May 2
Budget 2020-2021, Trade & Industry

Immunity from audit against CNIC condition demanded

KARACHI: The business community has demanded the Federal Board of Revenue (FBR) to give immunity from audit against CNIC condition for tax year 2020. In its budget proposals for fiscal year 2020/2021, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) demanded amnesty from audit against Computerized National Identity Card (CNIC) condition for tax […]

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Karachi Chamber advocates unregistered transactions
Apr 13
Trade & Industry

Karachi Chamber advocates unregistered transactions

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) reiterated demand for eliminating condition of Computerized National Identity Card (CNIC) and allow unregistered persons to make purchases freely. KCCI President Agha Shahab Ahmed Khan in a statement on Monday urged the government to immediately waive CNIC requirement for sales to unregistered persons and three percent further […]

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FBR urged to defer CNIC condition for six months
Mar 29
Trade & Industry

FBR urged to defer CNIC condition for six months

KARACHI: Business community has urged Federal Board of Revenue (FBR) to defer CNIC condition on purchases above Rs50,000 for at least six months. In a statement Saquib Fayyaz Magoon, Convener of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) standing committee on Sales Tax and Chairman Indenters Association of Pakistan (IAOP), urged Government to […]

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