Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) has constituted an anomaly committee comprising members from business community to give their input in removing irritants in the Finance Bill, 2019. The FBR issued an office order in this regard on Tuesday to identify and remove the technical and legal anomalies in the Finance Bill 2019. The committee […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday constituted an anamoly committee comprising tax professionals to identify legal flaws in Finance Bill 2019. Ashfaq Tola has been nominated chairman of the committee. Hamid Atiq Sarwar, Member IR Policy, FBR has been nominated as vice chairman. Other members of the committee are included: Abid Shaban, Zia […]
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KARACHI: The Finance Bill 2019 has proposed to shift the powers to form Customs Appellate Tribunal from the federal government to the Prime Minister.
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KARACHI: The government has enhanced monetary threshold of principal appraisers and superintendents for adjudication with condition of reducing time limit to 90 days for deciding cases. Through Finance Bill 2019, it has been proposed to redefine the monetary threshold of the officers of customs for adjudication. The bill also proposed to abolish the power of […]
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KARACHI: The government has reduced the goods declaration filing limit from 15 days to 10 days by proposing amendment to Section 79 of Customs Act, 1969. The Finance Bill 2019 has proposed reduction in time limit of filing GD from 15 days to 10 days. Presently Section 79 of Customs Act, 1969 is as: 79. […]
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KARACHI: The government has announced reduction in customs duty on import of various goods. The reduction in duty has been proposed through Finance Bill 2019.
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KARACHI: The government has proposed exemptions from customs duty on import of various goods through Finance Bill 2019. According to A. F. Ferguson & Co. Chartered Accountants Firm the Finance Bill 2019 has proposed exemption from customs duty is proposed on following items: – Various industrial inputs / raw materials – Pharmaceutical products – Plastic […]
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KARACHI: In a determined effort to combat money laundering through foreign trade, the government has unveiled strict measures, including up to 10 years imprisonment for offenders and the confiscation of implicated consignments. These proposed reforms are detailed in the Finance Bill 2019, aiming to amend the Customs Act, 1969.
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KARACHI: The government has put a check on exporters related to unpaid amount of duty and taxes at the time of export clearance and amended law to recover the same. Through Finance Bill 2019, it is proposed to amend Section 32(3)(A) of Customs Act, 1969 to apply this check on exporters. Sub-section (3A) of Section […]
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KARACHI: Federal Board of Revenue (FBR) has been empowered to impose service charges and date of determination of rate of import duty under Customs Act 1969. The Finance Bill 2019 has proposed delegation of powers from federal government to the FBR, which included: levy of fee and service charges; date of determination of rate of […]
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