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Tag: monitoring

  • FBR launches online tax monitoring of steel products

    FBR launches online tax monitoring of steel products

    ISLAMABAD: The Federal Board of Revenue (FBR) has launched online monitoring of sales and purchases by steel sector.

    The FBR issued draft amendment to Sales Tax Rules, 2006 through SRO 541(I)/2022 dated April 22, 2022.

    READ MORE: FBR forms committee to resolve pharmaceutical tax issues

    The tax body proposed amendment to Rule 150FZ for electronic monitoring, tracking and tracing of production, import and supply of the goods.

    The FBR included the steel products in the list of online. At present products of six sectors already in the list, which are: tobacco products, beverages, sugar, fertilizer, cement and petroleum products.

    The FBR said that all the specified goods shall be monitored, tracked and traced in the manner provided in this Chapter and any other instructions, procedures and orders issued by the FBR.

    READ MORE: FBR allocates quota for industries in erstwhile FATA/PATA

    Further that the specified goods, if brought from non-tariff area as defined in the Federal Excise Act, 2005, shall be treated as imported goods for the purposes of this Chapter.

    The Rule 150ZH of the this chapter stated that goods to be affixed with tax stamps, banderoles, stickers, labels, barcodes, etc.–

    (1)On every package, including a tin, container or bottle, of the specified goods whether manufactured or imported shall be affixed or printed a tax stamp, banderole, sticker, label, barcode, unique identification marking, code], etc., hereinafter referred to as tax stamp, in the manner prescribed under this Chapter:

    Provided that in respect of such specified goods which are exempt or meant for export tax stamps whatever the case may be shall be clearly, legibly and indelibly marked as ‘Exempt Goods’ or ‘For Export’, as the case may be.

    READ MORE: FBR announces prize winners of 4th POS invoice draw

    (2) Every tax stamp required to be affixed under these rules shall bear such security features as are approved by the Board in order to–

    (a) prevent counterfeiting;

    (b) enable accounting of production of the specified goods; and

    (c) enable any person in the supply chain or an officer authorized by the Commissioner Inland Revenue to authenticate such tax stamp.

    (3) The system for imported goods shall be installed in a designated area at the port of importation or a customs bonded warehouse, as the case may be, declared by the importer for this purpose, or any other place approved by the Project Director:

    READ MORE: FBR takes measures to facilitate taxpayers in 1HFY22

    Provided that the Board may allow tax stamps to be affixed on any specified goods to be imported in a production facility in the exporting country, subject to such conditions as the Board may specify.

    (4) No person engaged in manufacturing, sale or purchase or handling of specified goods shall remove or tamper with the tax stamp affixed thereon until these are sold to the final consumer.

  • Meeting decides speeding up installing video monitoring cameras at sugar mills

    Meeting decides speeding up installing video monitoring cameras at sugar mills

    ISLAMABAD: A high level meeting chaired by Prime Minister Imran Khan on Wednesday decided to speed up the process of installing video monitoring cameras at sugar mills to ensure transparency in production and supply.

    The prime minister was presiding over weekly review meeting regarding the availability and prices of basic commodities across the country.

    The meeting was briefed about the various measures taken in the light of Sugar Inquiry Report to keep the price of sugar under control. It was decided that the process of installation of cameras in sugar mills would be quickened.

    Besides, the Federal Board of Revenue (FBR) will provide the provincial governments with details of sales tax collected in the head of sugar so as to make the system transparent.

    The meeting was told that owing to the effective measures taken by FBR, the collection of sales tax from sugar had recorded 84 percent increase during July-January period of the current fiscal year.

    Prime Minister Imran Khan said that besides making the availability of basic commodities certain, ensuring appropriate prices was foremost priority of the government.

    He directed the administration of Utility Stores Corporation (USC) to ensure the ample availability of basic goods at all outlets.

    The meeting was attended by the relevant Federal and Provincial Ministers, Secretaries, Chief Secretaries and other senior officers.

    The prime minister directed the Ministry of National Food Security to complete at the earliest the assessment work regarding the future requirement of basic commodities like wheat and sugar so as to ensure advance arrangements in that regard.

    He directed all the chief secretaries to ensure the implementation of price list through active and effective role of the administration.

    The prime minister ordered to ensure immediate action against the officers committing any negligence in that respect.

    Minister for Finance Dr Hafeez Sheikh told the meeting that in the month of January 2021, the Consumer Price Index (CPI) was recorded at 5.7 percent as against 14.6 percent recorded in the corresponding month of previous fiscal year.

    Similarly, the CPI recorded at 8.2 percent during July-January period of the current fiscal was also lower when compared with 11.2 percent recorded during the same period of last fiscal, he added.

    The meeting was told that the comparison based on the latest statistics depicted significant decline in CPI.

    It was further told that the prices of sugar, eggs, onion etc. have recorded decline whereas the price of wheat flour had shown stability.

    The meeting was also briefed about the situation of official release of wheat along with the details of price differential at whole sale and retail levels in various districts.

    It was told that price differential at whole sale and retail levels depicted the failure of market committees.

    The meeting decided to immediately abolish the existing market committees in the two provinces ruled by Pakistan Tehrik-e-Insaf (PTI) and hand over the responsibilities to District and Tehsil administrations till the constitution of new committees comprising competent people through a transparent process.

    It was decided that in case of non-implementation of price list, action would be taken against the relevant Assistant Commissioner.

  • FBR invites services for real-time monitoring, tracking of cargo movement

    FBR invites services for real-time monitoring, tracking of cargo movement

    ISLAMABAD: Federal Board of Revenue (FBR) has invited Expression of Interest (EOI) from companies providing real-time support for monitoring and tracking of transit / transshipment of goods.

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