RTO-II Karachi seals Baklava Palace for integration failure

Jun 6

Taxation

RTO-II Karachi seals Baklava Palace for integration failure

KARACHI: Regional Tax Office (RTO) – II, Karachi on Monday sealed a sweet shop i.e. M/s. Baklava Palace for failure to mandatory integrate with online system. RTO – II, Karachi, an arm of the Federal Board of Revenue (FBR), while continuing its crackdown against non-compliant Tier-1 retailers, sealed the business premises of M/s. Baklava Palace, […]

by Faisal Shahnawaz

RTO-II Karachi seals electronics shop for integration failure

Jun 4

Taxation

RTO-II Karachi seals electronics shop for integration failure

KARACHI: Regional Tax Office (RTO) – II, Karachi on Saturday sealed a shop of electronics goods for failure to mandatory integrate with online system. RTO – II, Karachi, an arm of the FBR, while continuing its crackdown against non-compliant Tier-1 retailers, sealed the business premises of M/s. Rafi Electronics located at Gulshan e Iqbal, Karachi. […]

by Faisal Shahnawaz

BTB efforts help RTO-II Karachi to post unprecedented 60% growth: CCIR

Mar 15

Taxation

BTB efforts help RTO-II Karachi to post unprecedented 60% growth: CCIR

KARACHI: The efforts of tax officials for broadening the tax base (BTB) helped Regional Tax Office (RTO)-II Karachi to achieve above 60 percent revenue collection growth in February 2020. “The tax office worked aggressively and brought many new taxpayers into the tax net belonging to various sectors of the economy,” Badaruddin Ahmed Qureshi, Chief Commissioner […]

by Mrs. Anjum Shahnawaz

Tax collection from rental income surges by 68% on better enforcement

Mar 10

Taxation

Tax collection from rental income surges by 68% on better enforcement

The Regional Tax Office (RTO)-II Karachi has reported a remarkable surge in tax collection from property income during the first eight months (July-February) of the current fiscal year, marking a significant increase of 68 percent.

by Mrs. Anjum Shahnawaz

Criminal proceedings against officials of RTO-II Karachi in fake sales tax refunds ordered

Mar 3

Taxation

Criminal proceedings against officials of RTO-II Karachi in fake sales tax refunds ordered

KARACHI: Federal Tax Ombudsman (FTO) has directed tax authorities to initiate criminal proceedings against officials involved in processing bogus sales tax refunds. In an own motion in bogus refunds, the FTO observed that failure of the Regional Tax Office (RTO)-II Karachi to initiate action against the persons/officials involved in registration of fake refund payment and […]

by Mrs. Anjum Shahnawaz

Tax authorities capture huge cash transactions of dress designers; start assessment

Feb 20

Taxation

Tax authorities capture huge cash transactions of dress designers; start assessment

KARACHI: Tax authorities have captured millions of rupees cash transactions by many dress designers. The authorities are now making assessment on the basis of such transactions for imposing income tax for past five years, sources said on Wednesday. The sources said that the tax authorities had captured the cash transactions while disguising themselves as customers […]

by Mrs. Anjum Shahnawaz

Criminal proceeding initiated in sales tax refunds issuance on bogus invoices

Jan 22

Taxation

Criminal proceeding initiated in sales tax refunds issuance on bogus invoices

KARACHI: Regional Tax Office (RTO)-II Karachi has initiated criminal proceeding against persons involved in obtaining sales tax refunds on fake and flying invoices. According to statement on Tuesday, the tax office had unearthed a gang of fraudsters who were engaged in tax fraud on the strength of bogus/fake/flying invoices and claimed dubious/bogus Rs230 million sales […]

by Mrs. Anjum Shahnawaz

Withholding tax collection on profit from bank deposits surges by 194pc

Oct 24

Exclusive, Taxation

Withholding tax collection on profit from bank deposits surges by 194pc

KARACHI: The collection of withholding tax from profit on bank deposits registered unprecedented growth of 194 percent during first quarter of first fiscal year as the tax rates increased by 100 percent for persons not on the Active Taxpayers List (ATL). Sources in Regional Tax Office (RTO) –II Karachi said that the withholding tax collection […]

by Mrs. Anjum Shahnawaz

RTO-II starts return filing facilitation drive next week

Jul 19

Taxation

RTO-II starts return filing facilitation drive next week

KARACHI: Regional Tax Office (RTO) –II Karachi to launch drive from next week in order to facilitate people to file their annual income tax returns. FBR teams will set up camp offices at large corporate and government offices besides visiting markets and shopping plazas to encourage salary and business individuals to file their returns, said […]

by Mrs. Anjum Shahnawaz