FBR estimates Rs20 billion annual revenue loss in illicit tobacco trade

ISLAMABAD: Federal Board of Revenue (FBR) has estimated around Rs20 billion as revenue loss due to illicit trade of tobacco products. The FBR on Tuesday said that the tobacco sector in Pakistan contributed significant revenue in 2018-2019 amounting to Rs 117 Billion (Rs 90.854 billion FED and Rs. 26.147 Billion sales tax). However, Pakistan is […]

by Mrs. Anjum Shahnawaz

FBR warns stern action against under-invoicing, mis-declaration

ISLAMABAD: Federal Board of Revenue (FBR) has decided to launch drive against manufacturers and importers indulged in under invoicing and incurring huge revenue losses to national exchequer. FBR chairman Syed Shabbar Zaidi, in a statement, warned such manufacturers and importers to abstain from misdeclaration and under-invoicing. The statement said that the smuggling was the greatest […]

by Mrs. Anjum Shahnawaz

Customs recovers huge quantity of drugs, smuggled goods

KARACHI: Customs authorities in Karachi conducted two major operations on Friday, resulting in the recovery of a significant quantity of contraband and smuggled goods.

by Faisal Shahnawaz