Islamabad, April 26, 2024 – Prime Minister Shehbaz Sharif has denounced the track and trace system implemented for monitoring goods in several key industries as a complete fraud.
In a recent development, an inquiry committee appointed by former Prime Minister Shahbaz Sharif to oversee the implementation of the Track and Trace System (TTS) has unveiled critical shortcomings in the system’s effectiveness, particularly in four major sectors: sugar, cement, fertilizer, and tobacco.
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday made tax stamps mandatory for packing and supply of fertilizer bags. The FBR issued Sales Tax General Order (STGO) No. 15 of 2022 to implement track and trace system under SRO 250/2019 related to fertilizer bags. The FBR said that the provisions of Section 40C (2) […]
ISLAMABAD: The digital monitoring initiated by the Federal Board of Revenue (FBR) has resulted in a collection of Rs32.43 billion from the sugar sector during the first half of the current fiscal year.
KARACHI: Dr. Muhammad Ashfaq Ahmed, Chairman of the Federal Board of Revenue (FBR), has announced cash reward for officials of Inland Revenue Enforcement Network (IREN) for conducting successful raids against illegal sugar bags. A statement issued on Saturday said that the Chairman had appreciated the performance of IREN squads and announced a cash reward for […]
In a bid to enhance transparency, combat tax evasion, and ensure compliance with legal requirements, the Federal Board of Revenue (FBR) has reinforced the obligation of mandatory tax stamps on all sugar bags.
ISLAMABAD: Prime Minister Imran Khan on Tuesday launched the online monitoring of supply and production of various items in order to plug revenue leakages. Taxes vital for country’s economic stability and survival, the prime minister hoped and said that the use of technology will help check tax-pilferage and take revenue collection to the tune of […]
KARACHI: The sugar mills have agreed to allow the tax authorities to monitor the production and supply through track and trace system. In this regard a tri-partite agreement was signed at Large Taxpayers Office (LTO), Karachi. The agreement was signed by the representatives of sugar mills, Federal Board of Revenue (FBR) and the consortium AJCL/ […]
ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Member (Inland Revenue Operations) has said that authorities were in process of drafting new rules where-under cigarette brands registered with FBR could only be sold in Pakistani markets. He said during his visit to Regional Tax Office (RTO) Rawalpindi on Friday where the tax office had seized two trucks which […]
KARACHI: Federal Board of Revenue (FBR) may reintroduce track and trace system for tobacco products by end-June 2021 with a new strategy after a higher court declared the earlier system invalid. According to country report on Pakistan issued by the International Monetary Fund (IMF) on Thursday, the Pakistan authorities through Letter of Intent (LOI) pledged […]