Last update: Wed, 26 Oct 2016 01am

Taxation: Pakistan


Collectorate of Customs (Adjudication) has issued Order-IN-Original (ONO) to an importer for evading Rs 35.23 million in the imports of renewable energy products. According to the ONO, the case was established by the Directorate General of Post Clearance Audit (Customs) Karachi against the importer after the scrutiny of import data.
Ministry of Commerce (MoC) on Monday has won the case against Chairman National Tariff Commission (NTC) Abbas Raza in Lahore High Court (LHC). Kausar Zaidi, Joint Secretary (Admin) , Commerce who had been summoned by the Chief Justice Lahore High Court in person told Business Recorder that Chief Justice LHC dismissed the petition of Chairman NTC after examining documentary evidence and hearing arguments of Commerce Ministry . The new Chairman NTC Qasim Niaz - a former Secretary Commerce who left charge after the entry of Abbas Raza will resume charge soon.
The Directorate General of Intelligence and Investigation Inland Revenue (IR) Islamabad Saturday conducted a raid on largest wholesaler of ladies and gents cloths in twin cities of Rawalpindi and Islamabad on charges of tax fraud. The directorate of I&I IR Islamabad conducted a raid on the godown of Grace Emporium in Kahuta Triangle Industrial Area, Islamabad with the help of police.
The Federal Board of Revenue (FBR) and Association of Builders and Developers (ABAD) Monday mutually agreed to streamline mechanism for collection of tax under sections 7C and 7D of the Income Tax Ordinance 2001 from builders and developers. Sources told Business Recorder that a meeting was held between senior FBR officials and the ABAD representatives from all major cities of the country.
The Federal Board of Revenue''s (FBR) electronic system of "IRIS" is not accepting claims of income tax refund for the Tax Year 2016.
The Federal Board of Revenue (FBR) has amended Inland Revenue Reward Rules, 2016 to entitle all officers and officials of Inland Revenue, including ministerial and ex-cadre officers/officials having meritorious conduct for grant of rewards. According to the revised criteria for eligibility for reward under amended Inland Revenue Reward Rules, 2016 issued through SRO 981(I)/2016 by the FBR, an employee and informer shall, for having meritorious conduct, be entitled to grant of reward.
Provincial Minister for Excise and Taxation Mujtaba Shuja-ur-Rehman has said that the provincial government is going to start a massive crackdown against the non-custom paid cars. He said this while addressing a rally arranged by the TVR car company on Friday. He said the excise department will launch the crackdown with the help of customs department to ensure the transparency and boosting the revenue figures of both the departments.