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Sohail Sarfraz

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Haroon Akhtar to be SAPM on revenue?

Haroon Akhtar Khan is likely to be appointed as Special Assistant to Prime Minister on Revenue and a notification in this regard is expected to be issued within this week. According to sources, the Special Assistant to Prime Minister on Revenue would prim
Published 21 Feb, 2020 12:00am
Business

Tax directory of MPs, taxpayers to be launched next month

The Federal Board of Revenue (FBR) is expected to launch sixth consecutive tax directory of parliamentarians and for all taxpayers including tax payments made by public representatives, members of the National Assembly and the Senate, as well as corporate
Published 20 Feb, 2020 12:00am
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Composite audit of registered taxpayers on the cards

The government is planning to introduce a new legal framework in Finance Bill, 2020, to control practice of multiple income tax and sales tax audits in a year by introducing the concept of composite audit of registered taxpayers from the next fiscal year.
Published 19 Feb, 2020 12:00am
Business

Scope of recovery from taxpayers extended

The Federal Board of Revenue (FBR) has extended the scope of recovery from taxpayers by empowering Inland Revenue officers to recover tax from money held in bank accounts, fixed deposits, term deposit certificates (TDRs), call deposit receipts (CDRs), emp
Published 18 Feb, 2020 12:00am
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Wheat flour crisis: JIT yet to contact CCP

The Joint Investigation Team (JIT) led by FIA Director General Wajid Zia, constituted by Prime Minister Imran Khan to probe the wheat flour crisis, has not yet contacted the Competition Commission of Pakistan (CCP) to get its perspective on any possible c
Published 17 Feb, 2020 12:00am
Business

No penalty for not filing GDs on goods imported as gift

The Federal Board of Revenue (FBR) will not impose any penalty for not filing Goods Declarations (GDs) on goods imported as gift by individuals without national tax number (NTN) or sales tax registration number (STRN) through courier/air cargo, diplomatic
Published 16 Feb, 2020 12:00am
Business

PIBT only coal handling terminal, declares CCP

The Competition Commission of Pakistan (CCP) has declared that M/s Pakistan International Bulk Terminal Limited (PIBT) is the only coal handling terminal in Pakistan, and that it was against any discriminatory actions on part of the terminal.
Published 15 Feb, 2020 12:00am
Business

Cargo clearance: FBR sets up 'LRMCs' at MCCs

The Federal Board of Revenue (FBR) has established local risk management committees (LRMCs) in each Model Customs Collectorate (MCC) to check risks involved in customs clearance of containerized, LCL and bulk cargos.
Published 14 Feb, 2020 12:00am