KARACHI: The Federal Board of Revenue (FBR) has launched a flagship initiative, Point of Sale, to bring Rs16 trillion worth of undocumented retail sales into the tax net. Pakistan’s total retail sales are estimated at Rs20 trillion annually. The FBR’s integration of POS will also help the tax authorities implement a full-fledged value-added tax (VAT) … Read more
KARACHI: The Federal Board of Revenue (FBR) on Tuesday directed the offices of the Inland Revenue (IR) to facilitate taxpayers in the payment of duty and taxes during the last two days of the year by extending working hours. On an office order, the revenue board directed the tax offices to remain open and observe … Read more
KARACHI: The Federal Board of Revenue (FBR) has dismissed a senior officer of Inland Revenue on the charges of corruption and misconduct. The revenue board initiated disciplinary proceedings against Syed Zubair Shah, a BS-19 officer of the Inland Revenue Service on the complaint of Chief Accountant of Pak Steel Re-Rolling Mills, Islamabad. Shah has been … Read more
KARACHI: The Large Taxpayers Office (LTO) Karachi on Tuesday discussed tax issues with foreign investors from the Overseas Investors Chamber of Commerce Industries (OICCI) operating in Pakistan. Shahid Iqbal Baloch, chief commissioner of the Inland Revenue, LTO Karachi, headed the tax team, while Kazi Hifzur Rehman, commissioner of the Inland Revenue, Audit Zone-III, LTO, Karachi, … Read more
