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 Corporate Tax Office (CTO) Karachi has launched a crackdown against individuals and companies involved in the sales tax evasion, sources said on Thursday. The CTO Karachi is a major revenue collection arm of the Federal Board of Revenue (FBR) and has jurisdiction over corporate retail entities operating under various sectors. In its ongoing … Read more
KARACHI: The Federal Board of Revenue (FBR) on Friday formally launched the Export Facilitation Scheme 2021. The FBR issued an SRO 957(I)/2021 to implement the provisions for facilitating exports from Pakistan. Previously, the tax body issued draft law on July 9, 2021, inviting feedback from the stakeholders. According to the latest SRO, the scheme would … Read more
