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Tag Archives: 2001

‘File tax returns on time to avoid penalty’

IRS-April-15-Due

LAHORE: The Federal Board of Revenue (FBR) has urged taxpayers to file their income tax returns until December 5 to avoid the penalties and legal proceedings. A source in the Regional Tax Office told Customs Today that the last date for filing of the income tax returns would not be extended as it had been extended to the end of ... Read More »

FBR online Income Tax form creating problems for taxpayers: FTO told

Online IT form

ISLAMABAD: Another issue regarding online Income Tax Return form is creating problems not only for the taxpayers, but also for Federal Board of Revenue (FBR). According to tax lawyer Waheed Shazad Butt, the Income Tax Return form for Tax Year 2014, that has been uploaded on the FBR website having computerised formulas and taxpayer’s due tax liability, would cause a ... Read More »

FBR takes exception to misuse of SRO 77(I)2013 by sugar sector

Sugar

KARACHI: Taking strong exception to serious irregularities in collection of sales tax, Federal Excise Duty (FED) and income tax from sugar sector, the Federal Board of Revenue (FBR) has directed the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to act on the report of Directorate General Audit, Inland-Revenue (South), Karachi. According to reports, the sugar sector has committed ... Read More »

Additional Collector Sami penalizes importer for mis-declaration

penalty

KARACHI: The Additional Collector Sami-ul-Haq of the Collectorate of Customs Adjudication-II has issued Order-in-Original (ONO) against the importer M/s O S Corporation for its involvement in mis-declaration of the description, value and classification of the imported goods and tried to evade the government duty/taxes amounting to Rs 992,121 while the value of offending goods recorded at Rs 4,960,214. In the ... Read More »

R&D registers FIR against Sundus Fertilizers, clearing agent

fir

KARACHI: The Research and Development (R&D) Section of MCC Appraisement (East) has registered an FIR against owners, directors, partners of M/s Sundus Fertilizers & Chemicals Pakistan (Pvt) Ltd and M/s Al-Rehmat Trading, clearing agent against mis-declaration of description and value, as the importers tried to import Cartap Hydrochloride Tech 98 per cent min, B No 20140408 packed in 25 kgs ... Read More »